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Indian (NIFTY) Market Analysis & Valuation

UpdatedNov 11, 2025
DataAggregated Company Financials
Companies4866
  • 7D-0.4%
  • 3M3.8%
  • 1Y2.8%
  • YTD2.2%

In the last week, the market has been flat. Similarly, the market is flat for the past 12 months. Earnings are forecast to grow by 16% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Indian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 12 Nov 2025₹467.2t₹181.6t₹18.2t27.4x25.7x2.6x
Fri, 10 Oct 2025₹459.5t₹179.0t₹17.6t27.7x26x2.6x
Sun, 07 Sep 2025₹450.5t₹177.8t₹17.6t27.8x25.6x2.5x
Tue, 05 Aug 2025₹446.5t₹175.3t₹17.4t29.1x25.7x2.5x
Thu, 03 Jul 2025₹458.9t₹173.4t₹17.2t29.8x26.7x2.6x
Sat, 31 May 2025₹443.0t₹173.6t₹17.2t28x25.8x2.6x
Mon, 28 Apr 2025₹418.6t₹169.6t₹16.8t26.8x24.9x2.5x
Wed, 26 Mar 2025₹410.8t₹169.0t₹16.8t25.6x24.5x2.4x
Fri, 21 Feb 2025₹401.1t₹169.0t₹16.8t26.4x23.9x2.4x
Sun, 19 Jan 2025₹426.7t₹167.9t₹16.4t31.3x26x2.5x
Tue, 17 Dec 2024₹457.9t₹167.6t₹16.3t33.1x28x2.7x
Thu, 14 Nov 2024₹427.6t₹166.6t₹16.2t31.6x26.3x2.6x
Sat, 12 Oct 2024₹459.5t₹163.1t₹16.0t33.7x28.7x2.8x
Mon, 09 Sep 2024₹457.1t₹162.9t₹16.0t34.4x28.6x2.8x
Wed, 07 Aug 2024₹435.8t₹161.9t₹15.8t33.3x27.6x2.7x
Fri, 05 Jul 2024₹445.2t₹160.1t₹15.8t34.2x28.2x2.8x
Sun, 02 Jun 2024₹410.3t₹165.5t₹16.6t30.1x24.7x2.5x
Tue, 30 Apr 2024₹402.0t₹156.7t₹15.1t31.7x26.7x2.6x
Thu, 28 Mar 2024₹378.9t₹154.9t₹14.8t28.6x25.6x2.4x
Sat, 24 Feb 2024₹388.2t₹154.8t₹14.8t31.9x26.3x2.5x
Mon, 22 Jan 2024₹370.3t₹153.3t₹14.3t31.4x25.9x2.4x
Wed, 20 Dec 2023₹355.0t₹152.2t₹14.2t29.5x25.1x2.3x
Fri, 17 Nov 2023₹321.8t₹152.3t₹14.2t27.7x22.7x2.1x
Sun, 15 Oct 2023₹318.2t₹151.2t₹13.2t28.4x24.2x2.1x
Tue, 12 Sep 2023₹325.1t₹152.3t₹13.4t28.3x24.3x2.1x
Thu, 10 Aug 2023₹308.5t₹151.4t₹13.3t27x23.2x2x
Sat, 08 Jul 2023₹296.8t₹150.0t₹12.5t26x23.8x2x
Mon, 05 Jun 2023₹282.4t₹150.2t₹12.5t24.4x22.6x1.9x
Wed, 03 May 2023₹269.3t₹146.0t₹12.3t22.2x22x1.8x
Fri, 31 Mar 2023₹252.5t₹144.9t₹12.2t20x20.8x1.7x
Sun, 26 Feb 2023₹257.3t₹144.7t₹12.2t21.1x21.2x1.8x
Tue, 24 Jan 2023₹277.9t₹140.3t₹11.9t23x23.3x2x
Thu, 22 Dec 2022₹280.6t₹139.1t₹11.9t22.7x23.6x2x
Sat, 19 Nov 2022₹279.4t₹139.0t₹11.9t22.3x23.5x2x
Price to Earnings Ratio

23.5x


Total Market Cap: ₹279.4tTotal Earnings: ₹11.9tTotal Revenue: ₹139.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25x202320242025
Current Market PE
  • Investors are relatively neutral on the Indian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 25.0x.
Past Earnings Growth
  • The earnings for Indian listed companies have grown 15% per year over the last three years.
  • Revenues for these companies have grown 9.3% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Indian Market?

