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Indian (NIFTY) Financials Sector Analysis

UpdatedJul 10, 2026
DataAggregated Company Financials
Companies639
  • 7D-1.2%
  • 3M2.5%
  • 1Y-0.8%
  • YTD-3.3%

Over the last 7 days, the Financials industry has dropped 1.2%, driven by a pullback from Kotak Mahindra Bank of 4.8%. Over the last year, the industry has been flat overall. 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
Fri, 10 Jul 2026₹116.0t₹38.0t₹7.1t24.4x16.3x3.1x
Sun, 07 Jun 2026₹109.4t₹38.1t₹7.1t22.1x15.4x2.9x
Tue, 05 May 2026₹112.9t₹37.2t₹6.9t22.2x16.3x3x
Thu, 02 Apr 2026₹103.0t₹37.0t₹6.8t19.5x15.1x2.8x
Sat, 28 Feb 2026₹119.0t₹37.0t₹6.8t21x17.5x3.2x
Mon, 26 Jan 2026₹114.9t₹35.9t₹6.7t22.3x17.2x3.2x
Wed, 24 Dec 2025₹118.3t₹35.2t₹6.6t23.6x17.9x3.4x
Fri, 21 Nov 2025₹112.3t₹26.0t₹6.0t24.8x18.6x4.3x
Sun, 19 Oct 2025₹114.0t₹35.1t₹6.5t24.5x17.6x3.2x
Tue, 16 Sep 2025₹108.5t₹35.1t₹6.4t23.4x16.9x3.1x
Thu, 14 Aug 2025₹106.8t₹35.1t₹6.5t24.5x16.5x3x
Sat, 12 Jul 2025₹110.2t₹34.2t₹6.4t25.4x17.3x3.2x
Mon, 09 Jun 2025₹109.3t₹34.3t₹6.4t24.9x17.1x3.2x
Wed, 07 May 2025₹100.4t₹34.3t₹6.3t20x15.9x2.9x
Fri, 04 Apr 2025₹97.9t₹34.0t₹6.3t19.9x15.6x2.9x
Sun, 02 Mar 2025₹90.8t₹34.0t₹6.3t19.4x14.5x2.7x
Tue, 28 Jan 2025₹92.4t₹34.0t₹6.1t21.4x15x2.7x
Thu, 26 Dec 2024₹99.1t₹34.4t₹6.1t23.4x16.2x2.9x
Sat, 23 Nov 2024₹97.9t₹34.4t₹6.1t22.1x16.1x2.8x
Mon, 21 Oct 2024₹101.8t₹33.4t₹5.9t24.2x17.2x3x
Wed, 18 Sep 2024₹103.7t₹33.2t₹5.9t23.6x17.6x3.1x
Fri, 16 Aug 2024₹96.6t₹33.1t₹5.9t22.5x16.5x2.9x
Sun, 14 Jul 2024₹101.2t₹31.9t₹5.6t23.7x18.1x3.2x
Tue, 11 Jun 2024₹95.6t₹32.0t₹5.6t20.9x17.1x3x
Thu, 09 May 2024₹92.2t₹30.6t₹5.5t22x16.8x3x
Sat, 06 Apr 2024₹93.8t₹29.7t₹5.2t22x18.2x3.2x
Mon, 04 Mar 2024₹91.6t₹29.7t₹5.2t22.5x17.8x3.1x
Wed, 31 Jan 2024₹92.2t₹30.4t₹5.4t22.4x16.9x3x
Fri, 29 Dec 2023₹90.8t₹29.3t₹5.3t21.1x17.2x3.1x
Sun, 26 Nov 2023₹83.0t₹29.5t₹5.4t20.5x15.5x2.8x
Tue, 24 Oct 2023₹80.2t₹28.9t₹5.2t21.2x15.5x2.8x
Thu, 21 Sep 2023₹82.4t₹28.5t₹5.0t21.9x16.4x2.9x
Sat, 19 Aug 2023₹76.9t₹28.5t₹5.0t19.6x15.3x2.7x
Mon, 17 Jul 2023₹76.9t₹26.6t₹4.6t23.7x16.6x2.9x
Price to Earnings Ratio

