3 Largecap High Priced Stocks to Watch for Future Multibagger Potential: Bajaj Auto, Divi’s Labs and Polycab
- October 19, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Bajaj Auto Rs 10,405. Divi’s Labs Rs 9,144.50. Polycab Rs 8,219. Market caps from Rs 1.25 lakh crore to Rs 2.81 lakh crore. Data as of 16 Oct 2026.
Quick Answer
Bajaj Auto, Divi’s Labs and Polycab are the 3 picks in this high priced stocks watchlist, with market caps between Rs 1.25 lakh crore and Rs 2.81 lakh crore. Bajaj Auto stands out for the highest return on equity at 27.67%, while Divi’s Labs offers the strongest latest-quarter profit growth at 65.50%. PE ratios run from 24.36 to 82.05, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.
High priced stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Bajaj Auto, Divi’s Labs and Polycab meet that test, with market caps from Rs 1.25 lakh crore to Rs 2.81 lakh crore and Bajaj Auto offering the highest return on equity at 27.67%. High share prices often reflect years of compounding by strong businesses with healthy margins and high returns.
This list covers companies trading above Rs 8,000 a share at the latest close, with complete, verifiable financials, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening high priced stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 16 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are High Priced Stocks and Why Do They Attract Multibagger Interest?
High priced stocks are shares that trade at several thousand rupees each. A high share price does not mean a stock is expensive, because what matters is how the price compares with earnings and growth.
Many of India’s best long-term performers carry high per-share prices because they have grown profit for years without splitting their shares. Companies with strong brands and high returns are the ones investors compare in high priced stocks.
High Priced Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 16 October 2026. Bajaj Auto combines the lowest PE of the group, 24.36, with the highest return on equity, 27.67%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Bajaj Auto | 10,405 | 2,81,374 | 24.36 | 23.82 | 27.67% | 0.58 | 8,605.00 to 12,470.00 |
| Divi’s Laboratories | 9,144.50 | 2,39,982 | 82.05 | 36.42 | 15.32% | 0.00 | 5,647.50 to 9,740.00 |
| Polycab India | 8,219 | 1,25,388 | 43.16 | 49.96 | 22.25% | 0.02 | 6,663.00 to 10,126.00 |
Bajaj Auto: Revenue Up 24.05% in FY26
Bajaj Auto makes motorcycles, three-wheelers and electric two-wheelers, and has a large export business. It reported FY26 revenue of Rs 65,087.22 crore, up 24.05% year on year, and net profit of Rs 10,574.50 crore, up 44.37%. Net profit has compounded at 14.44% a year since FY22, while revenue has grown 17.26% a year. Operating margin was 25.06% in FY26.
In the June 2026 quarter, revenue rose 64.02% to Rs 22,376.69 crore and net profit grew 44.26% to Rs 3,188.75 crore. The share price has gained 165.89% over five years and 13.76% over the past year. Domestic institutions raised their holding from 12.09% in June 2025 to 13.54% in June 2026. The stock trades at a PE of 24.36 against an industry PE of 23.82, with a return on equity of 27.67%.
Divi’s Labs: Debt-to-Equity of 0.00
Divi’s Laboratories makes active pharmaceutical ingredients and intermediates and runs a large custom synthesis business for global drug companies. It reported FY26 revenue of Rs 11,067 crore, up 13.95% year on year, and net profit of Rs 2,568 crore, up 17.21%. Revenue has compounded at 5.09% a year since FY22. Operating margin was 36.70% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.
The stock trades at a PE of 82.05 against an industry PE of 36.42, with a return on equity of 15.32%. In the June 2026 quarter, revenue rose 24.32% to Rs 3,144 crore and net profit grew 65.50% to Rs 902 crore. The share price has gained 71.04% over five years and 38.43% over the past year. Foreign investors raised their holding from 19.39% in September 2025 to 20.38% in September 2026.
Polycab: 33.79% Profit CAGR Since FY22
Polycab India is a leading maker of wires and cables in India, with a growing fast-moving electrical goods business. It reported FY26 revenue of Rs 29,120.04 crore, up 28.76% year on year, and net profit of Rs 2,708.43 crore, up 32.41%. Net profit has compounded at 33.79% a year since FY22, while revenue has grown 24.06% a year. Operating margin was 14.69% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.
In the June 2026 quarter, revenue rose 38.90% to Rs 8,314.65 crore and net profit grew 32.84% to Rs 796.65 crore. The share price has gained 230.55% over five years. Foreign investors raised their holding from 11.44% in June 2025 to 19.00% in June 2026. The stock trades at a PE of 43.16 against an industry PE of 49.96, below the sector average, with a return on equity of 22.25%.
