4 Largecap Retirement Stocks to Watch for Future Multibagger Potential: LIC, Infosys, Asian Paints and United Spirits
- October 23, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
LIC Rs 387.50. Infosys Rs 1,153.35. Asian Paints Rs 2,284.80. United Spirits Rs 1,296.30. Market caps from Rs 1.01 lakh crore to Rs 4.98 lakh crore. Data as of 22 Oct 2026.
Quick Answer
LIC, Infosys, Asian Paints and United Spirits are the 4 picks in this retirement stocks watchlist, with market caps between Rs 1.01 lakh crore and Rs 4.98 lakh crore. LIC stands out for the fastest profit growth, 93.19% a year since FY22, while Infosys offers the highest return on equity at 33.24%. PE ratios run from 8.30 to 53.66, so compare each one with its industry PE before investing. All figures are as of 22 October 2026.
Retirement stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. LIC, Infosys, Asian Paints and United Spirits meet that test, with market caps from Rs 1.01 lakh crore to Rs 4.98 lakh crore and LIC offering the fastest profit growth, 93.19% a year since FY22. Each of these companies has a debt-to-equity ratio below 0.5, a dividend yield of at least 1 per cent and a return on equity above 15 per cent, and net profit rose in FY26 and in the latest quarter.
This list covers companies with a debt-to-equity ratio below 0.5, a dividend yield of at least 1 per cent and a return on equity above 15 per cent, 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 retirement stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 22 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Retirement Stocks and Why Do They Attract Multibagger Interest?
Retirement stocks are shares of financially sound companies that pay regular dividends and grow steadily, which suits a long retirement horizon. The four here cover insurance, IT services, paints and spirits.
A retirement portfolio leans on steady income and low balance sheet risk. For retirement stocks, rising profit adds to the case. For retirement stocks, checking each result against the latest quarter matters more than any single ratio. The next sections explain what stands out in each of retirement stocks, using FY26 and latest quarter data. Prices move daily, so recheck the figures for retirement stocks before you decide.
Retirement Stocks at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 22 October 2026. LIC has the lowest PE of the group at 8.30, while Infosys posts the highest return on equity at 33.24%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Life Insurance Corporation of India | 387.50 | 4,98,410 | 8.30 | 10.47 | 32.53% | 0.00 | 360.75 to 468.48 |
| Infosys | 1,153.35 | 4,41,906 | 14.57 | 18.27 | 33.24% | 0.10 | 980.40 to 1,728.00 |
| Asian Paints | 2,284.80 | 2,26,035 | 46.73 | 42.98 | 20.24% | 0.18 | 2,115.00 to 2,985.70 |
| United Spirits | 1,296.30 | 1,01,095 | 53.66 | 54.95 | 20.53% | 0.05 | 1,210.80 to 1,563.40 |
LIC: 93.19% Profit CAGR Since FY22
LIC is India’s largest life insurer and one of the biggest institutional investors in the stock market, with a vast agent network across the country. It reported FY26 revenue of Rs 9,90,211.25 crore, up 10.23% year on year, and net profit of Rs 57,453.15 crore, up 18.90%. Net profit has compounded at 93.19% a year since FY22, while revenue has grown 7.96% a year. Operating margin was 5.51% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.
In the June 2026 quarter, revenue rose 6.97% to Rs 2,41,166.45 crore and net profit grew 23.98% to Rs 13,584.25 crore. Domestic institutions raised their holding from 1.36% in September 2025 to 6.17% in September 2026. The stock trades at a PE of 8.30 against an industry PE of 10.47, below the sector average, with a return on equity of 32.53%.
Infosys: Return on Equity of 33.24%
Infosys is a large IT services and consulting company that has built an AI-first offering around its Topaz platform. It reported FY26 revenue of Rs 1,82,972 crore, up 9.83% year on year, and net profit of Rs 29,474 crore, up 10.18%. Net profit has compounded at 7.41% a year since FY22, while revenue has grown 10.23% a year. Operating margin was 25.36% in FY26. The debt-to-equity ratio is 0.10, which keeps interest costs low.
The stock trades at a PE of 14.57 against an industry PE of 18.27, below the sector average, with a return on equity of 33.24%. The dividend yield is 4.40%. In the June 2026 quarter, revenue rose 13.56% to Rs 49,195 crore and net profit grew 12.29% to Rs 7,775 crore. Domestic institutions raised their holding from 39.60% in June 2025 to 42.96% in June 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 46.73 against an industry PE of 42.98, with a return on equity of 20.24%.
United Spirits: 20.50% Profit CAGR Since FY22
United Spirits, the Indian arm of Diageo, owns well-known brands such as McDowell’s, Royal Challenge and Antiquity. It reported FY26 revenue of Rs 12,945 crore, up 4.35% year on year, and net profit of Rs 1,709 crore, up 8.03%. Net profit has compounded at 20.50% a year since FY22, while revenue has grown 7.31% a year. Operating margin was 10.05% in FY26. The debt-to-equity ratio is 0.05, which keeps interest costs low.
