4 Largecap Consistent Growth Stocks to Watch for Future Multibagger Potential: HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts
- October 26, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
HDFC Bank Rs 692.80. L&T Rs 3,647. Bajaj Finserv Rs 1,655. Avenue Supermarts Rs 3,157.70. Market caps from Rs 2.10 lakh crore to Rs 11.21 lakh crore. Data as of 23 Oct 2026.
Quick Answer
HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts are the 4 picks in this consistent growth stocks watchlist, with market caps between Rs 2.10 lakh crore and Rs 11.21 lakh crore. HDFC Bank stands out for the largest market cap at Rs 11,20,606 crore, while L&T offers the biggest five-year price gain at 104.68%. PE ratios run from 13.08 to 67.54, so compare each one with its industry PE before investing. All figures are as of 23 October 2026.
Consistent growth stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts meet that test, with market caps from Rs 2.10 lakh crore to Rs 11.21 lakh crore and HDFC Bank offering the largest market cap at Rs 11,20,606 crore. Each of these companies has revenue and profit growth of at least 15 per cent a year over the four years from FY22 to FY26, and net profit rose in FY26 and in the latest quarter.
This list covers companies with revenue and profit growth of at least 15 per cent a year over the four years from FY22 to FY26, 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 consistent growth 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 Consistent Growth Stocks and Why Do They Attract Multibagger Interest?
Consistent growth stocks are shares of large companies that have grown both sales and profit at a strong pace year after year, not just in one good year. The four here cover private banking, engineering and construction, financial services and retail.
Growth that repeats year after year is the strongest sign of a durable business. For consistent growth stocks, both FY26 and the latest quarter showed growth. For consistent growth stocks, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of consistent growth stocks, using FY26 and latest quarter data. Prices move daily, so recheck the figures for consistent growth stocks before you decide.
Consistent Growth Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 23 October 2026. Bajaj Finserv has the lowest PE of the group at 13.08, while L&T posts the highest return on equity at 14.72%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| HDFC Bank | 692.80 | 11,20,606 | 13.59 | 11.94 | 13.14% | 1.87 | 681.90 to 1,020.50 |
| Larsen & Toubro | 3,647 | 5,01,471 | 25.55 | 22.89 | 14.72% | 4.59 | 3,288.10 to 4,440.00 |
| Bajaj Finserv | 1,655 | 2,70,007 | 13.08 | 17.68 | 12.58% | 3.47 | 1,597.00 to 2,195.00 |
| Avenue Supermarts | 3,157.70 | 2,10,406 | 67.54 | 64.73 | 11.94% | 8.07 | 3,157.70 to 4,644.00 |
HDFC Bank: 20.04% Profit CAGR Since FY22
HDFC Bank is India’s largest private sector bank by assets and serves retail, business and corporate customers through a wide branch and digital network. It reported FY26 total income of Rs 4,95,462.81 crore, up 5.21% year on year, and net profit of Rs 79,219.46 crore, up 7.87%. Net profit has compounded at 20.04% a year since FY22, while total income has grown 31.11% a year.
In the September 2026 quarter, total income rose 9.11% to Rs 1,29,358.69 crore and net profit grew 5.76% to Rs 21,537.09 crore. Domestic institutions raised their holding from 36.26% in September 2025 to 43.63% in September 2026. The stock trades at a PE of 13.59 against an industry PE of 11.94, with a return on equity of 13.14%. The dividend yield is 2.13%.
L&T: Five-Year Gain of 104.68%
Larsen & Toubro is the largest engineering and construction company in India, with additional businesses in IT services and infrastructure projects. It reported FY26 revenue of Rs 2,91,635.04 crore, up 12.23% year on year, and net profit of Rs 19,159.40 crore, up 8.32%. Net profit has compounded at 16.81% a year since FY22, while revenue has grown 16.41% a year. Operating margin was 14.13% in FY26.
The stock trades at a PE of 25.55 against an industry PE of 22.89, with a return on equity of 14.72%. In the June 2026 quarter, revenue rose 8.12% to Rs 70,318.47 crore and net profit grew 15.20% to Rs 4,982.85 crore. The share price has gained 104.68% over five years.
Bajaj Finserv: 24.02% Profit CAGR Since FY22
Bajaj Finserv is a financial services holding company with interests in lending through Bajaj Finance and in general and life insurance. It reported FY26 total income of Rs 1,50,530.38 crore, up 13.23% year on year, and net profit of Rs 19,669.47 crore, up 12.03%. Net profit has compounded at 24.02% a year since FY22, while total income has grown 21.78% a year.
In the June 2026 quarter, total income rose 19.08% to Rs 42,036.90 crore and net profit grew 18.15% to Rs 6,296.67 crore. Domestic institutions raised their holding from 10.09% in June 2025 to 12.10% in June 2026. The stock trades at a PE of 13.08 against an industry PE of 17.68, below the sector average, with a return on equity of 12.58%.
