4 Midcap LIC Portfolio Stocks to Watch for Future Multibagger Potential: Lupin, Max Healthcare, Mphasis and Navin Fluorine
- October 29, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Lupin Rs 1,972.70. Max Healthcare Rs 851.50. Mphasis Rs 2,518. Navin Fluorine Rs 8,501. Market caps from Rs 44,095 crore to Rs 91,955 crore. Data as of 28 Oct 2026.
Quick Answer
Lupin, Max Healthcare, Mphasis and Navin Fluorine are the 4 picks in this LIC portfolio stocks watchlist, with market caps between Rs 44,095 crore and Rs 91,955 crore. Lupin stands out for the highest return on equity at 23.76%, while Max Healthcare offers the biggest five-year price gain at 149.91%. PE ratios run from 16.57 to 59.66, so compare each one with its industry PE before investing. All figures are as of 28 October 2026.
LIC portfolio stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Lupin, Max Healthcare, Mphasis and Navin Fluorine meet that test, with market caps from Rs 44,095 crore to Rs 91,955 crore and Lupin offering the highest return on equity at 23.76%. Each of these companies has a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and LIC listed among its top domestic institutional holders, a return on equity of at least 10 per cent and profit growth in FY26 and in the latest quarter, and net profit rose in FY26 and in the latest quarter.
This list covers companies with a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and LIC listed among its top domestic institutional holders, a return on equity of at least 10 per cent and profit growth in FY26 and in the latest quarter, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap between Rs 30,000 crore and Rs 1 lakh crore. Investors screening LIC portfolio stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 28 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are LIC Portfolio Stocks and Why Do They Attract Multibagger Interest?
LIC portfolio stocks are shares of mid sized companies in which Life Insurance Corporation of India, the largest domestic institutional investor, is named among the top holders in the latest shareholding pattern. The four here cover pharmaceuticals, hospitals, IT services and specialty chemicals.
When a patient investor like LIC ranks among the largest holders of a company, it shows deep confidence in the business from an institution that invests for decades. For LIC portfolio stocks, both FY26 and the latest quarter showed growth. For LIC portfolio stocks, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of LIC portfolio stocks, using FY26 and latest quarter data. Prices move daily, so recheck the figures for LIC portfolio stocks before you decide.
LIC Portfolio Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 28 October 2026. Lupin combines the lowest PE of the group, 16.57, with the highest return on equity, 23.76%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Lupin | 1,972.70 | 91,955 | 16.57 | 36.42 | 23.76% | 0.29 | 1,900.00 to 2,529.50 |
| Max Healthcare Institute | 851.50 | 86,925 | 59.66 | 60.75 | 13.42% | 0.32 | 815.00 to 1,221.90 |
| Mphasis | 2,518 | 47,225 | 24.72 | 18.49 | 17.34% | 0.24 | 2,013.00 to 2,975.00 |
| Navin Fluorine International | 8,501 | 44,095 | 55.84 | 36.42 | 16.69% | 0.32 | 4,772.20 to 8,949.50 |
Lupin: Revenue Up 26.76% in FY26
Lupin is a global pharmaceutical company with a large presence in the United States, India and other markets across generics, branded drugs and respiratory products. It reported FY26 revenue of Rs 29,038.95 crore, up 26.76% year on year, and net profit of Rs 5,355.47 crore, up 61.98%. Revenue has compounded at 14.98% a year since FY22. Operating margin was 31.06% in FY26. The debt-to-equity ratio is 0.29.
In the June 2026 quarter, revenue rose 32.45% to Rs 8,407.21 crore and net profit grew 16.01% to Rs 1,416.98 crore. The share price has gained 111.00% over five years. Foreign investors raised their holding from 21.25% in June 2025 to 22.42% in June 2026. The stock trades at a PE of 16.57 against an industry PE of 36.42, below the sector average, with a return on equity of 23.76%.
Max Healthcare: 24.26% Profit CAGR Since FY22
Max Healthcare Institute runs a network of multi-speciality hospitals in Delhi NCR, Mumbai and other cities. It reported FY26 revenue of Rs 8,536.07 crore, up 18.82% year on year, and net profit of Rs 1,442.41 crore, up 34.07%. Net profit has compounded at 24.26% a year since FY22, while revenue has grown 20.42% a year. Operating margin was 28.15% in FY26. The debt-to-equity ratio is 0.32.
The stock trades at a PE of 59.66 against an industry PE of 60.75, below the sector average, with a return on equity of 13.42%. In the June 2026 quarter, revenue rose 16.60% to Rs 2,406.69 crore and net profit grew 4.87% to Rs 322.96 crore. The share price has gained 149.91% over five years. Domestic institutions raised their holding from 17.42% in June 2025 to 29.96% in June 2026.
Mphasis: Profit Compounding at 6.81% a Year
Mphasis provides IT, cloud and application services to banking, insurance and technology clients. It reported FY26 revenue of Rs 16,205.54 crore, up 11.88% year on year, and net profit of Rs 1,862.60 crore, up 9.43%. Net profit has compounded at 6.81% a year since FY22, while revenue has grown 7.53% a year. Operating margin was 20.58% in FY26. The debt-to-equity ratio is 0.24.
In the June 2026 quarter, revenue rose 17.14% to Rs 4,466.91 crore and net profit grew 10.82% to Rs 489.51 crore. Domestic institutions raised their holding from 37.07% in September 2025 to 45.85% in September 2026. The stock trades at a PE of 24.72 against an industry PE of 18.49, with a return on equity of 17.34%. The dividend yield is 2.50%.
