Financial Services

Sector overview

Total Companies: 329
Total Market Cap (₹ Cr): 1,15,48,550
Top 3 Market Cap (₹ Cr): 30,01,597
Sector Concentration: 25.99%
Weighted P/E: 34.14
Weighted P/B: 3.21
Avg Dividend Yield: 0.77%
Avg Qtrly Profit Growth (YoY): 101.34%
Avg Qtrly Sales Growth (YoY): —
Avg Sector ROE: 8.79%
Avg Sector ROCE: 10.97%
Avg Debt to Equity: 1.43
Broad Industries: 7
Sub Industries: 14

AI Sector View

AI GENERATED

Buy

Outstanding credit of SCBs 17.5% YoY (2026-07)Outstanding deposits of SCBs 12.6% YoY (2026-07)No. of UPI transactions 22.0% YoY (2026-07)No. of IMPS transactions -24.0% YoY (2026-07)Credit card transactions 27.0% YoY (2026-06)M3 money supply 15.0% YoY (2026-07)loan growth 18.3% (Aug/26)deposit growth 14.7% (Aug/26)

Financials remain one of the clearest macro beneficiaries. Loan growth was 18.3% (Aug/26) versus deposit growth 14.7% (Aug/26), SCB credit growth was 17.5% YoY (2026-07), UPI transactions rose 22.0% YoY (2026-07), and M3 money supply grew 15.0% YoY (2026-07). Sector flows have also turned meaningfully supportive, with INR 13171 crore net FPI inflow over 3 months to 2026-08-31 after INR -114652 crore in the prior 3 months.

Confidence

84%

Financial Services vs Nifty

Financial Services

Nifty Benchmark

Sub Industries

14 sub-industries

S.No.
1.	Bank - Private	29	29	36,15,897	24,97,812	69.08%	69.08%	18.32	1.93	18.98	1.27	14	1.06	235.62	0.78	—	8.52%	8.52%	9.70%	0.78	0%	—	0	0	—	7.50%	0.49%	158.40%	—
2.	Bank - Public	12	12	18,06,729	11,90,236	65.88%	65.88%	9.07	1.36	7.68	1.20	7.70	1.06	190.50	1.02	—	15.14%	15.14%	12.45%	1.02	0%	—	0	0	—	16.68%	2.47%	41.60%	—
3.	Depository Services	3	3	61,641	61,641	100%	100%	49.51	11.31	45.49	11.10	45.50	11.94	85	0.15	1	29.13%	29.13%	38.50%	0.15	43.19%	—	0.52	20.09	—	56.42%	1.34%	10.23%	—
4.	Finance - Asset Management	8	8	4,89,272	3,64,447	74.49%	74.49%	93.33	8.23	35.60	7.74	35.60	6.43	129.29	0.02	1	31.26%	31.26%	42.35%	0.02	-22.62%	—	0.50	14.91	—	137.85%	5.44%	219.66%	—
5.	Finance - Housing	17	17	3,12,743	1,58,089	50.55%	50.55%	162.88	1.18	13.88	1.56	10.95	1.52	390.40	3.18	1	10.70%	10.70%	24.64%	3.18	-27.11%	—	0.22	0.29	—	8.72%	0.96%	56.22%	—
6.	Finance - Investment	84	84	5,33,529	3,82,236	71.64%	71.64%	30.91	2.78	21.96	2.24	13.60	0.97	9,314	0.70	1	0.59%	0.59%	1.32%	0.70	-1,291%	—	0.92	4.58	—	3.59%	0.58%	-25.83%	—
7.	Finance - NBFC	101	101	23,11,067	10,43,356	45.15%	45.15%	30.18	2.95	26.35	1.55	18.20	1.24	975.85	1.76	1	9.42%	9.42%	8.94%	1.76	51.19%	—	0.26	1.19	—	6.81%	0.47%	123.78%	—
8.	Finance - Others	6	6	2,41,074	2,25,755	93.65%	93.65%	141.55	14.61	56.74	11.09	57.50	10	114.33	13.97	1	-2.70%	-2.70%	26.02%	13.97	-28.94%	—	5.06	10.66	—	10.89%	0.12%	655.37%	—
9.	Finance - Stock Broking	32	32	3,02,435	1,89,886	62.79%	62.79%	40.44	7.09	29.30	4.19	23.80	1.56	77.81	0.64	1	16.90%	16.90%	18.79%	0.64	24.69%	—	0.56	68.17	—	12.00%	0.56%	234.93%	—
10.	Finance Term Lending	11	11	3,36,381	3,04,916	90.65%	90.65%	17.35	1.29	10.69	1.61	5.45	1.19	78.30	3.09	1	9.15%	9.15%	9.86%	3.09	-4,616%	—	0.48	1.62	—	183.94%	1.29%	18.91%	—
11.	Fintech	11	11	3,66,611	3,24,586	88.54%	88.54%	111.65	7.18	75.85	4.67	40.90	3.98	67.18	0.13	1	2.73%	2.73%	7.68%	0.13	-3.46%	—	1.35	53.71	—	1.63%	0.06%	43.90%	—
12.	Insurance	11	11	11,17,145	7,95,895	71.24%	71.24%	27.57	4.51	41.09	4.92	41.75	5.10	148.73	0.07	1	13.62%	13.62%	14.57%	0.07	-20.75%	—	0.85	0	—	13.79%	0.83%	-25.05%	—
13.	Power Generation/Distribution	1	1	10,161	10,161	100%	100%	20	7.59	28.27	7.59	20	7.59	17	0.01	1	40%	40%	51.80%	0.01	83.72%	—	0.27	1.36	—	63.01%	3.07%	11.57%	—
14.	Ratings	3	3	43,865	43,865	100%	100%	35.97	9.11	27.98	6.40	28	4.66	680.33	0.04	1	21.33%	21.33%	29.40%	0.04	34.55%	—	0.59	38.36	—	51.46%	1.62%	27.58%	—

