4 Largecap Stocks With PE Between 10 and 20 to Watch for Future Multibagger Potential: Infosys, M&M, Hindustan Zinc and Shriram Finance
- October 27, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Infosys Rs 1,166. M&M Rs 2,853.10. Hindustan Zinc Rs 497. Shriram Finance Rs 825. Market caps from Rs 2.04 lakh crore to Rs 4.47 lakh crore. Data as of 26 Oct 2026.
Quick Answer
Infosys, M&M, Hindustan Zinc and Shriram Finance are the 4 picks in this stocks with PE between 10 and 20 watchlist, with market caps between Rs 2.04 lakh crore and Rs 4.47 lakh crore. Infosys stands out for the largest market cap at Rs 4,46,753 crore, while M&M offers 25.21% revenue growth in FY26. PE ratios run from 12.59 to 18.07, so compare each one with its industry PE before investing. All figures are as of 26 October 2026.
Stocks with PE between 10 and 20 to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Infosys, M&M, Hindustan Zinc and Shriram Finance meet that test, with market caps from Rs 2.04 lakh crore to Rs 4.47 lakh crore and Infosys offering the largest market cap at Rs 4,46,753 crore. Each of these companies has a price to earnings ratio between 10 and 20, 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 price to earnings ratio between 10 and 20, 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 stocks with PE between 10 and 20 usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 26 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Stocks With PE Between 10 and 20 and Why Do They Attract Multibagger Interest?
Stocks with PE between 10 and 20 are shares that trade at 10 to 20 times earnings, a modest valuation range that leaves room for the share price to catch up with profit growth. The four here cover IT services, utility vehicles, zinc mining and consumer finance.
A PE in this range means investors are paying a reasonable price for each rupee of earnings while profit keeps rising. For stocks with PE between 10 and 20, both FY26 and the latest quarter showed growth. Whichever way you read stocks with PE between 10 and 20, the common thread is rising profit backed by complete financial data. With stocks with PE between 10 and 20, comparing valuation, growth and balance sheet strength together works better than relying on one number. Every company in the table below passed a rising-profit check, and the figures for stocks with PE between 10 and 20 are complete. Read each company’s latest results and exchange filings before acting on stocks with PE between 10 and 20.
Stocks With PE Between 10 and 20 at a Glance: Price, Market Cap, PE, ROE and Price to Book
Prices are closing prices as of 26 October 2026. Hindustan Zinc combines the lowest PE of the group, 12.59, with the highest return on equity, 61.13%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Price to Book | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Infosys | 1,166 | 4,46,753 | 14.73 | 18.27 | 33.24% | 5.18 | 980.40 to 1,728.00 |
| Mahindra & Mahindra | 2,853.10 | 3,46,727 | 17.12 | 23.82 | 18.37% | 3.73 | 2,744.30 to 3,839.90 |
| Hindustan Zinc | 497 | 2,14,904 | 12.59 | 12.27 | 61.13% | 9.50 | 412.25 to 609.05 |
| Shriram Finance | 825 | 2,04,495 | 18.07 | 17.68 | 15.21% | 1.94 | 662.25 to 1,153.70 |
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.
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. The stock trades at a PE of 14.73 against an industry PE of 18.27, below the sector average, with a return on equity of 33.24%. The dividend yield is 4.35%.
M&M: 26.58% Profit CAGR Since FY22
Mahindra & Mahindra is one of the largest SUV makers in India and the country’s largest tractor maker, with financial services and electric vehicles in its portfolio. It reported FY26 revenue of Rs 2,02,084.34 crore, up 25.21% year on year, and net profit of Rs 18,621.71 crore, up 32.32%. Net profit has compounded at 26.58% a year since FY22, while revenue has grown 22.04% a year. Operating margin was 21.19% in FY26.
The stock trades at a PE of 17.12 against an industry PE of 23.82, below the sector average, with a return on equity of 18.37%. In the June 2026 quarter, revenue rose 27.47% to Rs 59,203.60 crore and net profit grew 37.04% to Rs 5,997.56 crore. The share price has gained 220.52% over five years. Domestic institutions raised their holding from 29.59% in June 2025 to 32.65% in June 2026.
