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Indian (NIFTY) Diversified Banks Industry Analysis

UpdatedFeb 15, 2026
DataAggregated Company Financials
Companies35
  • 7D1.0%
  • 3M3.4%
  • 1Y23.6%
  • YTDn/a

In the last week, the Diversified Banks industry is up 1.0%, with State Bank of India up 12%. In the last 12 months, the industry was up 24%. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 15 Feb 2026₹58.2t₹14.9t₹4.0t13.3x14.6x3.9x
Tue, 13 Jan 2026₹56.7t₹14.5t₹3.9t12.1x14.5x3.9x
Thu, 11 Dec 2025₹55.9t₹14.5t₹3.9t11.1x14.3x3.9x
Sat, 08 Nov 2025₹55.8t₹14.5t₹3.9t11.6x14.3x3.8x
Mon, 06 Oct 2025₹53.4t₹14.7t₹3.9t11.7x13.8x3.6x
Wed, 03 Sep 2025₹51.0t₹14.7t₹3.9t11.8x13.2x3.5x
Fri, 01 Aug 2025₹52.8t₹14.6t₹3.9t11.9x13.6x3.6x
Sun, 29 Jun 2025₹53.9t₹14.3t₹3.9t12.6x13.8x3.8x
Tue, 27 May 2025₹52.4t₹14.5t₹3.9t11.8x13.4x3.6x
Thu, 24 Apr 2025₹52.2t₹14.3t₹3.9t9.5x13.4x3.6x
Sat, 22 Mar 2025₹48.4t₹14.0t₹3.9t9.6x12.5x3.5x
Mon, 17 Feb 2025₹46.5t₹14.0t₹3.9t10.2x12x3.3x
Wed, 15 Jan 2025₹46.6t₹13.8t₹3.7t9.3x12.6x3.4x
Fri, 13 Dec 2024₹51.4t₹13.8t₹3.7t10.6x13.9x3.7x
Sun, 10 Nov 2024₹49.7t₹13.8t₹3.7t10.1x13.4x3.6x
Tue, 08 Oct 2024₹47.8t₹13.5t₹3.6t10x13.4x3.5x
Thu, 05 Sep 2024₹49.4t₹13.5t₹3.6t10.6x13.9x3.7x
Sat, 03 Aug 2024₹50.3t₹13.5t₹3.5t11.3x14.2x3.7x
Mon, 01 Jul 2024₹50.8t₹12.9t₹3.4t11.3x15x3.9x
Wed, 29 May 2024₹48.8t₹13.0t₹3.4t11.6x14.3x3.8x
Fri, 26 Apr 2024₹48.3t₹12.1t₹3.3t12.5x14.7x4x
Sun, 24 Mar 2024₹45.9t₹11.7t₹3.1t11.5x14.8x3.9x
Tue, 20 Feb 2024₹46.4t₹11.7t₹3.1t11.9x15x4x
Thu, 18 Jan 2024₹43.5t₹11.2t₹3.0t13.1x14.4x3.9x
Sat, 16 Dec 2023₹44.9t₹10.8t₹3.0t12.7x15.1x4.1x
Mon, 13 Nov 2023₹40.4t₹10.8t₹3.0t11.9x13.6x3.7x
Wed, 11 Oct 2023₹41.1t₹10.1t₹2.8t14.5x14.9x4.1x
Fri, 08 Sep 2023₹40.8t₹10.1t₹2.8t13.7x14.8x4x
Sun, 06 Aug 2023₹40.1t₹10.1t₹2.8t13.2x14.5x4x
Tue, 04 Jul 2023₹36.7t₹9.3t₹2.4t13.2x15x3.9x
Thu, 01 Jun 2023₹35.7t₹9.6t₹2.4t12x14.6x3.7x
Sat, 29 Apr 2023₹35.7t₹8.8t₹2.2t12x16x4.1x
Mon, 27 Mar 2023₹32.2t₹8.4t₹2.3t10.3x14.1x3.8x
Wed, 22 Feb 2023₹33.3t₹8.4t₹2.3t12.1x14.6x4x
Price to Earnings Ratio

14.6x


Total Market Cap: ₹33.3tTotal 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 relatively neutral on the Indian Diversified 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 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-0.39%
Financials0.48%
Banks0.99%
Diversified Banks1.00%
Regional Banks0.51%
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
SBIN State Bank of India₹1.20k12.4%
+₹1.2t		66.0%PB1.9x
ICICIBANK ICICI Bank₹1.41k0.6%
+₹64.2b		12.3%PB2.9x
IDBI IDBI Bank₹110.753.6%
+₹41.8b		53.6%PB1.7x
INDUSINDBK IndusInd Bank₹926.052.5%
+₹17.5b		-9.6%PB1.1x
RBLBANK RBL Bank₹313.803.9%
+₹7.3b		100.1%PB1.2x

Latest News

JSFB
₹388.15
Jana Small Finance Bank
7D
10.2%
1Y
-2.3%
YESBANK
₹20.86
Yes Bank
7D
-2.0%
1Y
17.5%

YESBANK: New CEO Appointment And Q3 Results Will Shape Balanced Outlook

Analysts have kept their price target on Yes Bank steady at ₹20.27, citing small adjustments in the discount rate, profit margin assumptions and future P/E expectations rather than a major shift in their overall view. What's in the News Yes Bank has appointed Vinay Muralidhar Tonse as Chief Executive Officer for a three year tenure, following approval from the Reserve Bank of India, after his prior role as Managing Director for Retail Business and Operations at State Bank of India up to November 30, 2025 (Key Developments).
HDFCBANK
₹903.90
HDFC Bank
7D
-4.0%
1Y
6.7%

