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Indian (NIFTY) Financials Sector Analysis

UpdatedAug 23, 2026
DataAggregated Company Financials
Companies639
  • 7D0.5%
  • 3M5.5%
  • 1Y2.6%
  • YTD-2.6%

Over the last 7 days, the Financials industry has remained flat. Furthermore, the industry has been flat for the past year as well. Earnings are forecast to grow by 14% annually.

Sector Valuation and Performance

Has the Indian Financials Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 23 Aug 2026₹118.2t₹39.0t₹7.4t20.9x15.9x3x
Tue, 21 Jul 2026₹118.2t₹38.4t₹7.3t24.3x16.3x3.1x
Thu, 18 Jun 2026₹115.0t₹38.1t₹7.1t24.2x16.2x3x
Sat, 16 May 2026₹110.7t₹37.5t₹7.1t21.8x15.7x2.9x
Mon, 13 Apr 2026₹112.8t₹37.0t₹6.8t20.9x16.6x3x
Wed, 11 Mar 2026₹113.2t₹37.0t₹6.8t20.7x16.6x3.1x
Fri, 06 Feb 2026₹118.2t₹36.3t₹6.7t22.7x17.6x3.3x
Sun, 04 Jan 2026₹120.3t₹35.2t₹6.6t24.5x18.2x3.4x
Tue, 02 Dec 2025₹118.0t₹35.1t₹6.6t24.4x18x3.4x
Thu, 30 Oct 2025₹115.8t₹34.7t₹6.5t24.6x17.8x3.3x
Sat, 27 Sep 2025₹106.9t₹35.0t₹6.4t23.4x16.6x3.1x
Mon, 25 Aug 2025₹108.3t₹35.1t₹6.5t22.9x16.7x3.1x
Wed, 23 Jul 2025₹109.9t₹34.4t₹6.4t25.5x17.1x3.2x
Fri, 20 Jun 2025₹105.7t₹34.2t₹6.4t24.7x16.6x3.1x
Sun, 18 May 2025₹105.0t₹34.5t₹6.4t20.7x16.5x3x
Tue, 15 Apr 2025₹96.2t₹34.0t₹6.3t19.1x15.3x2.8x
Thu, 13 Mar 2025₹91.4t₹34.0t₹6.3t18.8x14.6x2.7x
Sat, 08 Feb 2025₹96.5t₹34.1t₹6.3t21.6x15.3x2.8x
Mon, 06 Jan 2025₹100.7t₹34.4t₹6.1t24x16.5x2.9x
Wed, 04 Dec 2024₹101.9t₹34.4t₹6.1t23.2x16.7x3x
Fri, 01 Nov 2024₹100.8t₹34.9t₹6.3t23.4x16.1x2.9x
Sun, 29 Sep 2024₹105.9t₹33.2t₹5.9t23.3x18x3.2x
Tue, 27 Aug 2024₹100.8t₹33.1t₹5.9t23.5x17.2x3x
Thu, 25 Jul 2024₹100.4t₹32.4t₹5.7t24x17.6x3.1x
Sat, 22 Jun 2024₹98.6t₹32.0t₹5.6t21.8x17.7x3.1x
Mon, 20 May 2024₹93.6t₹31.1t₹5.6t21.4x16.8x3x
Wed, 17 Apr 2024₹91.4t₹29.7t₹5.1t21.4x17.8x3.1x
Fri, 15 Mar 2024₹88.3t₹29.7t₹5.2t20.6x17.1x3x
Sun, 11 Feb 2024₹90.2t₹29.6t₹5.1t24.3x17.6x3.1x
Tue, 09 Jan 2024₹91.2t₹29.3t₹5.3t22.5x17.2x3.1x
Thu, 07 Dec 2023₹88.2t₹29.3t₹5.3t20.7x16.7x3x
Sat, 04 Nov 2023₹80.8t₹29.2t₹5.3t21.4x15.3x2.8x
Mon, 02 Oct 2023₹82.5t₹28.5t₹5.0t22.1x16.4x2.9x
Wed, 30 Aug 2023₹79.4t₹28.5t₹5.0t20x15.8x2.8x
Price to Earnings Ratio

15.8x


Total Market Cap: ₹79.4tTotal Earnings: ₹5.0tTotal Revenue: ₹28.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Financials Sector Price to Earnings3Y Average 16.7x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 16.7x.
  • The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 11% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Financials sector?

IN Market-0.20%
Financials0.52%
Insurance1.65%
Capital Markets1.64%
Consumer Finance0.72%
Diversified Financial0.11%
Banks0.01%
Mortgage Finance0%0
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 27.3x.
    • Analysts are expecting annual earnings growth of 16.1%, which is higher than its past year's earnings growth of 13.1% per year.
  • Investors are most pessimistic about the Banks industry, which is trading close to its 3-year average of 13.9x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 19% over the next 5 years.
  • However this is lower than its past earnings growth rate of 30% per year.
  • In contrast, the Banks industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
LICI Life Insurance Corporation of India₹422.252.1%
+₹110.7b		-5.0%PE8.2x
500247 Kotak Mahindra Bank₹402.802.5%
+₹97.5b		1.4%PB2.2x
532215 Axis Bank₹1.25k2.4%
+₹89.9b		16.4%PB1.7x
ICICIAMC ICICI Prudential Asset Management₹3.27k5.5%
+₹84.9b		n/aPE46.4x
MUTHOOTFIN Muthoot Finance₹3.02k6.3%
+₹72.3b		12.7%PE10.7x

Latest News

MCX
₹3,185.00
Multi Commodity Exchange of India
7D
9.4%
1Y
100.1%
RECLTD
₹326.65
REC
7D
-2.5%
1Y
-13.0%
Narrative Update • Aug 20

