3 Largecap Double Bagger Stocks to Watch for Future Multibagger Potential: Cholamandalam, PFC and Canara Bank
- October 19, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Cholamandalam Rs 1,574.40. PFC Rs 333.25. Canara Bank Rs 118.29. Market caps from Rs 1.06 lakh crore to Rs 1.35 lakh crore. Data as of 16 Oct 2026.
Quick Answer
Cholamandalam, PFC and Canara Bank are the 3 picks in this double bagger stocks watchlist, with market caps between Rs 1.06 lakh crore and Rs 1.35 lakh crore. Cholamandalam stands out for the strongest latest-quarter profit growth at 45.56%, while PFC offers the highest return on equity at 18.22%. PE ratios run from 3.36 to 23.54, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.
Double bagger stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Cholamandalam, PFC and Canara Bank meet that test, with market caps from Rs 1.06 lakh crore to Rs 1.35 lakh crore and Cholamandalam offering the strongest latest-quarter profit growth at 45.56%. Each of these large companies has gained between 100 and 200 per cent in five years, which means the price has at least doubled.
This list covers large companies whose share price has risen by 100 to 200 per cent over five years, with complete, verifiable financials, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening double bagger 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.
Click Here – Get Free Investment Predictions
What Are Double Bagger Stocks and Why Do They Attract Multibagger Interest?
Double bagger stocks are shares that have more than doubled investors’ money over five years but have not yet tripled it. These gains usually come from years of rising profit, so the numbers show which businesses kept growing.
Doubling in five years works out to roughly 15 per cent a year, a pace that beats most fixed-income choices. Companies that keep growing profit at a healthy rate are the ones investors compare in double bagger stocks.
Double Bagger Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 16 October 2026. PFC combines the lowest PE of the group, 3.36, with the highest return on equity, 18.22%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Cholamandalam Investment and Finance | 1,574.40 | 1,35,393 | 23.54 | 17.68 | 17.18% | 4.42 | 1,299.40 to 1,952.50 |
| Power Finance Corporation | 333.25 | 1,12,946 | 3.36 | 17.68 | 18.22% | 0.79 | 313.35 to 486.50 |
| Canara Bank | 118.29 | 1,06,353 | 5.23 | 12.02 | 16.77% | 0.87 | 116.51 to 162.89 |
Cholamandalam: 24.75% Profit CAGR Since FY22
Cholamandalam Investment and Finance, part of the Murugappa Group, offers vehicle finance, home loans and loans against property. It reported FY26 total income of Rs 31,538.73 crore, up 20.60% year on year, and net profit of Rs 5,228.88 crore, up 22.74%. Net profit has compounded at 24.75% a year since FY22, while total income has grown 32.50% a year.
In the June 2026 quarter, total income rose 21.81% to Rs 8,956.68 crore and net profit grew 45.56% to Rs 1,656.22 crore. The share price has gained 165.09% over five years. Domestic institutions raised their holding from 16.06% in June 2025 to 20.62% in June 2026. The stock trades at a PE of 23.54 against an industry PE of 17.68, with a return on equity of 17.18%.
PFC: Five-Year Gain of 179.34%
Power Finance Corporation is a government-owned lender that finances power generation, transmission, distribution and renewable energy projects. It reported FY26 total income of Rs 1,15,533.18 crore, up 8.38% year on year, and net profit of Rs 33,625.34 crore, up 10.19%. Net profit has compounded at 15.69% a year since FY22, while total income has grown 10.91% a year.
The stock trades at a PE of 3.36 against an industry PE of 17.68, below the sector average, with a return on equity of 18.22%. The dividend yield is 5.42%. Net profit for the June 2026 quarter grew 0.18% to Rs 8,997.92 crore. The share price has gained 179.34% over five years. Foreign investors raised their holding from 18.66% in June 2025 to 20.54% in June 2026.
Canara Bank: 34.48% Profit CAGR Since FY22
Canara Bank is a large government-owned bank with a wide branch network and a growing retail and digital business. It reported FY26 total income of Rs 1,53,083.22 crore, up 0.28% year on year, and net profit of Rs 18,951.23 crore, up 9.32%. Net profit has compounded at 34.48% a year since FY22, while total income has grown 12.89% a year.
Net profit for the September 2026 quarter grew 6.50% to Rs 5,182.03 crore. The share price has gained 198.67% over five years. Foreign investors raised their holding from 11.90% in September 2025 to 12.27% in September 2026. The stock trades at a PE of 5.23 against an industry PE of 12.02, below the sector average, with a return on equity of 16.77%. The dividend yield is 3.58%.