Stocks in this sector

S.No.	Name
1.	HDFC Bank Ltd.	Bank	Bank - Private	10,91,324	708	13.80	1.94	390	2.19%	12.80%	14.40%	1
2.	ICICI Bank Ltd.	Bank	Bank - Private	9,89,980	1,379	17.60	2.42	521	0.87%	16.50%	17.40%	2
3.	State Bank Of India	Bank	Bank - Public	9,20,293	996	10.70	1.61	636	1.74%	12.20%	16.70%	1
4.	Kotak Mahindra Bank Ltd.	Bank	Bank - Private	4,16,508	419	20.50	1.94	188	0.16%	12%	11.30%	1
5.	Axis Bank Ltd.	Bank	Bank - Private	3,88,400	1,246	14	1.69	712	0.08%	11%	13.30%	2
6.	Union Bank Of India	Bank	Bank - Public	1,35,878	178	6.60	1	172	2.81%	14.60%	16.20%	10
7.	Punjab National Bank	Bank	Bank - Public	1,34,065	117	6.10	0.83	127	2.57%	13.30%	12.90%	2
8.	Bank Of Baroda	Bank	Bank - Public	1,22,975	238	6.80	0.77	326	3.57%	11.20%	12.50%	2
9.	Indian Bank	Bank	Bank - Public	1,14,883	854	9	1.56	570	2.14%	16.30%	17.80%	10
10.	Canara Bank	Bank	Bank - Public	1,12,385	124	5.70	1.01	129	3.39%	14.50%	18%	2
11.	IDBI Bank Ltd.	Bank	Bank - Private	89,718	83	9.60	1.09	58	0%	14.80%	16.50%	10
12.	The Federal Bank Ltd.	Bank	Bank - Private	85,149	344	18.20	1.66	161	0.35%	11%	12.30%	2
13.	AU Small Finance Bank Ltd.	Bank	Bank - Private	79,455	1,059	27.80	3.20	273	0.09%	14.20%	14.40%	10
14.	IndusInd Bank Ltd.	Bank	Bank - Private	76,185	978	57.60	0.90	852	0.15%	5%	1.40%	10
15.	IDFC First Bank Ltd.	Bank	Bank - Private	74,319	86	32.20	1.07	56	0.29%	5.40%	3.80%	10
16.	Yes Bank Ltd.	Bank	Bank - Private	73,669	23	19.50	1.06	17	0%	8%	7.10%	2
17.	Bank Of Maharashtra	Bank	Bank - Public	64,740	84	8.60	1.50	44	2.61%	16.50%	24.10%	10
18.	RBL Bank Ltd.	Bank	Bank - Private	64,023	413	71.20	1.08	276	0.24%	6.50%	5.50%	10
19.	Indian Overseas Bank	Bank	Bank - Public	63,797	33	10.70	1.80	18	0%	11.30%	17.40%	10
20.	Bank Of India	Bank	Bank - Public	63,646	140	5.40	0.76	182	3.33%	11%	13.10%	10
21.	Karur Vysya Bank Ltd.	Bank	Bank - Private	32,274	334	11.80	1.98	154	0.78%	23.60%	19.30%	2