The stock trades at a PE of 53.66 against an industry PE of 54.95, below the sector average, with a return on equity of 20.53%. Net profit for the June 2026 quarter grew 11.03% to Rs 463 crore. The share price has gained 57.63% over five years. Domestic institutions raised their holding from 14.40% in June 2025 to 17.15% in June 2026.
Retirement Stocks: Financial Comparison on Growth and Margins
The table compares scale and growth across these retirement 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 | 4-Year Net Profit CAGR | Operating Margin (Latest Quarter) |
|---|---|---|---|---|---|---|
| LIC | 9,90,211.25 | 57,453.15 | 10.23% | 7.96% | 93.19% | 12.00% |
| Infosys | 1,82,972 | 29,474 | 9.83% | 10.23% | 7.41% | 25.71% |
| Asian Paints | 36,307.34 | 4,394.69 | 5.31% | 5.34% | 9.25% | 23.26% |
| United Spirits | 12,945 | 1,709 | 4.35% | 7.31% | 20.50% | 10.57% |
Check the Univest Screener for live data on these retirement stocks
Institutional Holding in LIC, Infosys, Asian Paints and United Spirits
Institutional holding shows who is backing these retirement stocks alongside the promoter. The table uses the latest reported quarter for each. Infosys has the deepest institutional backing, with FII and DII together holding 70.05% as of June 2026. Domestic institutions increased their holding over the past year in LIC (from 1.36% to 6.17%), Infosys (from 39.60% to 42.96%) and United Spirits (from 14.40% to 17.15%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| LIC | 90.00% | 1.55% | 6.17% | 2.28% | September 2026 |
| Infosys | 13.82% | 27.09% | 42.96% | 16.13% | June 2026 |
| Asian Paints | 52.63% | 13.32% | 20.77% | 13.28% | June 2026 |
| United Spirits | 56.67% | 12.89% | 17.15% | 13.29% | June 2026 |
Risks to Weigh in Retirement Stocks
Being careful with retirement 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: Asian Paints trades at a PE of 46.73 against an industry PE of 42.98, 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 Retirement Stocks
Picking from retirement 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 (10.47 to 54.95) 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.
Download the Univest iOS App or Univest Android App to track LIC, Infosys, Asian Paints and United Spirits live prices.
Conclusion
Among retirement stocks, LIC stands out for the fastest profit growth, 93.19% a year since FY22, Infosys for the highest return on equity at 33.24%, Asian Paints for the strongest latest-quarter profit growth at 39.60% and United Spirits for the biggest five-year price gain at 57.63%. 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 retirement 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 Retirement Stocks to Watch
Which are the best retirement stocks to watch for multibagger potential?
Ans. LIC, Infosys, Asian Paints and United Spirits are the 4 names this list highlights, with market caps of Rs 4,98,410 crore, Rs 4,41,906 crore, Rs 2,26,035 crore and Rs 1,01,095 crore respectively. LIC is notable for the fastest profit growth, 93.19% a year since FY22. Infosys stands out for the highest return on equity at 33.24%. Asian Paints offers the strongest latest-quarter profit growth at 39.60%. United Spirits brings the biggest five-year price gain at 57.63%. These are watchlist names for retirement stocks, not recommendations, so match each one to your own risk profile and time horizon.
Is Infosys a good stock for long-term investors?
Ans. Infosys has a return on equity of 33.24%, a PE of 14.57 against an industry PE of 18.27 and a market cap of Rs 4,41,906 crore. Net profit has compounded at 7.41% a year since FY22, and FY26 revenue rose 9.83% while June 2026 quarter net profit grew 12.29%. Long-term returns in retirement stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can LIC become a multibagger from here?
Ans. LIC has a market cap of Rs 4,98,410 crore. A multibagger outcome in retirement stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 93.19% a year since FY22, and FY26 revenue rose 10.23%. At a PE of 8.30 against an industry PE of 10.47, valuation should be checked against that growth before investing.
What is the market cap of LIC, Infosys, Asian Paints and United Spirits?
Ans. As of 22 October 2026, LIC has a market cap of Rs 4,98,410 crore, Infosys has a market cap of Rs 4,41,906 crore, Asian Paints has a market cap of Rs 2,26,035 crore and United Spirits has a market cap of Rs 1,01,095 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 retirement stocks.
What are the risks of investing in retirement 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. Asian Paints trades at a PE of 46.73 against an industry PE of 42.98, so earnings growth needs to hold up.
Is LIC trading below its industry PE?
Ans. LIC trades at a PE of 8.30 against an industry PE of 10.47. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 93.19% a year since FY22 and FY26 revenue rose 10.23%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in LIC, Infosys, Asian Paints and United Spirits?
Ans. As of the latest reported quarter, FII and DII together hold 7.72% of LIC (1.55% and 6.17%), 70.05% of Infosys (27.09% and 42.96%), 34.09% of Asian Paints (13.32% and 20.77%) and 30.04% of United Spirits (12.89% and 17.15%). Rising institutional holding is a useful signal in retirement stocks, though it should be read with earnings trends rather than on its own.
