Synopsis: As of January 2026, BlackRock India Fund, with a net asset value of Rs. 3,633.54 crore, holds top large-cap stocks across banking, automobiles, infrastructure, telecom, IT, cement, energy, and FMCG sectors.
Investors often track the portfolio holdings of large global asset managers to understand market trends and institutional preferences. BlackRock India Fund, being one of the prominent foreign institutional investors, regularly discloses its equity holdings, which attract close attention from market participants. Changes in its top stock holdings can provide insights into sectoral bets, conviction levels, and overall investment strategy as of January 2026.
BlackRock India Fund has a total net asset value of approximately Rs. 3,633.54 crore, based on a portfolio size of USD 400.69 million converted at an exchange rate of Rs. 90.68 per dollar. The fund holds significant positions in leading Indian blue-chip companies across banking, financial services, telecom, IT, infrastructure, and consumer sectors, reflecting a diversified large-cap focused strategy. Here is the list of stocks:
HDFC Bank Limited
With a market capitalization of Rs. 13,90,929.01 crores, the shares of HDFC Bank Limited closed at Rs. 903.90 per share, down by 1.81 percent from its previous closing price of Rs. 920.60 per share.
HDFC Bank Ltd is the largest holding in the portfolio with a weight of 8.71 percent, translating into an investment value of approximately Rs. 316.48 crore. The allocation highlights the fund’s strong conviction in India’s leading private sector bank.
HDFC Bank Limited is a leading private sector bank headquartered in Mumbai, providing a wide range of banking and financial services to individuals and businesses across India and select international locations including Bahrain, Hong Kong, Singapore, and Dubai. The bank operates through segments such as Treasury, Retail Banking, Wholesale Banking, Insurance, and Other Banking Businesses.
ICICI Bank Limited
With a market capitalization of Rs. 10,12,801.61 crores, the shares of ICICI Bank Limited closed at Rs. 1,415.50 per share, down by 1.01 percent from its previous closing price of Rs. 1,430.00 per share.
ICICI Bank Ltd accounts for 8.28 percent of the portfolio, with an investment value of around Rs. 300.86 crore. The sizable exposure indicates continued preference for high-quality private banking franchises.
ICICI Bank Limited is a leading private sector bank headquartered in Mumbai, offering a broad range of banking and financial services to retail and corporate customers in India and overseas. The bank operates through segments including Retail Banking, Wholesale Banking, Treasury, Insurance, and Other Financial Services, supported by its subsidiaries.
MAHINDRA & MAHINDRA Limited
With a market capitalization of Rs. 4,39,338.74 crores, the shares of MAHINDRA & MAHINDRA Limited closed at Rs. 3,533 per share, down by 1.67 percent from its previous closing price of Rs. 3,593.10 per share.
Mahindra and Mahindra Ltd holds a weight of 5.35 percent in the fund, amounting to nearly Rs. 194.39 crore. This allocation provides exposure to the automobile and farm equipment segments.
Founded over eight decades ago, the Mahindra Group has grown into a global federation of companies, with Mahindra & Mahindra Ltd. as its flagship mobility and farm solutions business. The company offers SUVs, pickups, light commercial vehicles, tractors, electric vehicles, electric three-wheelers, two-wheelers, power generators, and construction equipment, and is recognized as India’s leading SUV company by revenue market share and the top electric three-wheeler manufacturer, with a strong focus on sustainability and community development.
Larsen & Toubro Limited
With a market capitalization of Rs. 5,73,905.13 crores, the shares of Larsen & Toubro Limited closed at Rs. 4,172 per share, down by 0.33 percent from its previous closing price of Rs. 4,185.90 per share.
Larsen and Toubro Ltd represents 5.14 percent of the portfolio, with an investment of about Rs. 186.76 crore. The position reflects confidence in India’s infrastructure and capital goods growth story.
Larsen & Toubro Limited (L&T), founded in 1938 and headquartered in Mumbai, is a leading Indian multinational engaged in engineering, procurement, and construction (EPC) projects across infrastructure, energy, and industrial sectors in India and globally. Its Infrastructure and Energy segments execute projects in buildings, transportation, heavy civil works, power transmission, water treatment, oil & gas, refineries, petrochemicals, and renewable energy.
Reliance Industries Limited
With a market capitalization of Rs. 19,19,716.57 crores, the shares of Reliance Industries Limited closed at Rs. 1,418.60 per share, down by 2.09 percent from its previous closing price of Rs. 1,448.90 per share.