Navin Fluorine: 26.02% Profit CAGR Since FY22
Navin Fluorine International makes specialty fluorochemicals, refrigerant gases and contract research and manufacturing services. It reported FY26 revenue of Rs 3,379.19 crore, up 41.20% year on year, and net profit of Rs 663.56 crore, up 129.92%. Net profit has compounded at 26.02% a year since FY22, while revenue has grown 22.66% a year. Operating margin was 34.41% in FY26. The debt-to-equity ratio is 0.32.
The stock trades at a PE of 55.84 against an industry PE of 36.42, with a return on equity of 16.69%. In the June 2026 quarter, revenue rose 46.11% to Rs 1,080.17 crore and net profit grew 107.66% to Rs 243.31 crore. The share price has gained 111.47% over five years and 61.62% over the past year. Foreign investors raised their holding from 21.98% in July 2025 to 23.73% in June 2026.
LIC Portfolio Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these LIC portfolio 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) |
|---|---|---|---|---|---|---|
| Lupin | 29,038.95 | 5,355.47 | 26.76% | 14.98% | 32.45% | 31.40% |
| Max Healthcare | 8,536.07 | 1,442.41 | 18.82% | 20.42% | 16.60% | 27.00% |
| Mphasis | 16,205.54 | 1,862.60 | 11.88% | 7.53% | 17.14% | 20.04% |
| Navin Fluorine | 3,379.19 | 663.56 | 41.20% | 22.66% | 46.11% | 37.52% |
Check the Univest Screener for live data on these LIC portfolio stocks
Institutional Holding in Lupin, Max Healthcare, Mphasis and Navin Fluorine
Institutional holding shows who is backing these LIC portfolio stocks alongside the promoter. The table uses the latest reported quarter for each. Max Healthcare has the deepest institutional backing, with FII and DII together holding 71.74% as of June 2026. Domestic institutions increased their holding over the past year in Max Healthcare (from 17.42% to 29.96%) and Mphasis (from 37.07% to 45.85%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Lupin | 46.85% | 22.42% | 24.65% | 6.08% | June 2026 |
| Max Healthcare | 23.71% | 41.78% | 29.96% | 4.56% | June 2026 |
| Mphasis | 30.53% | 19.39% | 45.85% | 4.23% | September 2026 |
| Navin Fluorine | 27.08% | 23.73% | 28.46% | 20.73% | June 2026 |
Risks to Weigh in LIC Portfolio Stocks
Being careful with LIC portfolio 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: Navin Fluorine trades at a PE of 55.84 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 LIC Portfolio Stocks
Picking from LIC portfolio 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 (18.49 to 60.75) 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 LIC portfolio stocks, Lupin stands out for the highest return on equity at 23.76%, Max Healthcare for the biggest five-year price gain at 149.91%, Mphasis for 11.88% revenue growth in FY26 and Navin Fluorine for the fastest profit growth, 26.02% 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 LIC portfolio 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 LIC Portfolio Stocks to Watch
Which are the best LIC portfolio stocks to watch for multibagger potential?
Ans. Lupin, Max Healthcare, Mphasis and Navin Fluorine are the 4 names this list highlights, with market caps of Rs 91,955 crore, Rs 86,925 crore, Rs 47,225 crore and Rs 44,095 crore respectively. Lupin is notable for the highest return on equity at 23.76%. Max Healthcare stands out for the biggest five-year price gain at 149.91%. Mphasis offers 11.88% revenue growth in FY26. Navin Fluorine brings the fastest profit growth, 26.02% a year since FY22. These are watchlist names for LIC portfolio stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Lupin a good stock for long-term investors?
Ans. Lupin has a return on equity of 23.76%, a PE of 16.57 against an industry PE of 36.42 and a market cap of Rs 91,955 crore. FY26 revenue rose 26.76%, and June 2026 quarter net profit grew 16.01%. Long-term returns in LIC portfolio stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Navin Fluorine become a multibagger from here?
Ans. Navin Fluorine has already gained 111.47% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in LIC portfolio stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 26.02% a year since FY22, and FY26 revenue rose 41.20%. At a PE of 55.84 against an industry PE of 36.42, valuation should be checked against that growth before investing.
What is the market cap of Lupin, Max Healthcare, Mphasis and Navin Fluorine?
Ans. As of 28 October 2026, Lupin has a market cap of Rs 91,955 crore, Max Healthcare has a market cap of Rs 86,925 crore, Mphasis has a market cap of Rs 47,225 crore and Navin Fluorine has a market cap of Rs 44,095 crore. All of them qualify as midcaps. 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 LIC portfolio stocks.
What are the risks of investing in LIC portfolio 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. Navin Fluorine trades at a PE of 55.84 against an industry PE of 36.42, so earnings growth needs to hold up.
Why is Navin Fluorine trading at a PE of 55.84?
Ans. Navin Fluorine’s PE of 55.84 compares with an industry PE of 36.42. The market is paying a premium for a return on equity of 16.69%, profit growth of 26.02% a year since FY22 and latest-quarter profit growth of 107.66%, which also means the stock is more sensitive if growth slows. Investors in LIC portfolio 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 Lupin, Max Healthcare, Mphasis and Navin Fluorine?
Ans. As of the latest reported quarter, FII and DII together hold 47.07% of Lupin (22.42% and 24.65%), 71.74% of Max Healthcare (41.78% and 29.96%), 65.24% of Mphasis (19.39% and 45.85%) and 52.19% of Navin Fluorine (23.73% and 28.46%). Rising institutional holding is a useful signal in LIC portfolio stocks, though it should be read with earnings trends rather than on its own.