Avenue Supermarts: Profit Compounding at 18.77% a Year
Avenue Supermarts runs the DMart chain of stores that sell groceries and everyday products at low prices. It reported FY26 revenue of Rs 68,894.84 crore, up 15.82% year on year, and net profit of Rs 2,969.86 crore, up 9.69%. Net profit has compounded at 18.77% a year since FY22, while revenue has grown 22.01% a year. Operating margin was 7.07% in FY26. The debt-to-equity ratio is 0.16.
The stock trades at a PE of 67.54 against an industry PE of 64.73. In the September 2026 quarter, revenue rose 17.74% to Rs 19,657.54 crore and net profit grew 8.49% to Rs 742.98 crore. Foreign investors raised their holding from 8.25% in June 2025 to 9.23% in June 2026.
Consistent Growth Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these consistent growth 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 |
|---|---|---|---|---|---|
| HDFC Bank | 4,95,462.81 | 79,219.46 | 5.21% | 31.11% | 20.04% |
| L&T | 2,91,635.04 | 19,159.40 | 12.23% | 16.41% | 16.81% |
| Bajaj Finserv | 1,50,530.38 | 19,669.47 | 13.23% | 21.78% | 24.02% |
| Avenue Supermarts | 68,894.84 | 2,969.86 | 15.82% | 22.01% | 18.77% |
Check the Univest Screener for live data on these consistent growth stocks
Institutional Holding in HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts
Institutional holding shows who is backing these consistent growth stocks alongside the promoter. The table uses the latest reported quarter for each. HDFC Bank has the deepest institutional backing, with FII and DII together holding 83.03% as of September 2026. Domestic institutions increased their holding over the past year in HDFC Bank (from 36.26% to 43.63%) and Bajaj Finserv (from 10.09% to 12.10%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| HDFC Bank | Nil | 39.40% | 43.63% | 16.97% | September 2026 |
| L&T | Nil | 19.13% | 43.02% | 37.85% | June 2026 |
| Bajaj Finserv | 58.71% | 6.91% | 12.10% | 22.28% | June 2026 |
| Avenue Supermarts | 74.48% | 9.23% | 8.74% | 7.55% | June 2026 |
Risks to Weigh in Consistent Growth Stocks
Being careful with consistent growth 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: HDFC Bank trades at a PE of 13.59 against an industry PE of 11.94, 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 Consistent Growth Stocks
Picking from consistent growth 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 (11.94 to 64.73) 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 consistent growth stocks, HDFC Bank stands out for the largest market cap at Rs 11,20,606 crore, L&T for the biggest five-year price gain at 104.68%, Bajaj Finserv for the fastest profit growth, 24.02% a year since FY22 and Avenue Supermarts for 15.82% revenue growth in FY26. 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 consistent growth 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 Consistent Growth Stocks to Watch
Which are the best consistent growth stocks to watch for multibagger potential?
Ans. HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts are the 4 names this list highlights, with market caps of Rs 11,20,606 crore, Rs 5,01,471 crore, Rs 2,70,007 crore and Rs 2,10,406 crore respectively. HDFC Bank is notable for the largest market cap at Rs 11,20,606 crore. L&T stands out for the biggest five-year price gain at 104.68%. Bajaj Finserv offers the fastest profit growth, 24.02% a year since FY22. Avenue Supermarts brings 15.82% revenue growth in FY26. These are watchlist names for consistent growth stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is L&T a good stock for long-term investors?
Ans. L&T has a return on equity of 14.72%, a PE of 25.55 against an industry PE of 22.89 and a market cap of Rs 5,01,471 crore. Net profit has compounded at 16.81% a year since FY22, and FY26 revenue rose 12.23% while June 2026 quarter net profit grew 15.20%. Long-term returns in consistent growth stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Bajaj Finserv become a multibagger from here?
Ans. Bajaj Finserv has a market cap of Rs 2,70,007 crore. A multibagger outcome in consistent growth stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 24.02% a year since FY22, and FY26 revenue rose 13.23%. At a PE of 13.08 against an industry PE of 17.68, valuation should be checked against that growth before investing.
What is the market cap of HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts?
Ans. As of 23 October 2026, HDFC Bank has a market cap of Rs 11,20,606 crore, L&T has a market cap of Rs 5,01,471 crore, Bajaj Finserv has a market cap of Rs 2,70,007 crore and Avenue Supermarts has a market cap of Rs 2,10,406 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 consistent growth stocks.
What are the risks of investing in consistent growth 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. HDFC Bank trades at a PE of 13.59 against an industry PE of 11.94, so earnings growth needs to hold up.
Is Bajaj Finserv trading below its industry PE?
Ans. Bajaj Finserv trades at a PE of 13.08 against an industry PE of 17.68. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 24.02% a year since FY22 and FY26 revenue rose 13.23%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in HDFC Bank, L&T, Bajaj Finserv and Avenue Supermarts?
Ans. As of the latest reported quarter, FII and DII together hold 83.03% of HDFC Bank (39.40% and 43.63%), 62.15% of L&T (19.13% and 43.02%), 19.01% of Bajaj Finserv (6.91% and 12.10%) and 17.97% of Avenue Supermarts (9.23% and 8.74%). Rising institutional holding is a useful signal in consistent growth stocks, though it should be read with earnings trends rather than on its own.
