4 Largecap FII Backed Reasonable Price to Book Stocks to Watch for Future Multibagger Potential: ICICI Bank, NTPC, Tata Steel and Cholamandalam
- November 4, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
ICICI Bank Rs 1,424.50. NTPC Rs 321.55. Tata Steel Rs 176.50. Cholamandalam Rs 1,650. Market caps from Rs 1.46 lakh crore to Rs 9.79 lakh crore. Data as of 3 Nov 2026.
Quick Answer
ICICI Bank, NTPC, Tata Steel and Cholamandalam are the 4 picks in this FII backed reasonable price to book stocks watchlist, with market caps between Rs 1.46 lakh crore and Rs 9.79 lakh crore. ICICI Bank stands out for the largest market cap at Rs 9,79,392 crore, while NTPC offers the lowest PE of the group at 11.42. PE ratios run from 11.42 to 25.37, so compare each one with its industry PE before investing. All figures are as of 3 November 2026.
FII backed reasonable price to book stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. ICICI Bank, NTPC, Tata Steel and Cholamandalam meet that test, with market caps from Rs 1.46 lakh crore to Rs 9.79 lakh crore and ICICI Bank offering the largest market cap at Rs 9,79,392 crore. Each of these companies has a foreign institutional holding of at least 15 per cent and a price to book ratio below 5, 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 foreign institutional holding of at least 15 per cent and a price to book ratio below 5, 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, 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 FII backed reasonable price to book stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 3 November 2026 and are drawn from NSE and BSE data and company filings.
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What Are FII Backed Reasonable Price to Book Stocks and Why Do They Attract Multibagger Interest?
FII backed reasonable price to book stocks are shares of large companies in which foreign institutions own at least fifteen per cent of the business and whose shares trade below five times book value. The four here cover private banking, power generation, steel and vehicle finance.
Foreign funds apply strict checks before they buy, so a large stake in a company priced at a sensible multiple of book value shows trust in both the quality and the price of the business. For FII backed reasonable price to book stocks, both FY26 and the latest quarter showed growth. A sensible way to study FII backed reasonable price to book stocks is to look at profit growth, returns and valuation side by side. Below, each of FII backed reasonable price to book stocks gets its own breakdown of growth, returns and valuation. Treat FII backed reasonable price to book stocks as a research list, since share prices and rankings change with every earnings season.
FII Backed Reasonable Price to Book Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 3 November 2026. NTPC has the lowest PE of the group at 11.42, while Cholamandalam posts the highest return on equity at 17.18%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| ICICI Bank | 1,424.50 | 9,79,392 | 16.39 | 12.05 | 15.00% | 2.62 | 1,187.60 to 1,480.00 |
| NTPC | 321.55 | 3,23,542 | 11.42 | 21.61 | 13.31% | 1.59 | 298.00 to 414.40 |
| Tata Steel | 176.50 | 2,25,602 | 20.03 | 22.42 | 10.56% | 2.24 | 160.06 to 224.40 |
| Cholamandalam Investment and Finance | 1,650 | 1,45,926 | 25.37 | 17.68 | 17.18% | 4.76 | 1,299.40 to 1,952.50 |
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 16.39 against an industry PE of 12.05, with a return on equity of 15.00%.
NTPC: Five-Year Gain of 110.40%
NTPC is India’s largest power generation company and is growing its renewable energy portfolio. It reported FY26 revenue of Rs 1,89,798.56 crore and net profit of Rs 30,009.98 crore, up 48.19%. Net profit has compounded at 18.01% a year since FY22, while revenue has grown 8.89% a year. Operating margin was 32.45% in FY26.
The stock trades at a PE of 11.42 against an industry PE of 21.61, below the sector average, with a return on equity of 13.31%. The dividend yield is 2.70%. In the June 2026 quarter, revenue rose 6.94% to Rs 51,141.51 crore and net profit grew 12.90% to Rs 6,896.44 crore. The share price has gained 110.40% over five years. Domestic institutions raised their holding from 28.92% in June 2025 to 29.44% in June 2026.
Tata Steel: Market Cap of Rs 2,25,602 Crore
Tata Steel is one of the world’s major steel makers, with operations in India, the UK and the Netherlands. It reported FY26 revenue of Rs 2,33,541.72 crore, up 6.12% year on year, and net profit of Rs 10,885.82 crore, up 242.99%. Operating margin was 15.12% in FY26.
In the June 2026 quarter, revenue rose 14.14% to Rs 61,026.97 crore and net profit grew 18.82% to Rs 2,385.24 crore. Domestic institutions raised their holding from 26.25% in June 2025 to 26.62% in June 2026. The stock trades at a PE of 20.03 against an industry PE of 22.42, below the sector average. The dividend yield is 2.22%.