RECLTD: Merger And Dividend Plans Will Shape Balanced Forward Return Outlook

Analysts have lowered their price target for REC from ₹380 to ₹360, citing updated assumptions that combine a reduced revenue growth outlook with a slightly lower discount rate, a higher profit margin estimate and a modestly lower future P/E multiple. What’s in the News for REC Power Finance Corporation Limited has announced a proposal to acquire the remaining 47.37% stake in REC for approximately ₹483.9b through a share swap at a ratio of 0.88 PFC equity share for every 1 REC equity share, under a merger by absorption scheme.
MUTHOOTFIN
₹3,022.00
Muthoot Finance
7D
6.3%
1Y
12.7%
Narrative Update • Aug 19

MUTHOOTFIN: CEO Transition And Margin Outlook Will Support Future Upside

Analysts have reduced their price target for Muthoot Finance from about ₹3,740 to around ₹3,390. This reflects updated views on slightly lower revenue growth expectations, a modestly adjusted discount rate, and a marginally higher profit margin and future P/E assumption.
NAM-INDIA
₹1,251.00
Nippon Life India Asset Management
7D
7.1%
1Y
44.6%
Narrative Update • Aug 18

NAM-INDIA: Dividend Support And Profitability Assumptions Will Sustain Steady Outlook

Analysts have raised the fair value estimate for Nippon Life India Asset Management from ₹1,086.48 to ₹1,236.42, citing updated assumptions that include a slightly different discount rate, changes in the revenue growth outlook, an updated profit margin profile, and a revised future P/E expectation. What's in the News Nippon Life India Asset Management has scheduled a board meeting on July 22, 2026, to consider and approve unaudited financial results for the quarter ending June 30, 2026.
BSE
₹3,241.00
BSE
7D
-6.0%
1Y
38.9%
Narrative Update • Aug 12

BSE: Upcoming Leadership And Governance Decisions Will Support Future Upside

Analysts have nudged their fair value estimate for BSE lower from about ₹5,072 to roughly ₹4,844, reflecting updated assumptions for revenue growth, profit margins, a slightly adjusted discount rate, and a higher future P/E expectation. What's in the News for BSE BSE has scheduled a board meeting on Jun 02, 2026 at 15:45 Indian Standard Time to consider the appointment of Shri Gopalan S.
SBIN
₹1,048.70
State Bank of India
7D
-1.8%
1Y
28.5%
Narrative Update • Aug 10

SBIN: Upcoming CFO Transition And Debt Raise Will Support Bullish Outlook

Analysts have raised their price target for State Bank of India from ₹1,195.61 to ₹1,245.89, citing changes to discount rate assumptions, revenue growth expectations, profit margins and forward P/E inputs in their valuation models. What’s in the News for State Bank of India State Bank of India scheduled a Board meeting on August 7, 2026, to consider the financial results for the quarter ended June 30, 2026.
PFC
₹363.00
Power Finance
7D
-3.5%
1Y
-9.2%
Narrative Update • Aug 09

PFC: Proposed Merger And Higher Margins Will Drive Future Returns

Analysts have trimmed their price target for Power Finance to about ₹498 from roughly ₹514. This reflects updated assumptions that include a higher discount rate, softer revenue growth expectations, a richer future P/E multiple and stronger projected profit margins.
LICI
₹422.25
Life Insurance Corporation of India
7D
2.1%
1Y
-5.0%
532215
₹1,246.30
Axis Bank
7D
2.4%
1Y
16.4%
HDFCAMC
₹2,610.00
HDFC Asset Management
7D
5.0%
1Y
-10.4%
Narrative Update • Aug 05

HDFCAMC: Dividend Payout And Employee Equity Grants Will Support Future Upside

Analysts have adjusted their price target for HDFC Asset Management to ₹3,111.78 from ₹3,044.36, reflecting updated assumptions related to revenue growth, profit margin, discount rate and future P/E levels for the stock. What's in the News HDFC Asset Management has scheduled a board meeting on July 15, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter ending June 30, 2026.
JIOFIN
₹244.00
Jio Financial Services
7D
-2.0%
1Y
-23.9%
511243
₹1,860.00
Cholamandalam Investment and Finance
7D
-2.4%
1Y
22.0%
Narrative Update • Jul 29

511243: Board Meeting, Funding Plans And Dividend Policy Will Shape Steady Outlook

Analysts have adjusted their price target for Cholamandalam Investment and Finance from ₹1,887.85 to ₹1,973.13, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. What’s in the News for Cholamandalam Investment and Finance A board meeting is scheduled on July 28, 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
500247
₹402.80
Kotak Mahindra Bank
7D
2.5%
1Y
1.4%
INDIANB
₹876.90
Indian Bank
7D
-2.0%
1Y
30.8%
Analysis Article • Jul 12

Should You Be Adding Indian Bank (NSE:INDIANB) To Your Watchlist Today?

Investors are often guided by the idea of discovering 'the next big thing', even if that means buying 'story stocks...
UNIONBANK
₹183.45
Union Bank of India
7D
-2.1%
1Y
36.1%
ICICIAMC
₹3,269.70
ICICI Prudential Asset Management
7D
5.5%
1Y
n/a
Narrative Update • Jun 26

ICICIAMC: Index Additions And Updated Assumptions Will Guide Balanced Outlook

Analysts have raised their price target for ICICI Prudential Asset Management from ₹3,392 to ₹3,660, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E, which together support a higher valuation framework. What's in the News ICICI Prudential Asset Management has a board meeting scheduled on May 21, 2026, to consider the intimation of the Annual General Meeting and the record date.