High Priced Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these high priced stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.
| Stock | Revenue (Rs Cr) | Net Profit (Rs Cr) | Revenue Growth (YoY) | 4-Year Revenue CAGR | Latest Quarter Revenue Growth | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| Bajaj Auto | 65,087.22 | 10,574.50 | 24.05% | 17.26% | 64.02% | 24.99% |
| Divi’s Labs | 11,067 | 2,568 | 13.95% | 5.09% | 24.32% | 42.82% |
| Polycab | 29,120.04 | 2,708.43 | 28.76% | 24.06% | 38.90% | 15.12% |
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Institutional Holding in Bajaj Auto, Divi’s Labs and Polycab
Institutional holding shows who is backing these high priced stocks alongside the promoter. The table uses the latest reported quarter for each. Divi’s Labs has the deepest institutional backing, with FII and DII together holding 39.55% as of September 2026. Domestic institutions increased their holding over the past year in Bajaj Auto (from 12.09% to 13.54%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Bajaj Auto | 55.01% | 9.01% | 13.54% | 22.44% | June 2026 |
| Divi’s Labs | 51.88% | 20.38% | 19.17% | 8.58% | September 2026 |
| Polycab | 61.46% | 19.00% | 7.62% | 11.92% | June 2026 |
Risks to Weigh in High Priced Stocks
Being careful with high priced stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:
- A high share price does not tell you if a stock is fairly valued.
- Check valuation against growth.
- Valuation: Divi’s Labs trades at a PE of 82.05 against an industry PE of 36.42, so earnings need to keep growing to support the price.
- Concentration: Holding all 3 names puts the allocation in one sector, so size each position to match your risk appetite.
How to Choose Between High Priced Stocks
Picking from high priced stocks comes down to four checks, applied in order.
- Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
- Compare each PE with the industry PE (23.82 to 49.96) and ask whether the growth rate justifies any gap.
- Track earnings per share, the PE ratio and the return on equity in every result.
- Stagger entries across quarters and review institutional holding every reporting season.
Download the Univest iOS App or Univest Android App to track Bajaj Auto, Divi’s Labs and Polycab live prices.
Conclusion
Among high priced stocks, Bajaj Auto stands out for the highest return on equity at 27.67%, Divi’s Labs for the strongest latest-quarter profit growth at 65.50% and Polycab for the fastest profit growth, 33.79% a year since FY22. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing high priced stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on High Priced Stocks to Watch
Which are the best high priced stocks to watch for multibagger potential?
Ans. Bajaj Auto, Divi’s Labs and Polycab are the 3 names this list highlights, with market caps of Rs 2,81,374 crore, Rs 2,39,982 crore and Rs 1,25,388 crore respectively. Bajaj Auto is notable for the highest return on equity at 27.67%. Divi’s Labs stands out for the strongest latest-quarter profit growth at 65.50%. Polycab offers the fastest profit growth, 33.79% a year since FY22. These are watchlist names for high priced stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Bajaj Auto a good stock for long-term investors?
Ans. Bajaj Auto has a return on equity of 27.67%, a PE of 24.36 against an industry PE of 23.82 and a market cap of Rs 2,81,374 crore. Net profit has compounded at 14.44% a year since FY22, and FY26 revenue rose 24.05% while June 2026 quarter net profit grew 44.26%. Long-term returns in high priced stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Polycab become a multibagger from here?
Ans. Polycab has already gained 230.55% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in high priced stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 33.79% a year since FY22, and FY26 revenue rose 28.76%. At a PE of 43.16 against an industry PE of 49.96, valuation should be checked against that growth before investing.
What is the market cap of Bajaj Auto, Divi’s Labs and Polycab?
Ans. As of 16 October 2026, Bajaj Auto has a market cap of Rs 2,81,374 crore, Divi’s Labs has a market cap of Rs 2,39,982 crore and Polycab has a market cap of Rs 1,25,388 crore. All of them qualify as largecaps. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on high priced stocks.
What are the risks of investing in high priced stocks?
Ans. The main risks are treating price as value, premium valuations and cyclical demand. Companies with strong brands and steady profit growth handle these better. Divi’s Labs trades at a PE of 82.05 against an industry PE of 36.42, so earnings growth needs to hold up.
Why is Divi’s Labs trading at a PE of 82.05?
Ans. Divi’s Labs’ PE of 82.05 compares with an industry PE of 36.42. The market is paying a premium for a return on equity of 15.32% and latest-quarter profit growth of 65.50%, which also means the stock is more sensitive if growth slows. Investors in high priced stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Bajaj Auto, Divi’s Labs and Polycab?
Ans. As of the latest reported quarter, FII and DII together hold 22.55% of Bajaj Auto (9.01% and 13.54%), 39.55% of Divi’s Labs (20.38% and 19.17%) and 26.62% of Polycab (19.00% and 7.62%). Rising institutional holding is a useful signal in high priced stocks, though it should be read with earnings trends rather than on its own.
