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Indian (NIFTY) Financials Sector Analysis

UpdatedJul 07, 2026
DataAggregated Company Financials
Companies639
  • 7D1.4%
  • 3M10.9%
  • 1Y0.8%
  • YTD-1.9%

In the last week, the Financials industry is up 1.4%, with HDFC Bank up 3.9%. In the same time, Bank of Baroda was down 9.0%. Overall in the last year, the industry is flat. As for the next few years, earnings are expected to grow by 14% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Jul 2026₹117.6t₹38.0t₹7.1t24.5x16.6x3.1x
Thu, 04 Jun 2026₹109.0t₹38.1t₹7.1t21.9x15.3x2.9x
Sat, 02 May 2026₹112.2t₹37.2t₹6.9t21.9x16.2x3x
Mon, 30 Mar 2026₹104.3t₹37.0t₹6.8t19.3x15.3x2.8x
Wed, 25 Feb 2026₹120.8t₹37.0t₹6.8t21.2x17.8x3.3x
Fri, 23 Jan 2026₹116.7t₹35.8t₹6.7t22.6x17.5x3.3x
Sun, 21 Dec 2025₹117.3t₹35.2t₹6.6t23.2x17.8x3.3x
Tue, 18 Nov 2025₹112.4t₹26.0t₹6.0t25.5x18.7x4.3x
Thu, 16 Oct 2025₹113.5t₹35.0t₹6.5t24.8x17.5x3.2x
Sat, 13 Sep 2025₹108.0t₹35.1t₹6.4t22.9x16.8x3.1x
Mon, 11 Aug 2025₹106.3t₹35.0t₹6.5t24.7x16.5x3x
Wed, 09 Jul 2025₹110.3t₹34.2t₹6.4t25.1x17.3x3.2x
Fri, 06 Jun 2025₹107.4t₹34.4t₹6.4t24.4x16.8x3.1x
Sun, 04 May 2025₹101.9t₹34.3t₹6.3t20.2x16.1x3x
Tue, 01 Apr 2025₹98.1t₹34.0t₹6.3t19.4x15.6x2.9x
Thu, 27 Feb 2025₹92.3t₹34.0t₹6.3t19.9x14.7x2.7x
Sat, 25 Jan 2025₹93.8t₹33.9t₹6.1t21.7x15.3x2.8x
Mon, 23 Dec 2024₹99.0t₹34.4t₹6.1t23.5x16.2x2.9x
Wed, 20 Nov 2024₹97.6t₹34.4t₹6.1t22.2x16x2.8x
Fri, 18 Oct 2024₹100.9t₹33.3t₹5.9t24.2x17.1x3x
Sun, 15 Sep 2024₹103.1t₹33.2t₹5.9t23.8x17.5x3.1x
Tue, 13 Aug 2024₹98.6t₹33.2t₹5.9t23.8x16.8x3x
Thu, 11 Jul 2024₹100.8t₹31.9t₹5.6t23x18.1x3.2x
Sat, 08 Jun 2024₹94.8t₹32.1t₹5.6t20.8x17x3x
Mon, 06 May 2024₹94.9t₹31.0t₹5.5t22.6x17.3x3.1x
Wed, 03 Apr 2024₹92.0t₹29.7t₹5.2t21.6x17.8x3.1x
Fri, 01 Mar 2024₹89.8t₹29.7t₹5.2t22.2x17.4x3x
Sun, 28 Jan 2024₹91.1t₹30.3t₹5.5t22.4x16.6x3x
Tue, 26 Dec 2023₹89.6t₹29.3t₹5.3t21.2x16.9x3.1x
Thu, 23 Nov 2023₹82.4t₹29.5t₹5.4t20.3x15.4x2.8x
Sat, 21 Oct 2023₹81.9t₹28.9t₹5.1t21.7x16x2.8x
Mon, 18 Sep 2023₹83.3t₹28.5t₹5.0t21.9x16.6x2.9x
Wed, 16 Aug 2023₹77.2t₹28.5t₹5.0t19.9x15.4x2.7x
Fri, 14 Jul 2023₹73.5t₹26.5t₹4.6t23.6x15.9x2.8x
Price to Earnings Ratio

15.9x


Total Market Cap: ₹73.5tTotal Earnings: ₹4.6tTotal Revenue: ₹26.5tTotal 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 15% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market1.76%
Financials1.39%
Consumer Finance3.92%
Diversified Financial2.92%
Capital Markets1.15%
Banks0.66%
Mortgage Finance0%0
Insurance-0.49%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 26.4x.
    • Analysts are expecting annual earnings growth of 17.6%, which is higher than its past year's earnings growth of 6.8% 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 31% per year.
  • In contrast, the Insurance industry is expected to see its earnings grow by 9.8% 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
HDFCBANK HDFC Bank₹829.303.9%
+₹482.8b		-17.1%PB2.2x
ICICIBANK ICICI Bank₹1.41k2.9%
+₹283.2b		-1.9%PB2.8x
BAJFINANCE Bajaj Finance₹1.04k3.8%
+₹234.2b		12.4%PE34x
BAJAJFINSV Bajaj Finserv₹1.89k5.9%
+₹167.5b		-6.6%PE30.7x
SBIN State Bank of India₹1.04k1.1%
+₹103.4b		27.7%PB1.6x

