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Indian (NIFTY) Diversified Banks Industry Analysis

UpdatedApr 02, 2026
DataAggregated Company Financials
Companies35
  • 7D-4.1%
  • 3M-12.5%
  • 1Y0.9%
  • YTDn/a

Over the last 7 days, the Diversified Banks industry has dropped 4.4%, driven by a pullback from HDFC Bank of 5.1%. As for the longer term, the industry's performance has been flat for the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 02 Apr 2026₹49.8t₹14.9t₹4.0t11.3x12.5x3.3x
Sat, 28 Feb 2026₹58.9t₹14.9t₹4.0t13.4x14.7x4x
Mon, 26 Jan 2026₹56.0t₹14.8t₹4.0t11.3x14.1x3.8x
Wed, 24 Dec 2025₹56.3t₹14.5t₹3.9t11.5x14.4x3.9x
Fri, 21 Nov 2025₹57.1t₹14.5t₹3.9t11.7x14.6x3.9x
Sun, 19 Oct 2025₹55.1t₹14.7t₹3.9t11.7x14.2x3.8x
Tue, 16 Sep 2025₹52.4t₹14.7t₹3.9t11.6x13.5x3.6x
Thu, 14 Aug 2025₹52.3t₹14.7t₹3.9t11.6x13.5x3.6x
Sat, 12 Jul 2025₹53.5t₹14.3t₹3.9t12.6x13.7x3.7x
Mon, 09 Jun 2025₹53.5t₹14.4t₹3.9t12.7x13.7x3.7x
Wed, 07 May 2025₹50.8t₹14.5t₹3.9t9.7x13x3.5x
Fri, 04 Apr 2025₹49.0t₹14.0t₹3.9t9x12.6x3.5x
Sun, 02 Mar 2025₹45.6t₹14.0t₹3.9t9.9x11.8x3.3x
Tue, 28 Jan 2025₹46.1t₹13.9t₹3.8t9.3x12.3x3.3x
Thu, 26 Dec 2024₹49.2t₹13.8t₹3.7t9.7x13.3x3.6x
Sat, 23 Nov 2024₹48.8t₹13.8t₹3.7t9.5x13.1x3.5x
Mon, 21 Oct 2024₹49.5t₹13.6t₹3.6t10.5x13.8x3.6x
Wed, 18 Sep 2024₹49.6t₹13.5t₹3.6t10.2x14x3.7x
Fri, 16 Aug 2024₹48.2t₹13.5t₹3.6t10.6x13.5x3.6x
Sun, 14 Jul 2024₹50.7t₹12.8t₹3.4t11.8x15x4x
Tue, 11 Jun 2024₹49.0t₹12.9t₹3.4t11.5x14.4x3.8x
Thu, 09 May 2024₹47.5t₹12.5t₹3.3t11.9x14.2x3.8x
Sat, 06 Apr 2024₹48.1t₹11.7t₹3.1t12.4x15.5x4.1x
Mon, 04 Mar 2024₹46.8t₹11.7t₹3.1t11.6x15.1x4x
Wed, 31 Jan 2024₹43.7t₹11.5t₹3.1t12.3x14x3.8x
Fri, 29 Dec 2023₹45.0t₹10.8t₹3.0t12.4x15.1x4.2x
Sun, 26 Nov 2023₹40.4t₹10.8t₹3.0t11.9x13.6x3.7x
Tue, 24 Oct 2023₹39.5t₹10.5t₹2.9t13x13.7x3.8x
Thu, 21 Sep 2023₹41.9t₹10.1t₹2.8t13.5x15.1x4.1x
Sat, 19 Aug 2023₹39.7t₹10.1t₹2.8t12.6x14.4x3.9x
Mon, 17 Jul 2023₹39.9t₹9.3t₹2.4t14.1x16.3x4.3x
Wed, 14 Jun 2023₹35.6t₹9.4t₹2.4t12.8x14.6x3.8x
Fri, 12 May 2023₹35.5t₹9.1t₹2.3t11.1x15.4x3.9x
Sun, 09 Apr 2023₹33.6t₹8.4t₹2.3t11x14.7x4x
Price to Earnings Ratio

14.7x


Total Market Cap: ₹33.6tTotal Earnings: ₹2.3tTotal Revenue: ₹8.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Diversified Banks Industry Price to Earnings3Y Average 14.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Diversified Banks industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 12.2x which is lower than its 3-year average PE of 14.1x.
  • The 3-year average PS ratio of 3.8x is higher than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Diversified Banks industry have grown 21% 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 Comparison

How does Indian Diversified Banks compare with similar industries?