Double Bagger Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these double bagger stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.
| Stock | Total Income (Rs Cr) | Net Profit (Rs Cr) | Income Growth (YoY) | 4-Year Income CAGR | 4-Year Net Profit CAGR |
|---|---|---|---|---|---|
| Cholamandalam | 31,538.73 | 5,228.88 | 20.60% | 32.50% | 24.75% |
| PFC | 1,15,533.18 | 33,625.34 | 8.38% | 10.91% | 15.69% |
| Canara Bank | 1,53,083.22 | 18,951.23 | 0.28% | 12.89% | 34.48% |
Check the Univest Screener for live data on these double bagger stocks
Institutional Holding in Cholamandalam, PFC and Canara Bank
Institutional holding shows who is backing these double bagger stocks alongside the promoter. The table uses the latest reported quarter for each. Cholamandalam has the deepest institutional backing, with FII and DII together holding 45.07% as of June 2026. Domestic institutions increased their holding over the past year in Cholamandalam (from 16.06% to 20.62%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Cholamandalam | 49.22% | 24.45% | 20.62% | 5.70% | June 2026 |
| PFC | 55.99% | 20.54% | 14.51% | 8.96% | June 2026 |
| Canara Bank | 62.93% | 12.27% | 12.38% | 12.42% | September 2026 |
Risks to Weigh in Double Bagger Stocks
Being careful with double bagger stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:
- Past returns do not guarantee future gains.
- Valuations rise after strong rallies.
- Valuation: Cholamandalam trades at a PE of 23.54 against an industry PE of 17.68, 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 Double Bagger Stocks
Picking from double bagger stocks comes down to four checks, applied in order.
- Check asset quality and net interest margin first, then return on equity and price to book. Debt-to-equity does not apply to lenders.
- Compare each PE with the industry PE (12.02 to 17.68) and ask whether the growth rate justifies any gap.
- Track profit growth, the return on equity and the valuation in every quarterly result.
- Stagger entries across quarters and review institutional holding every reporting season.
Download the Univest iOS App or Univest Android App to track Cholamandalam, PFC and Canara Bank live prices.
Conclusion
Among double bagger stocks, Cholamandalam stands out for the strongest latest-quarter profit growth at 45.56%, PFC for the highest return on equity at 18.22% and Canara Bank for the fastest profit growth, 34.48% 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 double bagger 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 Double Bagger Stocks to Watch
Which are the best double bagger stocks to watch for multibagger potential?
Ans. Cholamandalam, PFC and Canara Bank are the 3 names this list highlights, with market caps of Rs 1,35,393 crore, Rs 1,12,946 crore and Rs 1,06,353 crore respectively. Cholamandalam is notable for the strongest latest-quarter profit growth at 45.56%. PFC stands out for the highest return on equity at 18.22%. Canara Bank offers the fastest profit growth, 34.48% a year since FY22. These are watchlist names for double bagger stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is PFC a good stock for long-term investors?
Ans. PFC has a return on equity of 18.22%, a PE of 3.36 against an industry PE of 17.68 and a market cap of Rs 1,12,946 crore. Net profit has compounded at 15.69% a year since FY22, and FY26 revenue rose 8.38% while June 2026 quarter net profit grew 0.18%. Long-term returns in double bagger stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Canara Bank become a multibagger from here?
Ans. Canara Bank has already gained 198.67% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in double bagger stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 34.48% a year since FY22, and FY26 revenue rose 0.28%. At a PE of 5.23 against an industry PE of 12.02, valuation should be checked against that growth before investing.
What is the market cap of Cholamandalam, PFC and Canara Bank?
Ans. As of 16 October 2026, Cholamandalam has a market cap of Rs 1,35,393 crore, PFC has a market cap of Rs 1,12,946 crore and Canara Bank has a market cap of Rs 1,06,353 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 double bagger stocks.
What are the risks of investing in double bagger stocks?
Ans. The main risks are that past gains may not repeat, valuations can rise after rallies and business cycles can change. Companies with steady earnings growth handle these better. Cholamandalam trades at a PE of 23.54 against an industry PE of 17.68, so earnings growth needs to hold up.
Why is Cholamandalam trading at a PE of 23.54?
Ans. Cholamandalam’s PE of 23.54 compares with an industry PE of 17.68. The market is paying a premium for a return on equity of 17.18%, profit growth of 24.75% a year since FY22 and latest-quarter profit growth of 45.56%, which also means the stock is more sensitive if growth slows. Investors in double bagger 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 Cholamandalam, PFC and Canara Bank?
Ans. As of the latest reported quarter, FII and DII together hold 45.07% of Cholamandalam (24.45% and 20.62%), 35.05% of PFC (20.54% and 14.51%) and 24.65% of Canara Bank (12.27% and 12.38%). Rising institutional holding is a useful signal in double bagger stocks, though it should be read with earnings trends rather than on its own.