Latest News

500247
₹381.70
Kotak Mahindra Bank
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1Y
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BSE
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1Y
48.7%
MAHABANK
₹83.19
Bank of Maharashtra
7D
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1Y
46.4%
ICICIBANK
₹1,414.70
ICICI Bank
7D
2.9%
1Y
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HDFCBANK
₹829.30
HDFC Bank
7D
3.9%
1Y
-17.1%
UNIONBANK
₹161.08
Union Bank of India
7D
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1Y
7.2%
ICICIAMC
₹3,201.90
ICICI Prudential Asset Management
7D
-3.5%
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.
GROWW
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Billionbrains Garage Ventures
7D
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1Y
n/a
Narrative Update • Jun 26

GROWW: Index Addition And Equity Offering Will Highlight Lofty Earnings Multiple

Analysts have revised their fair value estimate for Billionbrains Garage Ventures from ₹138 to about ₹163.89, citing updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. What's in the News for Billionbrains Garage Ventures Billionbrains Garage Ventures Limited (NSEI:GROWW) has been added to the FTSE All-World Index (USD), according to index constituent updates.
PAYTM
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One97 Communications
7D
9.2%
1Y
36.8%
Narrative Update • Jun 25

PAYTM: Upcoming Board Decisions And Teen Payment Push Will Support Upside

Analysts have trimmed their fair value estimate for One97 Communications slightly from ₹1,370.84 to ₹1,360.63, reflecting updated views on discount rate, revenue growth, profit margin and future P/E assumptions. What’s in the News for One97 Communications Yatra Online founders have reportedly explored a potential sale of a controlling stake, with Paytm Travel from One97 Communications mentioned among several companies contacted, while both Paytm and Ixigo have denied any interest in acquiring Yatra, according to people cited in the report and company responses.
BAJAJFINSV
₹1,885.30
Bajaj Finserv
7D
5.9%
1Y
-6.6%
Narrative Update • Jun 23

BAJAJFINSV: Centenary Dividend And Stable Assumptions Will Support Measured Future Returns

Analysts now see Bajaj Finserv’s fair value holding steady at about ₹1,688, with only small tweaks to the discount rate, revenue growth assumptions, profit margin, and future P/E feeding into a largely unchanged price target narrative. What's in the News for Bajaj Finserv The Board of Directors of Bajaj Finserv met on April 30, 2026 to consider and approve standalone and consolidated audited financial results for the quarter and financial year ended March 31, 2026, recommend a dividend on equity shares for the year, and consider the reappointment of statutory auditors.
BAJFINANCE
₹1,042.50
Bajaj Finance
7D
3.8%
1Y
12.4%
Narrative Update • Jun 23

BAJFINANCE: Dividend Moves And Slight Assumption Shifts Will Shape Future Returns

The latest narrative update for Bajaj Finance reflects a modest upward revision in the analyst fair value estimate to ₹1,063.86 from ₹1,059.09, as analysts adjust their assumptions around the discount rate, revenue growth, profit margin and future P/E to align with recent research inputs. What's in the News Bajaj Finance has proposed a special dividend of ₹0.60 per equity share, linked to the exceptional gain on the sale of Bajaj Housing Finance Limited shares for the financial year ended 31 March 2026, with the proposal scheduled for approval at the AGM on 30 July 2026.
INDUSINDBK
₹1,022.25
IndusInd Bank
7D
10.6%
1Y
20.2%
Narrative Update • Jun 22

INDUSINDBK: Fair Outlook As Capital Gains Scheme And Governance Events Evolve

Analysts have inched up their fair value estimate for IndusInd Bank to roughly ₹880 from about ₹877, citing updated assumptions around revenue growth, profit margin and forward P/E levels. What’s in the News for IndusInd Bank Board meeting scheduled for April 24, 2026 to consider and approve audited consolidated and standalone financial results for the quarter and financial year ended March 31, 2026, and to consider recommending a dividend for FY 2025-26, along with approval of a Fair Disclosure Code for unpublished price sensitive information (Key Developments).
SBIN
₹1,038.10
State Bank of India
7D
1.1%
1Y
27.7%
Narrative Update • Jun 19

SBIN: Upcoming Dividend And Debt Fundraising Plan Will Support Bullish Outlook

The latest narrative update on State Bank of India reflects a marginally higher analyst fair value estimate, with the price target moving from ₹1,195 to about ₹1,195.61 as analysts adjust inputs such as discount rate, expected revenue growth, profit margin, and future P/E assumptions. What’s in the News for State Bank of India Board meeting scheduled on June 18, 2026 to consider seeking approval for raising funds during FY27 through public or private issuance of debt instruments, including capital instruments, to overseas and Indian investors in INR and foreign currencies.
BANKBARODA
₹247.85
Bank of Baroda
7D
-9.0%
1Y
3.4%
Narrative Update • Jun 17

BANKBARODA: Dividend Payout And Bond Issuance Plan Will Shape Stock Outlook

The analyst price target for Bank of Baroda has been adjusted slightly to ₹311.47 from ₹311.35, reflecting updated views on discount rate, revenue growth, profit margin, and future P/E assumptions cited by analysts. What’s in the News for Bank of Baroda Bank of Baroda announced an annual dividend of ₹8.50 per share, payable on July 23, 2026, with ex-date and record date on June 5, 2026.
SBILIFE
₹1,832.30
SBI Life Insurance
7D
3.8%
1Y
0.8%
Narrative Update • Jun 15

SBILIFE: Upcoming Audit Review Will Support Constructive Long Term Repricing

Analysts have nudged their fair value estimate for SBI Life Insurance slightly lower from about ₹2,384 to around ₹2,341, citing updated assumptions on revenue growth, profit margin and future P/E as the key drivers of this recalibration. What's in the News SBI Life Insurance has scheduled a board meeting on Apr 22, 2026.
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1Y
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