16.6x


Total Market Cap: ₹76.9tTotal Earnings: ₹4.6tTotal Revenue: ₹26.6tTotal 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 Market-0.87%
Financials-1.17%
Insurance0.11%
Mortgage Finance0%0
Consumer Finance-0.37%
Capital Markets-1.32%
Diversified Financial-1.43%
Banks-1.64%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 26.5x.
    • 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₹824.953.0%
+₹368.1b		-16.8%PB2.2x
LICI Life Insurance Corporation of India₹443.053.0%
+₹161.9b		-3.9%PE8.7x
INDIANB Indian Bank₹870.709.0%
+₹96.6b		37.9%PB1.5x
PAYTM One97 Communications₹1.34k9.9%
+₹77.1b		41.1%PE155.4x
SBILIFE SBI Life Insurance₹1.86k4.1%
+₹74.4b		1.5%PE75.7x

Latest News

511218
₹1,044.40
Shriram Finance
7D
-1.8%
1Y
56.2%
BAJAJFINSV
₹1,916.00
Bajaj Finserv
7D
1.1%
1Y
-5.0%
500490
₹10,662.75
Bajaj Holdings & Investment
7D
-3.7%
1Y
-22.4%
INDIANB
₹870.70
Indian Bank
7D
9.0%
1Y
37.9%
Narrative Update • Jul 09

INDIANB: Future Dividend And Capital Plan Will Support Higher Repricing

Analysts have lifted their fair value estimate for Indian Bank from about ₹719.77 to ₹910.00, citing updated assumptions around discount rate, revenue growth, profit margin and future P/E that together point to a higher valuation framework. What's in the News for Indian Bank Indian Bank announced an annual dividend of ₹18.25 per share, payable on July 9, 2026, with the ex date and record date set for June 10, 2026.
500247
₹377.80
Kotak Mahindra Bank
7D
-4.8%
1Y
-14.9%
ICICIBANK
₹1,401.20
ICICI Bank
7D
-0.7%
1Y
-1.5%
532215
₹1,323.75
Axis Bank
7D
-1.4%
1Y
12.8%
HDFCBANK
₹824.95
HDFC Bank
7D
3.0%
1Y
-16.8%
ICICIPRULI
₹510.35
ICICI Prudential Life Insurance
7D
5.2%
1Y
-22.8%
LICI
₹443.05
Life Insurance Corporation of India
7D
3.0%
1Y
-3.9%
Narrative Update • Jun 26

LICI: Stake Sale Plans And Share Actions Will Shape Future Pricing

Analysts have reduced their price target for Life Insurance Corporation of India from ₹850.00 to ₹388.50, citing updated assumptions for revenue growth, profit margin, discount rate and future P/E that they now describe as more conservative. What's in the News India is preparing formal marketing for a planned share sale in Life Insurance Corporation of India that could raise up to ₹100,000 million (about $1 billion).
PFC
₹406.50
Power Finance
7D
-4.5%
1Y
-5.7%
Narrative Update • Jun 26

PFC: Proposed Merger And Board Changes Will Shape Future Returns

Analysts have revised their price target for Power Finance to ₹513.57 from ₹491.15, reflecting updated views on the stock's fair value, discount rate, revenue trajectory, profit margins, and future P/E assumptions. What’s in the News for Power Finance A board meeting is scheduled on April 30, 2026 to consider the appointment of Shri Rajesh Kumar Agarwal as Director (Finance) on the Power Finance board with effect from April 23, 2026, and his appointment as Chief Financial Officer from the same date.
ICICIAMC
₹3,159.60
ICICI Prudential Asset Management
7D
-5.3%
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.
PAYTM
₹1,341.80
One97 Communications
7D
9.9%
1Y
41.1%
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.
BAJFINANCE
₹1,020.50
Bajaj Finance
7D
-1.1%
1Y
9.3%
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.
SBILIFE
₹1,862.90
SBI Life Insurance
7D
4.1%
1Y
1.5%
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.
TATACAP
₹360.60
Tata Capital
7D
3.2%
1Y
n/a