22.	UCO Bank	Bank	Bank - Public	30,070	24	12.20	1.61	22	1.83%	11.10%	9.40%	10
23.	Bandhan Bank Ltd.	Bank	Bank - Private	28,469	177	21	0.90	160	0.85%	6.40%	4.90%	10
24.	Central Bank Of India	Bank	Bank - Public	27,833	31	6.10	0.81	41	3.90%	8.30%	13.20%	10
25.	City Union Bank Ltd.	Bank	Bank - Private	22,491	227	16	1.69	111	0.66%	13.50%	13.20%	1
26.	Punjab & Sind Bank	Bank	Bank - Public	16,164	23	11.70	1.12	19	1.71%	9.10%	10.40%	10
27.	The Jammu & Kashmir Bank Ltd.	Bank	Bank - Private	15,995	145	6.90	0.81	141	0%	17.70%	16.90%	1
28.	Tamilnad Mercantile Bank Ltd.	Bank	Bank - Private	14,441	911	10	0.91	667	1.37%	18.30%	14%	10
29.	Ujjivan Small Finance Bank Ltd.	Bank	Bank - Private	12,772	66	14.10	1.46	36	0%	11.50%	10.90%	10
30.	The Karnataka Bank Ltd.	Bank	Bank - Private	12,343	325	8.60	0.67	345	1.53%	11%	10.80%	10
31.	The South Indian Bank Ltd.	Bank	Bank - Private	12,101	46	8	0.79	45	0.97%	14.80%	13.50%	1
32.	Equitas Small Finance Bank Ltd.	Bank	Bank - Private	8,388	73	16.40	0.97	55	0%	4.40%	1.70%	10
33.	DCB Bank Ltd.	Bank	Bank - Private	7,293	226	9.30	0.83	197	0.64%	10.80%	12.70%	10
34.	Jana Small Finance Bank Ltd.	Bank	Bank - Private	5,468	517	14.40	0.85	434	0%	7.20%	7.70%	10
35.	CSB Bank Ltd.	Bank	Bank - Private	5,300	306	8	1.26	279	0%	11.30%	14.10%	10
36.	Utkarsh Small Finance Bank Ltd.	Bank	Bank - Private	2,584	15	0	0.67	15	0%	-24%	-40.70%	10
37.	ESAF Small Finance Bank Ltd.	Bank	Bank - Private	2,050	40	0	0.58	36	0%	-1.60%	-8.90%	10
38.	Suryoday Small Finance Bank Ltd.	Bank	Bank - Private	1,565	148	8.20	0.61	202	1.02%	7.70%	7.60%	10
39.	Capital Small Finance Bank Ltd.	Bank	Bank - Private	1,239	271	8.20	0.69	327	1.83%	12.80%	10.20%	10
40.	Dhanlaxmi Bank Ltd.	Bank	Bank - Private	1,230	31	10.70	0.60	34	0%	7.20%	8.10%	10
41.	Fino Payments Bank Ltd.	Bank	Bank - Private	1,164	140	55.50	2.64	91	0%	11.50%	13.70%	10

