Nippon India Small Cap Fund Direct Growth NAV Slips to ₹209.11 on 22 September

Key Takeaways

• Nippon India Small Cap Fund Direct Growth NAV declined 0.20% to ₹209.11 on 22 September 2026, compared with the previous valuation of ₹209.5159.
• The scheme managed approximately ₹82,580 crore, with the Direct Plan expense ratio around 0.51% and the minimum SIP beginning at ₹100.
• Recent portfolio data showed relatively small weights among the leading listed equity positions, with Bharat Heavy Electricals, TD Power Systems, Apar Industries and HDFC Bank all below 2%.
• TREPS accounted for approximately 2.59% in a recent snapshot and needs to be separated from equity holdings because it is used for liquidity management rather than representing a listed stock.

Nippon India Small Cap Fund Direct Growth recorded an NAV of ₹209.11 on 22 September 2026, declining 0.20% from the previous valuation. The movement followed the ₹209.5159 NAV verified for 21 September, providing a direct day-to-day comparison rather than relying on an inferred change.

The scheme managed approximately ₹82,580 crore in the latest supporting fund-size data. Its Direct Plan expense ratio was around 0.51%, and the minimum SIP stood at ₹100. As a small-cap scheme, the portfolio invests predominantly in companies classified outside India's large- and mid-cap universes.

Recent holdings information showed comparatively small individual weights among several leading equity positions. Bharat Heavy Electricals accounted for around 1.85%, TD Power Systems 1.82%, Apar Industries 1.73% and HDFC Bank 1.71%. This means none of these individual listed positions represented even 2% of the portfolio in that snapshot.

A separate TREPS allocation of approximately 2.59% was also present. TREPS is used for liquidity and cash management and should not be described as an equity holding. Its presence among the larger disclosed allocations therefore needs to be separated from the ranking of the fund's listed stocks.

Historical risk data placed beta at approximately 0.86, standard deviation at 5.53, alpha at 1.31 and the Sharpe ratio at 0.61. These figures describe past portfolio characteristics and do not predict subsequent changes in the NAV. Similarly, the 0.20% movement on 22 September represents only one valuation interval and should remain distinct from the fund's longer-period historical performance.