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Indian (NIFTY) Banks Industry Analysis

UpdatedApr 07, 2026
DataAggregated Company Financials
Companies41
  • 7D4.9%
  • 3M-11.4%
  • 1Y7.4%
  • YTD-10.4%

In the last week, the Banks industry is up 4.9%, with HDFC Bank up 5.5%. Meanwhile, Karur Vysya Bank actually underperformed within the industry, shrinking 9.5% in the last week. This takes the industry's 12 month performance to a gain of 7.4%. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

Has the Indian Banks Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026₹52.0t₹15.1t₹4.0t11.5x12.9x3.4x
Thu, 05 Mar 2026₹58.3t₹15.1t₹4.0t12.9x14.4x3.9x
Sat, 31 Jan 2026₹58.4t₹15.0t₹4.0t12.3x14.5x3.9x
Mon, 29 Dec 2025₹57.2t₹14.7t₹4.0t11.8x14.5x3.9x
Wed, 26 Nov 2025₹57.6t₹14.7t₹4.0t11.8x14.6x3.9x
Fri, 24 Oct 2025₹56.8t₹14.7t₹4.0t12x14.3x3.9x
Sun, 21 Sep 2025₹54.1t₹14.9t₹3.9t12x13.8x3.6x
Tue, 19 Aug 2025₹53.8t₹14.9t₹3.9t11.9x13.7x3.6x
Thu, 17 Jul 2025₹55.0t₹14.6t₹4.0t12.8x13.8x3.8x
Sat, 14 Jun 2025₹53.3t₹14.7t₹4.0t12.5x13.4x3.6x
Mon, 12 May 2025₹51.2t₹14.8t₹4.0t10.4x12.8x3.4x
Wed, 09 Apr 2025₹48.7t₹14.3t₹3.9t9.8x12.4x3.4x
Fri, 07 Mar 2025₹47.0t₹14.3t₹3.9t9.9x11.9x3.3x
Sun, 02 Feb 2025₹48.5t₹14.2t₹3.9t10.2x12.6x3.4x
Tue, 31 Dec 2024₹49.5t₹14.1t₹3.8t9.8x13.1x3.5x
Thu, 28 Nov 2024₹51.1t₹14.1t₹3.8t10.3x13.5x3.6x
Sat, 26 Oct 2024₹49.1t₹13.9t₹3.7t10x13.4x3.5x
Mon, 23 Sep 2024₹51.8t₹13.7t₹3.6t10.3x14.3x3.8x
Wed, 21 Aug 2024₹50.3t₹13.7t₹3.6t11x13.9x3.7x
Fri, 19 Jul 2024₹52.3t₹13.0t₹3.4t11.9x15.2x4x
Sun, 16 Jun 2024₹50.3t₹13.1t₹3.4t11.9x14.6x3.8x
Tue, 14 May 2024₹47.8t₹13.2t₹3.5t11.5x13.8x3.6x
Thu, 11 Apr 2024₹49.3t₹11.9t₹3.2t12.4x15.6x4.1x
Sat, 09 Mar 2024₹48.3t₹11.9t₹3.2t11.6x15.3x4.1x
Mon, 05 Feb 2024₹46.0t₹11.8t₹3.2t13.4x14.4x3.9x
Wed, 03 Jan 2024₹45.7t₹11.1t₹3.0t12.5x15.1x4.1x
Fri, 01 Dec 2023₹42.1t₹11.1t₹3.0t11.8x13.8x3.8x
Sun, 29 Oct 2023₹40.5t₹10.8t₹3.0t12.3x13.5x3.7x
Tue, 26 Sep 2023₹42.4t₹10.3t₹2.8t13.4x15.1x4.1x
Thu, 24 Aug 2023₹41.2t₹10.3t₹2.8t12.9x14.6x4x
Sat, 22 Jul 2023₹42.1t₹9.7t₹2.6t13.8x16.5x4.4x
Mon, 19 Jun 2023₹36.5t₹9.5t₹2.5t11.3x14.6x3.8x
Wed, 17 May 2023₹36.8t₹9.3t₹2.4t11.5x15.5x3.9x
Fri, 14 Apr 2023₹35.3t₹8.6t₹2.3t10.7x15.1x4.1x
Price to Earnings Ratio

15.1x


Total Market Cap: ₹35.3tTotal Earnings: ₹2.3tTotal Revenue: ₹8.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Banks Industry Price to Earnings3Y Average 14.1x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Banks 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 14.1x.
  • The industry is trading close to its 3-year average PS ratio of 3.8x.
Past Earnings Growth
  • The earnings for companies in the Banks industry have grown 20% per year over the last three years.
  • Revenues for these companies have grown 21% 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 industry?

IN Market3.69%
Financials4.70%
Banks4.91%
Regional Banks6.69%
Diversified Banks4.87%
Industry PE
  • Investors are most optimistic about the Regional Banks industry which is trading above its 3-year average PE ratio of 17.4x.
    • Analysts are expecting annual earnings growth of 29.3%, which is higher than its past year's earnings growth of 10.0% per year.
  • Investors are most pessimistic about the Diversified Banks industry, which is trading close to its 3-year average of 14.1x.
Forecasted Growth
  • Analysts are most optimistic on the Regional Banks industry, expecting annual earnings growth of 29% over the next 5 years.
  • This is better than its past earnings growth rate of 10% per year.
  • In contrast, the Diversified 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
HDFCBANK HDFC Bank₹772.005.5%
+₹622.7b
-12.7%PB2.1x
SBIN State Bank of India₹1.03k5.2%
+₹470.8b
34.1%PB1.6x
ICICIBANK ICICI Bank₹1.25k3.3%
+₹283.6b
-4.2%PB2.6x
532215 Axis Bank₹1.25k7.6%
+₹275.9b
16.1%PB1.9x
500247 Kotak Mahindra Bank₹362.702.7%
+₹94.5b
-11.7%PB2.1x

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