4 Largecap Foreign Investor Favourite Stocks to Watch for Future Multibagger Potential: ICICI Bank, Nestle India, Asian Paints and Torrent Pharma
- October 26, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
ICICI Bank Rs 1,394.20. Nestle India Rs 1,175. Asian Paints Rs 2,307. Torrent Pharma Rs 4,524.40. Market caps from Rs 1.72 lakh crore to Rs 9.59 lakh crore. Data as of 23 Oct 2026.
Quick Answer
ICICI Bank, Nestle India, Asian Paints and Torrent Pharma are the 4 picks in this foreign investor favourite stocks watchlist, with market caps between Rs 1.72 lakh crore and Rs 9.59 lakh crore. ICICI Bank stands out for the lowest PE of the group at 16.04, while Nestle India offers the highest return on equity at 67.85%. PE ratios run from 16.04 to 79.66, so compare each one with its industry PE before investing. All figures are as of 23 October 2026.
Foreign investor favourite stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. ICICI Bank, Nestle India, Asian Paints and Torrent Pharma meet that test, with market caps from Rs 1.72 lakh crore to Rs 9.59 lakh crore and ICICI Bank offering the lowest PE of the group at 16.04. Each of these companies has foreign institutional holding of at least 10 per cent that rose by at least 1 percentage point over the past year, and net profit rose in FY26 and in the latest quarter.
This list covers companies with foreign institutional holding of at least 10 per cent that rose by at least 1 percentage point over the past year, rising profit in FY26 and the latest quarter, market capitalisation above Rs 1,00,000 crore, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening foreign investor favourite stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 23 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Foreign Investor Favourite Stocks and Why Do They Attract Multibagger Interest?
Foreign investor favourite stocks are shares of large companies where foreign institutional investors have raised their stake over the past year, a sign of growing global confidence. The four here cover private banking, packaged foods, paints and pharmaceuticals.
Rising foreign holding shows global funds are adding to these names. For foreign investor favourite stocks, both FY26 and the latest quarter showed growth. A sensible way to study foreign investor favourite stocks is to look at profit growth, returns and valuation side by side. Below, each of foreign investor favourite stocks gets its own breakdown of growth, returns and valuation. Treat foreign investor favourite stocks as a research list, since share prices and rankings change with every earnings season.
Foreign Investor Favourite Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 23 October 2026. ICICI Bank has the lowest PE of the group at 16.04, while Nestle India posts the highest return on equity at 67.85%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| ICICI Bank | 1,394.20 | 9,58,560 | 16.04 | 12.05 | 15.00% | 2.56 | 1,187.60 to 1,480.00 |
| Nestle India | 1,175 | 2,63,566 | 69.17 | 34.68 | 67.85% | 51.11 | 1,159.40 to 1,553.00 |
| Asian Paints | 2,307 | 2,28,231 | 47.18 | 42.98 | 20.24% | 10.68 | 2,115.00 to 2,985.70 |
| Torrent Pharmaceuticals | 4,524.40 | 1,71,745 | 79.66 | 36.42 | 25.49% | 20.42 | 3,480.60 to 5,250.00 |
ICICI Bank: 22.29% Profit CAGR Since FY22
ICICI Bank is one of the largest private sector banks in India, with a strong retail and digital franchise. It reported FY26 total income of Rs 3,12,118.36 crore, up 5.95% year on year, and net profit of Rs 57,673.39 crore, up 5.98%. Net profit has compounded at 22.29% a year since FY22, while total income has grown 18.64% a year.
In the June 2026 quarter, total income rose 6.86% to Rs 79,689.22 crore and net profit grew 12.62% to Rs 16,209.74 crore. The share price has gained 85.57% over five years. Foreign investors raised their holding from 45.56% in September 2025 to 50.44% in September 2026. The stock trades at a PE of 16.04 against an industry PE of 12.05, with a return on equity of 15.00%.