Headlines

Latest news for this sector

Sub Industries

14 sub-industries

S.No.
1.	Bank - Private	29	29	36,15,897	24,97,812	69.08%	69.08%	18.32	1.93	18.98	1.27	14	1.06	235.62	0.78	—	8.52%	8.52%	9.70%	0.78	0%	—	0	0	—	7.50%	0.49%	158.40%	—
2.	Bank - Public	12	12	18,06,729	11,90,236	65.88%	65.88%	9.07	1.36	7.68	1.20	7.70	1.06	190.50	1.02	—	15.14%	15.14%	12.45%	1.02	0%	—	0	0	—	16.68%	2.47%	41.60%	—
3.	Depository Services	3	3	61,641	61,641	100%	100%	49.51	11.31	45.49	11.10	45.50	11.94	85	0.15	1	29.13%	29.13%	38.50%	0.15	43.19%	—	0.52	20.09	—	56.42%	1.34%	10.23%	—
4.	Finance - Asset Management	8	8	4,89,272	3,64,447	74.49%	74.49%	93.33	8.23	35.60	7.74	35.60	6.43	129.29	0.02	1	31.26%	31.26%	42.35%	0.02	-22.62%	—	0.50	14.91	—	137.85%	5.44%	219.66%	—
5.	Finance - Housing	17	17	3,12,743	1,58,089	50.55%	50.55%	162.88	1.18	13.88	1.56	10.95	1.52	390.40	3.18	1	10.70%	10.70%	24.64%	3.18	-27.11%	—	0.22	0.29	—	8.72%	0.96%	56.22%	—
6.	Finance - Investment	84	84	5,33,529	3,82,236	71.64%	71.64%	30.91	2.78	21.96	2.24	13.60	0.97	9,314	0.70	1	0.59%	0.59%	1.32%	0.70	-1,291%	—	0.92	4.58	—	3.59%	0.58%	-25.83%	—
7.	Finance - NBFC	101	101	23,11,067	10,43,356	45.15%	45.15%	30.18	2.95	26.35	1.55	18.20	1.24	975.85	1.76	1	9.42%	9.42%	8.94%	1.76	51.19%	—	0.26	1.19	—	6.81%	0.47%	123.78%	—
8.	Finance - Others	6	6	2,41,074	2,25,755	93.65%	93.65%	141.55	14.61	56.74	11.09	57.50	10	114.33	13.97	1	-2.70%	-2.70%	26.02%	13.97	-28.94%	—	5.06	10.66	—	10.89%	0.12%	655.37%	—
9.	Finance - Stock Broking	32	32	3,02,435	1,89,886	62.79%	62.79%	40.44	7.09	29.30	4.19	23.80	1.56	77.81	0.64	1	16.90%	16.90%	18.79%	0.64	24.69%	—	0.56	68.17	—	12.00%	0.56%	234.93%	—
10.	Finance Term Lending	11	11	3,36,381	3,04,916	90.65%	90.65%	17.35	1.29	10.69	1.61	5.45	1.19	78.30	3.09	1	9.15%	9.15%	9.86%	3.09	-4,616%	—	0.48	1.62	—	183.94%	1.29%	18.91%	—
11.	Fintech	11	11	3,66,611	3,24,586	88.54%	88.54%	111.65	7.18	75.85	4.67	40.90	3.98	67.18	0.13	1	2.73%	2.73%	7.68%	0.13	-3.46%	—	1.35	53.71	—	1.63%	0.06%	43.90%	—
12.	Insurance	11	11	11,17,145	7,95,895	71.24%	71.24%	27.57	4.51	41.09	4.92	41.75	5.10	148.73	0.07	1	13.62%	13.62%	14.57%	0.07	-20.75%	—	0.85	0	—	13.79%	0.83%	-25.05%	—
13.	Power Generation/Distribution	1	1	10,161	10,161	100%	100%	20	7.59	28.27	7.59	20	7.59	17	0.01	1	40%	40%	51.80%	0.01	83.72%	—	0.27	1.36	—	63.01%	3.07%	11.57%	—
14.	Ratings	3	3	43,865	43,865	100%	100%	35.97	9.11	27.98	6.40	28	4.66	680.33	0.04	1	21.33%	21.33%	29.40%	0.04	34.55%	—	0.59	38.36	—	51.46%	1.62%	27.58%	—

Name

HDFC Bank Ltd.

Bank

Bank - Private

10,91,324

708

13.80

1.94

390

2.19%

12.80%

14.40%

ICICI Bank Ltd.

Bank

Bank - Private

9,89,980

1,379

17.60

2.42

521

0.87%

16.50%

17.40%

State Bank Of India

Bank

Bank - Public

9,20,293

996

10.70

1.61

636

1.74%

12.20%

16.70%

Kotak Mahindra Bank Ltd.

Bank

Bank - Private

4,16,508

419

20.50

1.94

188

0.16%

12%

11.30%

Axis Bank Ltd.