IN Market-2.14%
Financials-4.00%
Banks-4.06%
Diversified Banks-4.08%
Regional Banks-3.36%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
IDBI IDBI Bank₹69.553.6%
+₹25.8b		-13.7%PB1.1x
TMB Tamilnad Mercantile Bank₹623.653.3%
+₹3.2b		44.7%PB1x
ESAFSFB ESAF Small Finance Bank₹23.496.0%
+₹680.7m		-14.4%PB0.7x
UTKARSHBNK Utkarsh Small Finance Bank₹11.722.8%
+₹569.4m		-52.0%PB0.9x
KTKBANK Karnataka Bank₹227.470.4%
+₹374.4m		20.7%PB0.7x

Latest News

ICICIBANK
₹1,215.80
ICICI Bank
7D
-3.5%
1Y
-8.6%

ICICIBANK: Future GST Dispute Resolutions Will Support Bullish Case

Analysts have made a small cut to the ICICI Bank price target, trimming it by about ₹5 to reflect slightly adjusted fair value, discount rate, growth and margin assumptions, while keeping the forward P/E view largely consistent. What's in the News GST order from Maharashtra authority raises a tax demand of ₹3,843,353,972 with an equivalent penalty and applicable interest on services linked to specified minimum balance accounts.
HDFCBANK
₹750.90
HDFC Bank
7D
-4.0%
1Y
-16.3%

HDFCBANK: Governance Resolutions And Leadership Reappointment Will Support Future Share Price Rebound

Analysts have slightly reduced their price target on HDFC Bank, with fair value moving from about ₹1,152.82 to roughly ₹1,137.03, reflecting updated assumptions for revenue growth, profit margin and future P/E. What's in the News Board meeting scheduled for February 3, 2026 to consider the reappointment of Mr. Kaizad Bharucha as Deputy Managing Director for a 3-year term from April 19, 2026 to April 18, 2029 (board meeting agenda).
532215
₹1,198.15
Axis Bank
7D
-2.0%
1Y
9.9%

532215: Preferred EV Financing Partnership Will Support Medium Term Upside

Analysts have made a small trim to the Axis Bank fair value estimate, with the price target moving from about ₹1,499.70 to roughly ₹1,496.18 as they refresh assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Axis Bank has been named a preferred financing partner for Tesla in India, offering loan tenures of up to 10 years for premium electric vehicles, with end to end digital loan processing and no paperwork for buyers.
PNB
₹104.48
Punjab National Bank
7D
-5.1%
1Y
5.5%

PNB: Bad Loan Auctions Will Unlock Value Through Large NPA Resolutions

Analysts have kept their price target for Punjab National Bank broadly unchanged at around ₹131.76, reflecting stable assumptions on discount rate, revenue growth, profit margin and future P/E. This suggests that their overall view on the stock's valuation remains steady.
BANKBARODA
₹249.56
Bank of Baroda
7D
-8.5%
1Y
5.4%

BANKBARODA: Planned Long Term Bond Issue Will Support Bullish Outlook

Analysts have trimmed their 1 year price target for Bank of Baroda slightly to about ₹332 from roughly ₹333, reflecting small adjustments to long term fair value drivers such as the discount rate, revenue growth, profit margin and forward P/E assumptions. What's in the News United Forum of Bank Unions has given notice of a proposed strike on January 27, 2026, over various issues and demands.
SBIN
₹1,018.40
State Bank of India
7D
-4.0%
1Y
30.7%

SBIN: Upcoming Shareholder Meetings Will Strengthen Governance And Support Bullish Outlook

Analysts have inched their fair value estimate for State Bank of India slightly lower from about ₹1,207.82 to around ₹1,207.05, reflecting modest tweaks to assumptions on discount rate, revenue growth, profit margin and future P/E rather than any major shift in the core outlook. What's in the News Board meeting scheduled for Feb 07, 2026 at 10:00 Indian Standard Time to consider financial results for the quarter ended Dec 31, 2025 and review related regulatory disclosures, including security cover certificates on non convertible debt securities and statements of deviation or variation under SEBI LODR regulations (Company event filing).
500247
₹358.15
Kotak Mahindra Bank
7D
-3.5%
1Y
-16.0%

500247: Planned Debt Issuances And Leadership Changes Will Support Future Upside

Analysts have slightly reduced their price target for Kotak Mahindra Bank to about ₹488, reflecting modest adjustments to assumptions on fair value, discount rate, revenue growth, profit margin and future P/E that together indicate a largely unchanged overall view on the stock. What's in the News A special shareholders meeting is scheduled for Mar 4, 2026 via postal ballot in India to seek approval for appointing Anup Kumar Saha as whole time director and setting his remuneration, along with authorisation to issue unsecured, redeemable, non convertible debentures or other debt securities on a private placement basis during FY 2026 27 (company filing).
CANBK
₹127.04
Canara Bank
7D
-7.0%
1Y
34.6%

CANBK: Interim Leadership And Refined Assumptions Will Support An Undervalued Opportunity

Analysts have made a small upward revision to the implied fair value for Canara Bank to ₹161.63 from ₹159.34, reflecting refreshed assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News Board meeting scheduled on January 29, 2026 to consider and approve the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025 (Key Developments).
IDBI
₹69.55
IDBI Bank
7D
3.6%
1Y
-13.7%
KTKBANK
₹227.47
Karnataka Bank
7D
0.4%
1Y
20.7%
TMB
₹623.65
Tamilnad Mercantile Bank
7D
3.3%
1Y
44.7%

Is Now The Time To Put Tamilnad Mercantile Bank (NSE:TMB) On Your Watchlist?

Feb 18
Is Now The Time To Put Tamilnad Mercantile Bank (NSE:TMB) On Your Watchlist?
UTKARSHBNK
₹11.72
Utkarsh Small Finance Bank
7D
2.8%
1Y
-52.0%
ESAFSFB
₹23.49
ESAF Small Finance Bank
7D
6.0%
1Y
-14.4%