3 Largecap Reasonably Priced Growth Stocks to Watch for Future Multibagger Potential: NTPC, Hindustan Zinc and Tata Steel
- October 19, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
NTPC Rs 315.15. Hindustan Zinc Rs 540. Tata Steel Rs 175.50. Market caps from Rs 2.20 lakh crore to Rs 3.04 lakh crore. Data as of 16 Oct 2026.
Quick Answer
NTPC, Hindustan Zinc and Tata Steel are the 3 picks in this reasonably priced growth stocks watchlist, with market caps between Rs 2.20 lakh crore and Rs 3.04 lakh crore. NTPC stands out for the fastest profit growth, 18.01% a year since FY22, while Hindustan Zinc offers the highest return on equity at 61.13%. PE ratios run from 10.75 to 19.56, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.
Reasonably priced growth stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. NTPC, Hindustan Zinc and Tata Steel meet that test, with market caps from Rs 2.20 lakh crore to Rs 3.04 lakh crore and NTPC offering the fastest profit growth, 18.01% a year since FY22. Each company grew net profit by more than 30 per cent in FY26 and still trades at a PE below 20.
This list covers large companies with net profit growth above 30 per cent in FY26, a PE ratio below 20 and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening reasonably priced growth 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 Reasonably Priced Growth Stocks and Why Do They Attract Multibagger Interest?
Reasonably priced growth stocks are shares of companies that pair fast profit growth with a modest price to earnings ratio. Growth at a reasonable price is a classic way to look for stocks that can reward investors without a stretched valuation.
High growth usually comes with a high PE, so finding both a fast pace and a low PE is uncommon. Businesses that keep up the pace while the price stays modest are the ones investors compare in reasonably priced growth stocks.
Reasonably Priced Growth Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 16 October 2026. NTPC has the lowest PE of the group at 10.75, while Hindustan Zinc posts the highest return on equity at 61.13%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| NTPC | 315.15 | 3,04,475 | 10.75 | 21.61 | 13.31% | 1.33 | 305.70 to 414.40 |
| Hindustan Zinc | 540 | 2,23,984 | 13.12 | 12.27 | 61.13% | 0.39 | 412.25 to 609.05 |
| Tata Steel | 175.50 | 2,20,272 | 19.56 | 22.42 | 10.56% | 0.90 | 160.06 to 224.40 |
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.
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. The stock trades at a PE of 10.75 against an industry PE of 21.61, below the sector average, with a return on equity of 13.31%. The dividend yield is 2.87%.
Hindustan Zinc: Return on Equity of 61.13%
Hindustan Zinc is among the world’s largest integrated zinc producers and also produces lead and silver. It reported FY26 revenue of Rs 41,934 crore, up 19.59% year on year, and net profit of Rs 13,832 crore, up 33.60%. Net profit has compounded at 9.48% a year since FY22, while revenue has grown 8.15% a year. Operating margin was 56.75% in FY26. The debt-to-equity ratio is 0.39.
The stock trades at a PE of 13.12 against an industry PE of 12.27, with a return on equity of 61.13%. The dividend yield is 1.89%. In the June 2026 quarter, revenue rose 74.70% to Rs 14,063 crore and net profit grew 144.81% to Rs 5,469 crore. Foreign investors raised their holding from 1.31% in September 2025 to 2.36% in September 2026.
Tata Steel: Market Cap of Rs 2,20,272 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 19.56 against an industry PE of 22.42, below the sector average. The dividend yield is 2.27%.
