Top 10 stocks from the Nifty LargeMidcap 250. Every month, without exception.
The model scores all 250 stocks in the Nifty LargeMidcap 250 universe each month using our proprietary multi-factor framework. The top 10 — capped at 2 per industry — are selected and held in equal weight until the next rebalance. No overrides, no exceptions, no gut calls.
The 5-year backtest delivered, after 20% short-term capital-gains tax, 29.8% CAGR vs a 12.14% Nifty LargeMidcap 250 Index benchmark — a +17.66% annual alpha. The Sharpe ratio of 1.39 reflects strong risk-adjusted returns, not just raw performance. Maximum drawdown was -25.8% versus the benchmark.
Ours pays 20% short-term capital-gains tax every month it books a profit, because it rebalances monthly. The funds and the index are bought once and held, so they pay 12.5% long-term once at exit on gains above ₹1,25,000. Fund figures are Direct Plan trailing returns, already net of their expense ratio.
Backtested, not live trading. Past performance is not indicative of future returns. The fixed-deposit line assumes interest taxed at a 30% slab.
250-stock universe
Covers the top 100 NSE companies plus 150 midcap stocks — capturing the majority of India's listed market cap.
Multi-factor scoring
A proprietary blend of academically validated factor signals ranks every stock each month. Composition and weighting are MindForge IP.
Equal-weight, sector-capped
Every name carries the same weight; no single industry can take more than 2 of the 10 slots. Diversification is structural, not promised.
Rules over hunches
The model runs identically every cycle. Output is a portfolio — not a thesis, not a call, not a discretionary tweak.
Full performance analysis
Gross of tax These charts and the month-by-month grid show the model’s own curve, before tax — that is what a backtest produces. Every headline figure on this page is stated after 20% short-term capital-gains tax: 44.2% gross becomes 29.8% after tax.
Left pair: share of all 61 months. Right pair: their own shared scale — the bigger move fills its track and the other draws its true fraction of it.
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Year | vs index |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | +1.6 | +6.8 | +3.2 | −0.6 | +11.2 | +23.7 | +13.8 | |||||||
| 2022 | −0.8 | −9.5 | +8.9 | +6.1 | −5.7 | −4.3 | +12.6 | +15.8 | +1.6 | +3.4 | +8.2 | −1.1 | +37.3 | +33.9 |
| 2023 | −4.3 | −2.7 | +5.2 | +10.1 | +5.8 | +10.2 | +14.4 | +11.6 | +10.6 | −1.7 | +15.7 | +6.5 | +114.9 | +83.5 |
| 2024 | +12.6 | +1.3 | +1.1 | +14.1 | +7.7 | +7.2 | +8.6 | +0.6 | +0.4 | −3.5 | +0.3 | +8.4 | +75.0 | +57.3 |
| 2025 | −15.6 | −12.2 | +11.3 | +3.2 | +12.9 | +5.4 | −6.9 | +0.8 | −2.5 | +2.0 | +0.5 | +4.5 | −0.4 | −7.7 |
| 2026 | +0.8 | +4.5 | −11.2 | +5.0 | +7.2 | −3.1 | −2.1 | +1.3 | +1.2 | +1.2 |
Every figure above is computed from the same simulated equity curve as the CAGR on this page — month-end to month-end, model portfolio versus the Nifty LargeMidcap 250, no costs or slippage assumed. vs index is the calendar-year gap in percentage points. 2021 and 2026 are part years — their totals cover only the months shown. Backtested, not live trading. Past performance is not indicative of future returns.
Backtest period (all figures after tax): Jun 2021 → Jul 2026 · Benchmark: Nifty LargeMidcap 250 Index · 29.8% CAGR vs 12.14% benchmark · Beats benchmark 70% of months. Simulated performance, not live trading. Past performance is not indicative of future returns.