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Indian (NIFTY) Market Analysis & Valuation

UpdatedApr 27, 2026
DataAggregated Company Financials
Companies4989
  • 7D-0.9%
  • 3M1.6%
  • 1Y3.9%
  • YTD-3.9%

The Utilities sector gained 3.6% while the market remained flat over the last week. Meanwhile, the market is actually up 3.9% over the past year. As for the next few years, earnings are expected to grow by 18% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 27 Apr 2026₹460.7t₹192.2t₹18.9t23.5x24.4x2.4x
Wed, 25 Mar 2026₹422.5t₹191.2t₹18.7t20.6x22.6x2.2x
Fri, 20 Feb 2026₹464.7t₹190.9t₹18.7t23x24.9x2.4x
Sun, 18 Jan 2026₹468.0t₹185.2t₹18.2t24.3x25.7x2.5x
Tue, 16 Dec 2025₹469.3t₹184.2t₹18.2t25.7x25.8x2.5x
Thu, 13 Nov 2025₹473.2t₹182.0t₹18.1t27.4x26.1x2.6x
Sat, 11 Oct 2025₹462.7t₹179.1t₹17.7t27.7x26.2x2.6x
Mon, 08 Sep 2025₹450.5t₹177.8t₹17.6t27.8x25.6x2.5x
Wed, 06 Aug 2025₹445.8t₹175.4t₹17.4t28.7x25.6x2.5x
Fri, 04 Jul 2025₹458.3t₹173.4t₹17.2t29.7x26.7x2.6x
Sun, 01 Jun 2025₹443.1t₹173.6t₹17.1t28.3x25.8x2.6x
Tue, 29 Apr 2025₹422.8t₹169.6t₹16.8t26.7x25.1x2.5x
Thu, 27 Mar 2025₹410.8t₹169.0t₹16.8t25.3x24.5x2.4x
Sat, 22 Feb 2025₹398.5t₹169.0t₹16.8t26.5x23.8x2.4x
Mon, 20 Jan 2025₹426.7t₹167.8t₹16.4t31.3x26x2.5x
Wed, 18 Dec 2024₹453.8t₹167.7t₹16.4t33x27.7x2.7x
Fri, 15 Nov 2024₹427.9t₹166.7t₹16.3t31.7x26.3x2.6x
Sun, 13 Oct 2024₹459.5t₹163.1t₹16.0t33.7x28.7x2.8x
Tue, 10 Sep 2024₹456.7t₹162.8t₹16.0t34.3x28.6x2.8x
Thu, 08 Aug 2024₹444.5t₹162.1t₹15.8t33.9x28.1x2.7x
Sat, 06 Jul 2024₹447.9t₹160.1t₹15.8t34.2x28.4x2.8x
Mon, 03 Jun 2024₹410.3t₹165.5t₹16.6t30.1x24.7x2.5x
Wed, 01 May 2024₹402.3t₹156.8t₹15.1t31.7x26.6x2.6x
Fri, 29 Mar 2024₹382.3t₹154.9t₹14.8t28.7x25.9x2.5x
Sun, 25 Feb 2024₹388.2t₹154.8t₹14.8t32x26.3x2.5x
Tue, 23 Jan 2024₹370.2t₹153.3t₹14.3t31.4x25.9x2.4x
Thu, 21 Dec 2023₹346.3t₹152.3t₹14.2t28.8x24.5x2.3x
Sat, 18 Nov 2023₹323.9t₹152.2t₹14.2t27.8x22.8x2.1x
Mon, 16 Oct 2023₹318.2t₹151.3t₹13.2t28.4x24.2x2.1x
Wed, 13 Sep 2023₹320.1t₹152.3t₹13.4t27.3x23.9x2.1x
Fri, 11 Aug 2023₹307.6t₹151.5t₹13.3t26.8x23.1x2x
Sun, 09 Jul 2023₹296.9t₹149.9t₹12.5t26x23.8x2x
Tue, 06 Jun 2023₹283.2t₹150.3t₹12.5t24.6x22.6x1.9x
Thu, 04 May 2023₹270.2t₹146.0t₹12.2t22.3x22.2x1.9x
Price to Earnings Ratio

22.2x


Total Market Cap: ₹270.2tTotal Earnings: ₹12.2tTotal Revenue: ₹146.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Market Price to Earnings3Y Average 25.4x202420252026
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 25.4x.
Past Earnings Growth
  • The earnings for Indian listed companies have grown 16% per year over the last three years.
  • Revenues for these companies have grown 9.6% 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-0.91%
Utilities3.57%
Consumer Staples1.84%
Industrials0.62%
Healthcare-0.065%
Materials-0.58%
Financials-1.10%
Real Estate-1.16%
Energy-1.40%
Consumer Discretionary-1.58%
Telecom-1.94%
Tech-7.72%
Sector PE
  • Investors favour the Consumer Discretionary sector the most for future growth, which is trading above its 3-year average PE ratio of 39.8x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 23.5%, which is higher than its past year's earnings growth of 11.8% 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 31% over the next 5 years.
  • This is better than its past earnings growth rate of 19% per year.
  • In contrast, the Energy sector is expected to see its earnings grow by 7.3% 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
ADANIPOWER Adani Power₹218.058.6%
+₹332.1b		97.2%PE38.3xUtilities
HINDUNILVR Hindustan Unilever₹2.33k4.3%
+₹250.2b		0.4%PE59.5xConsumer Staples
500790 Nestlé India₹1.42k10.0%
+₹248.6b		17.8%PE78.1xConsumer Staples
ADANIENSOL Adani Energy Solutions₹1.44k14.0%
+₹211.9b		55.2%PE75.6xUtilities
VBL Varun Beverages₹518.8511.2%
+₹176.9b		-2.7%PE57.8xConsumer Staples
See more