HDFCBANK: Lower Discount Rate Will Support Rebound Despite Recent Regulatory Penalty

Analysts have lifted their price target for HDFC Bank from ₹1,138.35 to ₹1,155.18, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels that together support a slightly higher assessed fair value. What's in the News Penalty of ₹9.1 million imposed on HDFC Bank by the Reserve Bank of India for contraventions related to interest rate directions, outsourcing guidelines and KYC norms, with the bank stating that corrective actions have been taken and that it is in compliance as of the latest communication (regulatory filing).
ICICIBANK
₹1,414.60
ICICI Bank
7D
0.6%
1Y
12.3%
500247
₹420.90
Kotak Mahindra Bank
7D
-0.3%
1Y
7.8%
532215
₹1,333.80
Axis Bank
7D
-0.6%
1Y
33.8%

532215: Boardroom Changes And Stable Risk Oversight Will Support Medium Term Earnings Quality

Analysts have raised their price target for Axis Bank from ₹1,428 to ₹1,490, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News A board meeting is scheduled for November 26, 2025, at 15:00 IST to consider the appointment of Anand Viswanathan as Chief Risk Officer for a 3-year term starting January 1, 2026, replacing Amit Talgeri, and to discuss other matters (Key Developments).
INDUSINDBK
₹926.05
IndusInd Bank
7D
2.5%
1Y
-9.6%

INDUSINDBK: Higher Revenue Assumptions Will Likely Mask Weaker Profitability Ahead

Analysts have lifted their fair value estimate for IndusInd Bank from ₹534.00 to about ₹556.34, reflecting updated views on its revenue growth outlook, profit margin expectations, discount rate and forward P/E assumptions. What's in the News A board meeting is scheduled on January 23, 2026 to consider and approve the unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025 (company filing).
PNB
₹118.76
Punjab National Bank
7D
-3.3%
1Y
28.7%
EQUITASBNK
₹68.54
Equitas Small Finance Bank
7D
5.4%
1Y
9.5%

EQUITASBNK: Upcoming Results Will Support Stronger Margins And Future Upside

Analysts have nudged their price target on Equitas Small Finance Bank up to ₹90.00 from ₹88.89, reflecting updated assumptions around revenue growth, profit margins, discount rate and future P/E that slightly adjust their view of the bank's risk and earnings profile. What's in the News Board meeting scheduled on January 29, 2026 to consider and approve the unaudited financial results for the quarter and nine months ended December 31, 2025 (company filing).
UNIONBANK
₹178.87
Union Bank of India
7D
0.4%
1Y
63.4%

UNIONBANK: Stable Outlook As CFO Transition And Results Guide Fair Assessment

Analysts have kept their fair value estimate for Union Bank of India broadly unchanged at ₹194.73. The slight adjustment is linked mainly to a lower discount rate and a marginally reduced future P/E assumption, which together refine rather than reset their valuation view.
SBIN
₹1,198.60
State Bank of India
7D
12.4%
1Y
66.0%

SBIN: New Leadership And Auditor Appointments Will Shape Earnings Outlook

Analysts have nudged up their fair value estimate for State Bank of India from ₹1,112.31 to ₹1,122.69, citing tweaks to discount rate assumptions, slightly different revenue growth and profit margin expectations, and a modest adjustment to future P/E multiples. What's in the News A board meeting is scheduled on February 7, 2026 at 10:00 Indian Standard Time to consider the financial results for the quarter ended December 31, 2025, along with the Limited Review Report (company filing).
BANKBARODA
₹287.45
Bank of Baroda
7D
-0.6%
1Y
40.1%

BANKBARODA: Bond Plan For Infrastructure And Housing Will Support Bullish Outlook

Analysts have nudged their price target for Bank of Baroda higher from ₹323.65 to ₹330.94, citing updated assumptions around expected revenue growth, profit margins and future P/E levels. 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, and the bank has indicated that while it is planning for smooth operations, branch and office functioning may still be affected if the strike goes ahead (Key Developments).
539437
₹81.40
IDFC First Bank
7D
-4.3%
1Y
34.4%

539437: Upcoming Results Review And Board Changes Will Shape Fair Outlook

Analysts have lifted their price target for IDFC First Bank from ₹81.59 to ₹89.17. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E.
RBLBANK
₹313.80
RBL Bank
7D
3.9%
1Y
100.1%

RBLBANK: Governance Transitions And CFO Changes Will Support A Stronger Outlook

Analysts have lifted their price target on RBL Bank by roughly Rs7 per share, citing an updated fair value of about Rs342.56 that reflects revised assumptions on discount rate, revenue growth, profit margin and future P/E multiples. What's in the News Board meeting scheduled for January 17, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, subject to a limited review by the Joint Statutory Auditors (Key Developments).
CANBK
₹141.77
Canara Bank
7D
-3.8%
1Y
65.6%

CANBK: Interim Leadership And Updated Assumptions Will Guide A Balanced Outlook

Analysts have lifted their fair value estimate for Canara Bank from ₹153.29 to ₹160.23, citing updated assumptions around revenue growth, profit margin, discount rate and future P/E that together support a slightly higher price target. What's in the News Board meeting scheduled for 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 (company filing).
IDBI
₹110.75
IDBI Bank
7D
3.6%
1Y
53.6%