Nestle India: Return on Equity of 67.85%
Nestle India makes Maggi, KitKat, Nescafe and other packaged foods and beverages. It reported FY26 revenue of Rs 23,194.95 crore, up 14.48% year on year, and net profit of Rs 3,499.08 crore, up 9.09%. Operating margin was 22.49% in FY26. The debt-to-equity ratio is 0.09, which keeps interest costs low.
The stock trades at a PE of 69.17 against an industry PE of 34.68, with a return on equity of 67.85%. In the September 2026 quarter, revenue rose 20.52% to Rs 6,808.60 crore and net profit grew 35.85% to Rs 1,009.61 crore. Foreign investors raised their holding from 9.82% in September 2025 to 11.69% in September 2026.
Asian Paints: Return on Equity of 20.24%
Asian Paints is India’s largest paint maker and sells decorative and industrial paints, waterproofing and home decor products. It reported FY26 revenue of Rs 36,307.34 crore, up 5.31% year on year, and net profit of Rs 4,394.69 crore, up 18.46%. Net profit has compounded at 9.25% a year since FY22, while revenue has grown 5.34% a year. Operating margin was 20.87% in FY26. The debt-to-equity ratio is 0.18.
In the June 2026 quarter, revenue rose 18.09% to Rs 10,782.79 crore and net profit grew 39.60% to Rs 1,559.45 crore. Foreign investors raised their holding from 11.85% in June 2025 to 13.32% in June 2026. The stock trades at a PE of 47.18 against an industry PE of 42.98, with a return on equity of 20.24%.
Torrent Pharma: 28.79% Profit CAGR Since FY22
Torrent Pharmaceuticals makes branded medicines for chronic therapies such as cardiac, gastro-intestinal and central nervous system care in India and overseas. It reported FY26 revenue of Rs 13,886.15 crore, up 20.34% year on year, and net profit of Rs 2,138.18 crore, up 11.87%. Net profit has compounded at 28.79% a year since FY22, while revenue has grown 12.38% a year. Operating margin was 22.70% in FY26.
The stock trades at a PE of 79.66 against an industry PE of 36.42, with a return on equity of 25.49%. In the June 2026 quarter, revenue rose 56.29% to Rs 4,909 crore and net profit grew 3.28% to Rs 566 crore. The share price has gained 194.63% over five years and 29.72% over the past year. Domestic institutions raised their holding from 9.28% in September 2025 to 12.87% in July 2026.
Foreign Investor Favourite Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these foreign investor favourite 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) | Latest Quarter Income Growth | Net Profit Growth (YoY) |
|---|---|---|---|---|---|
| ICICI Bank | 3,12,118.36 | 57,673.39 | 5.95% | 6.86% | 5.98% |
| Nestle India | 23,194.95 | 3,499.08 | 14.48% | 20.52% | 9.09% |
| Asian Paints | 36,307.34 | 4,394.69 | 5.31% | 18.09% | 18.46% |
| Torrent Pharma | 13,886.15 | 2,138.18 | 20.34% | 56.29% | 11.87% |
Check the Univest Screener for live data on these foreign investor favourite stocks
Institutional Holding in ICICI Bank, Nestle India, Asian Paints and Torrent Pharma
Institutional holding shows who is backing these foreign investor favourite stocks alongside the promoter. The table uses the latest reported quarter for each. ICICI Bank has the deepest institutional backing, with FII and DII together holding 92.22% as of September 2026. Domestic institutions increased their holding over the past year in Torrent Pharma (from 9.28% to 12.87%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| ICICI Bank | Nil | 50.44% | 41.78% | 7.78% | September 2026 |
| Nestle India | 62.76% | 11.69% | 10.67% | 14.87% | September 2026 |
| Asian Paints | 52.63% | 13.32% | 20.77% | 13.28% | June 2026 |
| Torrent Pharma | 60.78% | 17.97% | 12.87% | 8.38% | July 2026 |
Risks to Weigh in Foreign Investor Favourite Stocks
Being careful with foreign investor favourite stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:
- Past growth may not repeat.