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.
The stock trades at a PE of 25.37 against an industry PE of 17.68, with a return on equity of 17.18%. 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.
FII Backed Reasonable Price to Book Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these FII backed reasonable price to book 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) | Latest Quarter Income Growth | Net Profit Growth (YoY) | Latest Quarter Profit Growth |
|---|---|---|---|---|---|
| ICICI Bank | 3,12,118.36 | 57,673.39 | 6.86% | 5.98% | 12.62% |
| NTPC | 1,89,798.56 | 30,009.98 | 6.94% | 48.19% | 12.90% |
| Tata Steel | 2,33,541.72 | 10,885.82 | 14.14% | 242.99% | 18.82% |
| Cholamandalam | 31,538.73 | 5,228.88 | 21.81% | 22.74% | 45.56% |
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Institutional Holding in ICICI Bank, NTPC, Tata Steel and Cholamandalam
Institutional holding shows who is backing these FII backed reasonable price to book 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 NTPC (from 28.92% to 29.44%), Tata Steel (from 26.25% to 26.62%) and Cholamandalam (from 16.06% to 20.62%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| ICICI Bank | Nil | 50.44% | 41.78% | 7.78% | September 2026 |
| NTPC | 51.10% | 16.30% | 29.44% | 3.15% | June 2026 |
| Tata Steel | 32.95% | 19.37% | 26.62% | 21.06% | June 2026 |
| Cholamandalam | 49.22% | 24.45% | 20.62% | 5.70% | June 2026 |
Risks to Weigh in FII Backed Reasonable Price to Book Stocks
Being careful with FII backed reasonable price to book 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: Cholamandalam trades at a PE of 25.37 against an industry PE of 17.68, 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 FII Backed Reasonable Price to Book Stocks
Picking from FII backed reasonable price to book 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 22.42) 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 FII backed reasonable price to book stocks, ICICI Bank stands out for the largest market cap at Rs 9,79,392 crore, NTPC for the lowest PE of the group at 11.42, Tata Steel for 6.12% revenue growth in FY26 and Cholamandalam for the highest return on equity at 17.18%. 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 FII backed reasonable price to book 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 FII Backed Reasonable Price to Book Stocks to Watch
Which are the best FII backed reasonable price to book stocks to watch for multibagger potential?
Ans. ICICI Bank, NTPC, Tata Steel and Cholamandalam are the 4 names this list highlights, with market caps of Rs 9,79,392 crore, Rs 3,23,542 crore, Rs 2,25,602 crore and Rs 1,45,926 crore respectively. ICICI Bank is notable for the largest market cap at Rs 9,79,392 crore. NTPC stands out for the lowest PE of the group at 11.42. Tata Steel offers 6.12% revenue growth in FY26. Cholamandalam brings the highest return on equity at 17.18%. These are watchlist names for FII backed reasonable price to book stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Cholamandalam a good stock for long-term investors?
Ans. Cholamandalam has a return on equity of 17.18%, a PE of 25.37 against an industry PE of 17.68 and a market cap of Rs 1,45,926 crore. Net profit has compounded at 24.75% a year since FY22, and FY26 revenue rose 20.60% while June 2026 quarter net profit grew 45.56%. Long-term returns in FII backed reasonable price to book stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can ICICI Bank become a multibagger from here?
Ans. ICICI Bank has already gained 85.57% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in FII backed reasonable price to book stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 22.29% a year since FY22, and FY26 revenue rose 5.95%. At a PE of 16.39 against an industry PE of 12.05, valuation should be checked against that growth before investing.
What is the market cap of ICICI Bank, NTPC, Tata Steel and Cholamandalam?
Ans. As of 3 November 2026, ICICI Bank has a market cap of Rs 9,79,392 crore, NTPC has a market cap of Rs 3,23,542 crore, Tata Steel has a market cap of Rs 2,25,602 crore and Cholamandalam has a market cap of Rs 1,45,926 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 FII backed reasonable price to book stocks.
What are the risks of investing in FII backed reasonable price to book 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. Cholamandalam trades at a PE of 25.37 against an industry PE of 17.68, so earnings growth needs to hold up.
Why is Cholamandalam trading at a PE of 25.37?
Ans. Cholamandalam’s PE of 25.37 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 FII backed reasonable price to book 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, NTPC, Tata Steel and Cholamandalam?
Ans. As of the latest reported quarter, FII and DII together hold 92.22% of ICICI Bank (50.44% and 41.78%), 45.74% of NTPC (16.30% and 29.44%), 45.99% of Tata Steel (19.37% and 26.62%) and 45.07% of Cholamandalam (24.45% and 20.62%). Rising institutional holding is a useful signal in FII backed reasonable price to book stocks, though it should be read with earnings trends rather than on its own.
