Vanguard’s Indian equity holdings have expanded sharply, reaching Rs 96,715 crore by August 2026, with notable multibagger gains and new additions highlighting the fund’s increasing confidence in India’s growth story.
Vanguard’s Indian equity book has continued to swell, with holdings in 47 BSE-listed companies valued at Rs 96,715 crore as of August 28, 2026, according to an ET Markets analysis based on June-quarter shareholding data. That marks a 46% jump from Rs 66,403 crore in the December 2025 quarter, underscoring how sharply the fund’s exposure to India has risen in just two quarters.
The same analysis found that 11 stocks in the portfolio have climbed between 25% and 190% so far in calendar 2026, with three of them becoming multibaggers. It also identified three fresh additions made during the March 2026 quarter, suggesting Vanguard has not only benefited from the rally in its existing holdings but also continued to widen its India footprint.
This is the latest in a run of strong quarterly gains for the fund’s India portfolio. ET Markets reported earlier this year that the value of Vanguard’s holdings rose to Rs 95,903 crore in the March 2026 quarter, after a 44% increase from Rs 66,403 crore in the December 2025 quarter. Before that, the portfolio had already expanded to Rs 69,100 crore in the December 2025 quarter from Rs 43,047 crore in the March quarter, reflecting the scale of the build-up over fiscal 2026.
Among the standouts in that earlier assessment was TD Power Systems, whose shares rose 120% during fiscal 2026, from Rs 411 to Rs 904. Vanguard held a 1.06% stake in the company, worth about Rs 150 crore at the time. Other names flagged by ET Markets in the portfolio’s recent run-up included PTC India, VA Tech Wabag and Sammaan Capital, all of which featured in earlier rounds of analysis as the fund’s India holdings kept strengthening.
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