Bank

Bank - Private

3,88,400

1,246

1.69

712

0.08%

11%

13.30%

Union Bank Of India

Bank

Bank - Public

1,35,878

178

6.60

172

2.81%

14.60%

16.20%

Punjab National Bank

Bank

Bank - Public

1,34,065

117

6.10

0.83

127

2.57%

13.30%

12.90%

Bank Of Baroda

Bank

Bank - Public

1,22,975

238

6.80

0.77

326

3.57%

11.20%

12.50%

Indian Bank

Bank

Bank - Public

1,14,883

854

1.56

570

2.14%

16.30%

17.80%

Canara Bank

Bank

Bank - Public

1,12,385

124

5.70

1.01

129

3.39%

14.50%

18%

IDBI Bank Ltd.

Bank

Bank - Private

89,718

9.60

1.09

14.80%

16.50%

The Federal Bank Ltd.

Bank

Bank - Private

85,149

344

18.20

1.66

161

0.35%

11%

12.30%

AU Small Finance Bank Ltd.

Bank

Bank - Private

79,455

1,059

27.80

3.20

273

0.09%

14.20%

14.40%

IndusInd Bank Ltd.

Bank

Bank - Private

76,185

978

57.60

0.90

852

0.15%

1.40%

IDFC First Bank Ltd.

Bank

Bank - Private

74,319

32.20

1.07

0.29%

5.40%

3.80%

Yes Bank Ltd.

Bank

Bank - Private

73,669

19.50

1.06

7.10%

Bank Of Maharashtra

Bank

Bank - Public

64,740

8.60

1.50

2.61%

16.50%

24.10%

RBL Bank Ltd.

Bank

Bank - Private

64,023

413

71.20

1.08

276

0.24%

6.50%

5.50%

Indian Overseas Bank

Bank

Bank - Public

63,797

10.70

1.80

11.30%

17.40%

Bank Of India

Bank

Bank - Public

63,646

140

5.40

0.76

182

3.33%

11%

13.10%

Karur Vysya Bank Ltd.

Bank

Bank - Private

32,274

334

11.80

1.98

154

0.78%

23.60%

19.30%

UCO Bank

Bank

Bank - Public

30,070

12.20

1.61

1.83%

11.10%

9.40%

Bandhan Bank Ltd.

Bank

Bank - Private

28,469

177

0.90

160

0.85%

6.40%

4.90%

Central Bank Of India

Bank

Bank - Public

27,833

6.10

0.81

3.90%

8.30%

13.20%

City Union Bank Ltd.

Bank

Bank - Private

22,491

227

1.69

111

0.66%

13.50%

13.20%

Punjab & Sind Bank

Bank

Bank - Public

16,164

11.70

1.12

1.71%

9.10%

10.40%

The Jammu & Kashmir Bank Ltd.

Bank

Bank - Private

15,995

145

6.90

0.81

141

17.70%

16.90%

Tamilnad Mercantile Bank Ltd.

Bank

Bank - Private

14,441

911

0.91

667

1.37%

18.30%

14%

Ujjivan Small Finance Bank Ltd.

Bank

Bank - Private

12,772

14.10

1.46

11.50%

10.90%

The Karnataka Bank Ltd.

Bank

Bank - Private

12,343

325

8.60

0.67

345

1.53%

11%

10.80%

The South Indian Bank Ltd.

Bank

Bank - Private

12,101

0.79

0.97%

14.80%

13.50%

Equitas Small Finance Bank Ltd.

Bank

Bank - Private

8,388

16.40

0.97

4.40%

1.70%

DCB Bank Ltd.

Bank

Bank - Private

7,293

226

9.30

0.83

197

0.64%

10.80%

12.70%

Jana Small Finance Bank Ltd.

Bank

Bank - Private

5,468

517

14.40

0.85

434

7.20%

7.70%

CSB Bank Ltd.

Bank

Bank - Private

5,300

306

1.26

279

11.30%

14.10%

Utkarsh Small Finance Bank Ltd.

Bank

Bank - Private

2,584

0.67

-24%

-40.70%

ESAF Small Finance Bank Ltd.

Bank

Bank - Private

2,050

0.58

-1.60%

-8.90%

Suryoday Small Finance Bank Ltd.

Bank

Bank - Private

1,565

148

8.20

0.61

202

1.02%

7.70%

7.60%

Capital Small Finance Bank Ltd.

Bank

Bank - Private

1,239

271

8.20

0.69

327

1.83%

12.80%

10.20%

Dhanlaxmi Bank Ltd.

Bank

Bank - Private

1,230

10.70

0.60

7.20%

8.10%

Fino Payments Bank Ltd.

Bank

Bank - Private

1,164

140

55.50

2.64

11.50%

13.70%