Reasonably Priced Growth Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these reasonably priced 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 | Revenue (Rs Cr) | Net Profit (Rs Cr) | Latest Quarter Revenue Growth | Net Profit Growth (YoY) | Latest Quarter Profit Growth | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| NTPC | 1,89,798.56 | 30,009.98 | 6.94% | 48.19% | 12.90% | 35.04% |
| Hindustan Zinc | 41,934 | 13,832 | 74.70% | 33.60% | 144.81% | 64.19% |
| Tata Steel | 2,33,541.72 | 10,885.82 | 14.14% | 242.99% | 18.82% | 15.31% |
Check the Univest Screener for live data on these reasonably priced growth stocks
Institutional Holding in NTPC, Hindustan Zinc and Tata Steel
Institutional holding shows who is backing these reasonably priced growth stocks alongside the promoter. The table uses the latest reported quarter for each. Tata Steel has the deepest institutional backing, with FII and DII together holding 45.99% as of June 2026. Domestic institutions increased their holding over the past year in NTPC (from 28.92% to 29.44%) and Tata Steel (from 26.25% to 26.62%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| NTPC | 51.10% | 16.30% | 29.44% | 3.15% | June 2026 |
| Hindustan Zinc | 60.71% | 2.36% | 4.85% | 32.07% | September 2026 |
| Tata Steel | 32.95% | 19.37% | 26.62% | 21.06% | June 2026 |
Risks to Weigh in Reasonably Priced Growth Stocks
Being careful with reasonably priced growth stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:
- Profit growth can fall back if commodity prices change.
- A low PE can reflect cyclical earnings.
- Valuation: Hindustan Zinc trades at a PE of 13.12 against an industry PE of 12.27, 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 Reasonably Priced Growth Stocks
Picking from reasonably priced growth 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 (12.27 to 22.42) and ask whether the growth rate justifies any gap.
- Track net profit growth, the PE ratio and the operating margin 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 NTPC, Hindustan Zinc and Tata Steel live prices.
Conclusion
Among reasonably priced growth stocks, NTPC stands out for the fastest profit growth, 18.01% a year since FY22, Hindustan Zinc for the highest return on equity at 61.13% and Tata Steel for 6.12% 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 reasonably priced 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 Reasonably Priced Growth Stocks to Watch
Which are the best reasonably priced growth stocks to watch for multibagger potential?
Ans. NTPC, Hindustan Zinc and Tata Steel are the 3 names this list highlights, with market caps of Rs 3,04,475 crore, Rs 2,23,984 crore and Rs 2,20,272 crore respectively. NTPC is notable for the fastest profit growth, 18.01% a year since FY22. Hindustan Zinc stands out for the highest return on equity at 61.13%. Tata Steel offers 6.12% revenue growth in FY26. These are watchlist names for reasonably priced growth stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Hindustan Zinc a good stock for long-term investors?
Ans. Hindustan Zinc has a return on equity of 61.13%, a PE of 13.12 against an industry PE of 12.27 and a market cap of Rs 2,23,984 crore. Net profit has compounded at 9.48% a year since FY22, and FY26 revenue rose 19.59% while June 2026 quarter net profit grew 144.81%. Long-term returns in reasonably priced growth stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can NTPC become a multibagger from here?
Ans. NTPC has already gained 110.40% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in reasonably priced growth stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 18.01% a year since FY22, and June 2026 quarter net profit grew 12.90%. At a PE of 10.75 against an industry PE of 21.61, valuation should be checked against that growth before investing.
What is the market cap of NTPC, Hindustan Zinc and Tata Steel?
Ans. As of 16 October 2026, NTPC has a market cap of Rs 3,04,475 crore, Hindustan Zinc has a market cap of Rs 2,23,984 crore and Tata Steel has a market cap of Rs 2,20,272 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 reasonably priced growth stocks.
What are the risks of investing in reasonably priced growth stocks?
Ans. The main risks are cyclical earnings, commodity price swings and growth that eases from a high base. Companies with steady cash flows and strong balance sheets handle these better. Hindustan Zinc trades at a PE of 13.12 against an industry PE of 12.27, so earnings growth needs to hold up.
Is NTPC trading below its industry PE?
Ans. NTPC trades at a PE of 10.75 against an industry PE of 21.61. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 18.01% a year since FY22 and June 2026 quarter net profit grew 12.90%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in NTPC, Hindustan Zinc and Tata Steel?
Ans. As of the latest reported quarter, FII and DII together hold 45.74% of NTPC (16.30% and 29.44%), 7.21% of Hindustan Zinc (2.36% and 4.85%) and 45.99% of Tata Steel (19.37% and 26.62%). Rising institutional holding is a useful signal in reasonably priced growth stocks, though it should be read with earnings trends rather than on its own.