IN Market-0.42%
Tech1.42%
Energy1.06%
Materials-0.11%
Financials-0.25%
Industrials-0.43%
Consumer Discretionary-0.62%
Consumer Staples-0.91%
Healthcare-1.39%
Real Estate-1.61%
Utilities-2.34%
Telecom-2.92%
Sector PE
  • Investors favour the Real Estate sector the most for future growth, which is trading close to its 3-year average PE ratio of 51.0x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 26.9%, which is higher than its past year's earnings growth of 10.3% per year.
  • The Energy sector is the least preferred by investors for future growth, which is trading close to its 3-year average of 13.7x.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings growth rate of 10% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.0% per year over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
RELIANCE Reliance Industries₹1.51k2.6%
+₹519.6b		20.7%PE24.6xEnergy
TCS Tata Consultancy Services₹3.13k4.7%
+₹512.3b		-24.5%PE22.9xTech
INFY Infosys₹1.55k5.7%
+₹347.4b		-17.0%PE22.2xTech
ASIANPAINT Asian Paints₹2.77k11.4%
+₹271.5b		12.1%PE73.9xMaterials
M&M Mahindra & Mahindra₹3.75k4.8%
+₹193.2b		34.1%PE29.4xConsumer Discretionary
See more

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ASIANPAINT
₹2,769.80
Asian Paints
7D
11.4%
1Y
12.1%
500440
₹794.05
Hindalco Industries
7D
-4.4%
1Y
26.7%
BAJFINANCE
₹1,013.20
Bajaj Finance
7D
-4.1%
1Y
54.3%
ADANIPORTS
₹1,506.90
Adani Ports and Special Economic Zone
7D
4.3%
1Y
17.0%

ADANIPORTS: Profit Margins Will Improve As Discount Rate Continues To Fall

Analysts have raised their price target for Adani Ports and Special Economic Zone from ₹1,717.78 to ₹1,736.26. They cite improved profit margins and a lower perceived discount rate, despite slightly reduced revenue growth projections.
ADANIPOWER
₹151.98
Adani Power
7D
-4.0%
1Y
38.9%
500251
₹4,373.85
Trent
7D
-6.1%
1Y
-32.7%
POWERGRID
₹267.10
Power Grid Corporation of India
7D
-4.3%
1Y
-16.0%

POWERGRID: Interim Dividend And Auditor Changes Will Strengthen Shareholder Returns Outlook

Narrative Update on Power Grid Corporation of India Analysts have slightly reduced their price target for Power Grid Corporation of India from ₹319 to ₹316.04, citing changes in underlying growth and profitability assumptions. What's in the News The Board of Directors will meet on November 3, 2025, to review and approve unaudited financial results for the quarter and half-year ended September 30, 2025.
M&M
₹3,754.30
Mahindra & Mahindra
7D
4.8%
1Y
34.1%

M&M: Future Margins And Partnerships Will Shape Balanced Outlook

Analysts have increased their price target for Mahindra & Mahindra from ₹3,891.31 to ₹3,993.94. They cite expectations of improved profit margins and a lower discount rate, even though revenue growth projections have been moderated.
GRASIM
₹2,767.40
Grasim Industries
7D
-4.0%
1Y
10.6%

GRASIM: Board Will Approve Renewable Energy Acquisitions To Drive Expansion

Analysts have raised their price target for Grasim Industries from ₹3,250 to ₹3,296. They cited slight improvements in profit margin and forward P/E expectations, despite a marginally higher discount rate.
HCLTECH
₹1,594.00
HCL Technologies
7D
4.2%
1Y
-14.5%

HCL Technologies (NSE:HCLTECH) Seems To Use Debt Rather Sparingly

Nov 06
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DMART
₹4,058.00
Avenue Supermarts
7D
-3.0%
1Y
7.9%

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Nov 05
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532454
₹2,073.50
Bharti Airtel
7D
-1.9%
1Y
33.7%

532454: AI Investments And Partnerships Will Strengthen Fair Value Outlook

Analysts have raised their price target for Bharti Airtel from ₹2,087.34 to ₹2,124.03. This reflects increased confidence in improved profit margins and favorable future valuation multiples, despite a slightly moderated revenue growth outlook.
RELIANCE
₹1,511.50
Reliance Industries
7D
2.6%
1Y
20.7%

RELIANCE: Upcoming AI Partnership And Digital Expansion Will Drive Earnings Momentum

Analysts have raised their price target for Reliance Industries from ₹1,664 to ₹1,686. They cite improved revenue growth projections and stronger profit margins in their updated outlook.
ICICIBANK
₹1,358.90
ICICI Bank
7D
1.6%
1Y
8.4%

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Nov 03
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INFY
₹1,551.70
Infosys
7D
5.7%
1Y
-17.0%

INFY: Continued Digital Demand Will Drive Margin Strength Despite New Visa Fees

Infosys’ analyst price target was slightly reduced from ₹1,705.95 to ₹1,704.36, as analysts cited minor adjustments to growth and discount rate assumptions. They maintained confidence in profit margin strength and fair value.
TCS
₹3,131.80
Tata Consultancy Services
7D
4.7%
1Y
-24.5%

TCS: Expansion Of AI Data Centers Will Drive Long-Term Market Leadership

Analysts have slightly revised their price target for Tata Consultancy Services downward from ₹3,509.55 to ₹3,500.50, citing minor adjustments in discount rates and projected growth estimates as the basis for this change. What's in the News Tata Consultancy Services (TCS) and Box, Inc.