- Share prices can move sharply in either direction.
- Valuation: Torrent Pharma trades at a PE of 79.66 against an industry PE of 36.42, so earnings need to keep growing to support the price.
- Concentration: Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.
How to Choose Between Foreign Investor Favourite Stocks
Picking from foreign investor favourite 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 (12.05 to 42.98) and ask whether the growth rate justifies any gap.
- Track net profit growth, the operating margin and the return on equity in every quarterly result.
- Stagger entries across quarters and review institutional holding every reporting season.
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Conclusion
Among foreign investor favourite stocks, ICICI Bank stands out for the lowest PE of the group at 16.04, Nestle India for the highest return on equity at 67.85%, Asian Paints for the strongest latest-quarter profit growth at 39.60% and Torrent Pharma for the fastest profit growth, 28.79% 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 foreign investor favourite 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 Foreign Investor Favourite Stocks to Watch
Which are the best foreign investor favourite stocks to watch for multibagger potential?
Ans. ICICI Bank, Nestle India, Asian Paints and Torrent Pharma are the 4 names this list highlights, with market caps of Rs 9,58,560 crore, Rs 2,63,566 crore, Rs 2,28,231 crore and Rs 1,71,745 crore respectively. ICICI Bank is notable for the lowest PE of the group at 16.04. Nestle India stands out for the highest return on equity at 67.85%. Asian Paints offers the strongest latest-quarter profit growth at 39.60%. Torrent Pharma brings the fastest profit growth, 28.79% a year since FY22. These are watchlist names for foreign investor favourite stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Nestle India a good stock for long-term investors?
Ans. Nestle India has a return on equity of 67.85%, a PE of 69.17 against an industry PE of 34.68 and a market cap of Rs 2,63,566 crore. FY26 revenue rose 14.48%, and September 2026 quarter net profit grew 35.85%. Long-term returns in foreign investor favourite stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Torrent Pharma become a multibagger from here?
Ans. Torrent Pharma has already gained 194.63% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in foreign investor favourite stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 28.79% a year since FY22, and FY26 revenue rose 20.34%. At a PE of 79.66 against an industry PE of 36.42, valuation should be checked against that growth before investing.
What is the market cap of ICICI Bank, Nestle India, Asian Paints and Torrent Pharma?
Ans. As of 23 October 2026, ICICI Bank has a market cap of Rs 9,58,560 crore, Nestle India has a market cap of Rs 2,63,566 crore, Asian Paints has a market cap of Rs 2,28,231 crore and Torrent Pharma has a market cap of Rs 1,71,745 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 foreign investor favourite stocks.
What are the risks of investing in foreign investor favourite stocks?
Ans. The main risks are market swings, slower growth than expected and valuations that already reflect good news. Companies with strong balance sheets and steady earnings handle these better. Torrent Pharma trades at a PE of 79.66 against an industry PE of 36.42, so earnings growth needs to hold up.
Why is Torrent Pharma trading at a PE of 79.66?
Ans. Torrent Pharma’s PE of 79.66 compares with an industry PE of 36.42. The market is paying a premium for a return on equity of 25.49%, profit growth of 28.79% a year since FY22 and FY26 revenue growth of 20.34%, which also means the stock is more sensitive if growth slows. Investors in foreign investor favourite 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 ICICI Bank, Nestle India, Asian Paints and Torrent Pharma?
Ans. As of the latest reported quarter, FII and DII together hold 92.22% of ICICI Bank (50.44% and 41.78%), 22.36% of Nestle India (11.69% and 10.67%), 34.09% of Asian Paints (13.32% and 20.77%) and 30.84% of Torrent Pharma (17.97% and 12.87%). Rising institutional holding is a useful signal in foreign investor favourite stocks, though it should be read with earnings trends rather than on its own.