Reliance Industries Ltd, with a weight of 4.83 percent, accounts for approximately Rs. 175.50 crore of the fund’s assets, offering diversified exposure across energy, retail, and telecom.
Reliance Industries Limited (RIL), founded in 1957 and headquartered in Mumbai, is a diversified conglomerate with businesses spanning oil-to-chemicals, oil and gas exploration, retail, digital services, and media. Its energy and petrochemicals operations include refining, fuel marketing, polymers, polyester, elastomers, aromatics, and bioenergy products, along with upstream oil and gas activities.
Kotak Mahindra Bank Limited
With a market capitalization of Rs. 4,19,635.39 crores, the shares of Kotak Mahindra Bank Limited closed at Rs. 421.690 per share, down by 1.02 percent from its previous closing price of Rs. 426.25 per share.
Kotak Mahindra Bank Ltd comprises 4.73 percent of the holdings, translating into an investment of around Rs. 171.87 crore, strengthening the fund’s exposure to private banking.
Kotak Mahindra Bank Limited, incorporated in 1985 and headquartered in Mumbai, provides a wide range of banking and financial services to retail and corporate customers in India. The bank operates across segments including Retail Banking, Corporate/Wholesale Banking, Treasury, Vehicle Financing, Asset Management, Broking, Advisory Services, and Insurance.
Bharti Airtel Limited
With a market capitalization of Rs. 11,36,429.59 crores, the shares of Bharti Airtel Limited closed at Rs. 1,993 per share, down by 1.07 percent from its previous closing price of Rs. 2,014.50 per share. Bharti Airtel Ltd has a 4.71 percent allocation, valued at roughly Rs. 171.14 crore, reflecting participation in India’s expanding telecom and digital ecosystem.
Bharti Airtel Limited, incorporated in 1995 and headquartered in New Delhi, is a leading telecommunications company operating in India and several international markets. The company provides wireless voice and data services across 2G, 3G, 4G, and 5G networks, along with broadband, fixed-line, home services, and digital TV services through DTH and IPTV platforms.
Infosys Limited
With a market capitalization of Rs. 5,55,084.98 crores, the shares of Infosys Limited closed at Rs. 1,369 per share, down by 1.23 percent from its previous closing price of Rs. 1,386 per share. Infosys Ltd makes up 4.25 percent of the portfolio, with an investment of approximately Rs. 154.43 crore, providing exposure to the global IT services sector.
Infosys Limited, incorporated in 1981 and headquartered in Bengaluru, is a global IT services and consulting company providing digital transformation, technology, outsourcing, and engineering solutions across North America, Europe, India, and other international markets. Its offerings include cloud, data analytics, AI and generative AI, cybersecurity, blockchain, IoT, application modernization, digital commerce, and enterprise solutions such as SAP, Oracle, and Salesforce.
UltraTech Cement Limited
With a market capitalization of Rs. 3,82,405.16 crores, the shares of UltraTech Cement Limited closed at Rs. 12,977 per share, down by 0.40 percent from its previous closing price of Rs. 13,029 per share. UltraTech Cement Ltd accounts for 4.09 percent of the fund, amounting to nearly Rs. 148.61 crore, aligning with the infrastructure and housing demand theme.
UltraTech Cement Limited, incorporated in 2000 and headquartered in Mumbai, is one of India’s leading cement manufacturers and a subsidiary of Grasim Industries. The company produces and sells a wide range of cement products including ordinary Portland cement, Portland blast furnace slag cement, Portland Pozzolana cement, white cement, and ready-mix concrete, serving domestic and export markets such as the UAE, Bahrain, and Sri Lanka.
Britannia Industries Limited
With a market capitalization of Rs. 1,43,822.46 crores, the shares of Britannia Industries Limited closed at Rs. 5,971 per share, down by 2.15 percent from its previous closing price of Rs. 6,102 per share.
Britannia Industries Ltd, with a 3.38 percent weight, represents an investment of about Rs. 122.81 crore, offering exposure to the fast-moving consumer goods segment.
Britannia Industries Limited, founded in 1892 and headquartered in Bengaluru, is a leading food products company engaged in manufacturing and selling biscuits, cakes, dairy products, breads, and snacks in India and across nearly 80 countries. Its popular biscuit brands include Good Day, Marie Gold, NutriChoice, Tiger, 50-50, Jim Jam, and Bourbon, along with cakes, rusks, croissants, and wafers under various brand names.
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