Market Insights

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Latest News

RELIANCE
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Reliance Industries
7D
-2.7%
1Y
2.1%
HDFCBANK
₹784.85
HDFC Bank
7D
-1.9%
1Y
-17.9%

HDFCBANK: Governance Actions And Leadership Reappointments Will Support Future Share Price Rebound

Analysts have trimmed their fair value estimate for HDFC Bank from about ₹1,105.71 to ₹1,041.89, reflecting updated views on slightly softer revenue growth assumptions, a modestly higher discount rate, a stronger profit margin outlook and a lower future P/E multiple. What's in the News Board meeting on February 3, 2026 to consider a 3 year reappointment of Deputy Managing Director Mr. Kaizad Bharucha from April 19, 2026 to April 18, 2029, subject to approvals (company filing).
ADANIGREEN
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Adani Green Energy
7D
9.6%
1Y
35.4%
INFY
₹1,154.60
Infosys
7D
-12.4%
1Y
-22.0%

INFY: AI Consulting And AI Partnerships Will Support 2026 IT Spending Turnaround

Analysts have trimmed Infosys's fair value estimate from ₹1,592.15 to ₹1,492.25, citing Street research that reflects more cautious assumptions on revenue growth and discount rates. This is partly offset by steady profit margin expectations and a slightly lower future P/E.
VEDL
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Vedanta
7D
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1Y
74.4%
ADANIENSOL
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Adani Energy Solutions
7D
12.1%
1Y
54.4%
HCLTECH
₹1,203.20
HCL Technologies
7D
-16.6%
1Y
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SBILIFE
₹1,768.90
SBI Life Insurance
7D
-10.2%
1Y
4.4%
500790
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Nestlé India
7D
10.5%
1Y
17.7%
SBIN
₹1,101.10
State Bank of India
7D
1.9%
1Y
37.9%

SBIN: Upcoming Related Party Votes Will Support Governance And Balanced Outlook

Analysts have inched down their price target on State Bank of India by about ₹1 to around ₹1,199, reflecting slightly higher discount rate and revenue growth assumptions, partly offset by a marginally firmer profit margin and a steady forward P/E. What's in the News A special shareholders meeting is scheduled for May 15, 2026 at 15:00 Indian Standard Time to address extraordinary matters requiring shareholder approval (Key Developments).
ADANIPOWER
₹212.90
Adani Power
7D
7.3%
1Y
93.8%
TCS
₹2,396.90
Tata Consultancy Services
7D
-7.2%
1Y
-30.5%

TCS: AI Alliances And Dividend Visibility Will Drive Future Upside

Analysts have adjusted their price target for Tata Consultancy Services from ₹3,107.05 to ₹2,948.19, citing updates to discount rate assumptions, revenue growth expectations, profit margin projections and the P/E multiple applied to future earnings. What's in the News Nokian Tyres is expanding its cooperation with Tata Consultancy Services, transferring maintenance and development of IT applications and on-site support for internal operations to TCS from June 1, 2026, as part of Nokian Tyres' broader IT transformation (Key Developments).
HINDUNILVR
₹2,327.30
Hindustan Unilever
7D
3.9%
1Y
-0.2%

HINDUNILVR: Capacity Expansion Investment Will Support Future Upside Potential

Analysts have trimmed their price target for Hindustan Unilever to about ₹2,607 from roughly ₹2,658, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E multiples that slightly adjust their view of fair value. What's in the News Board meeting scheduled for April 30, 2026, to review audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and to consider a final dividend for the year (company filing).
GROWW
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Billionbrains Garage Ventures
7D
9.9%
1Y
n/a
POWERINDIA
₹32,200.00
Hitachi Energy India
7D
11.3%
1Y
138.5%

POWERINDIA: Future Returns Will Be Constrained By Margin Pressure Despite Revenue Optimism

Analysts now set their price target for Hitachi Energy India at approximately ₹18,409, a very small change from about ₹18,400. This reflects updated views on revenue growth, profit margins and future P/E assumptions.
LICI
₹811.05
Life Insurance Corporation of India
7D
-3.7%
1Y
2.5%

LICI: Government Stake Sale Plans And Bonus Share Proposal Will Shape Fair Pricing

Analysts are keeping the price target for Life Insurance Corporation of India steady at ₹850.00. This reflects changed assumptions that now pair projected revenue growth of about 10.60% with a profit margin of about 4.67% and a lower future P/E estimate of about 18.19x.