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.
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. The stock trades at a PE of 12.59 against an industry PE of 12.27, with a return on equity of 61.13%. The dividend yield is 1.97%.
Shriram Finance: 38.64% Profit CAGR Since FY22
Shriram Finance is a major NBFC focused on commercial vehicle, small business and personal loans. It reported FY26 total income of Rs 48,192.65 crore, up 15.13% year on year, and net profit of Rs 10,004.20 crore, up 6.16%. Net profit has compounded at 38.64% a year since FY22, while total income has grown 25.75% a year.
The stock trades at a PE of 18.07 against an industry PE of 17.68, with a return on equity of 15.21%. In the June 2026 quarter, total income rose 16.26% to Rs 13,418.74 crore and net profit grew 59.95% to Rs 3,447.26 crore. The share price has gained 239.61% over five years and 40.91% over the past year. Domestic institutions raised their holding from 18.66% in September 2025 to 19.90% in June 2026.
Stocks With PE Between 10 and 20: Financial Comparison on Growth and Margins
The table compares scale and growth across these stocks with PE between 10 and 20. 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 |
|---|---|---|---|---|---|
| Infosys | 1,82,972 | 29,474 | 9.83% | 10.23% | 7.41% |
| M&M | 2,02,084.34 | 18,621.71 | 25.21% | 22.04% | 26.58% |
| Hindustan Zinc | 41,934 | 13,832 | 19.59% | 8.15% | 9.48% |
| Shriram Finance | 48,192.65 | 10,004.20 | 15.13% | 25.75% | 38.64% |
Check the Univest Screener for live data on these stocks with PE between 10 and 20
Institutional Holding in Infosys, M&M, Hindustan Zinc and Shriram Finance
Institutional holding shows who is backing these stocks with PE between 10 and 20 alongside the promoter. The table uses the latest reported quarter for each. Shriram Finance has the deepest institutional backing, with FII and DII together holding 74.67% as of June 2026. Domestic institutions increased their holding over the past year in Infosys (from 39.60% to 42.96%), M&M (from 29.59% to 32.65%) and Shriram Finance (from 18.66% to 19.90%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Infosys | 13.82% | 27.09% | 42.96% | 16.13% | June 2026 |
| M&M | 18.45% | 34.89% | 32.65% | 14.01% | June 2026 |
| Hindustan Zinc | 60.71% | 2.36% | 4.85% | 32.07% | September 2026 |
| Shriram Finance | 20.30% | 54.77% | 19.90% | 5.04% | June 2026 |
Risks to Weigh in Stocks With PE Between 10 and 20
Being careful with stocks with PE between 10 and 20 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: Hindustan Zinc trades at a PE of 12.59 against an industry PE of 12.27, 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 Stocks With PE Between 10 and 20
Picking from stocks with PE between 10 and 20 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 23.82) 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 stocks with PE between 10 and 20, Infosys stands out for the largest market cap at Rs 4,46,753 crore, M&M for 25.21% revenue growth in FY26, Hindustan Zinc for the highest return on equity at 61.13% and Shriram Finance for the fastest profit growth, 38.64% 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 stocks with PE between 10 and 20 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 Stocks With PE Between 10 and 20 to Watch
Which are the best stocks with PE between 10 and 20 to watch for multibagger potential?
Ans. Infosys, M&M, Hindustan Zinc and Shriram Finance are the 4 names this list highlights, with market caps of Rs 4,46,753 crore, Rs 3,46,727 crore, Rs 2,14,904 crore and Rs 2,04,495 crore respectively. Infosys is notable for the largest market cap at Rs 4,46,753 crore. M&M stands out for 25.21% revenue growth in FY26. Hindustan Zinc offers the highest return on equity at 61.13%. Shriram Finance brings the fastest profit growth, 38.64% a year since FY22. These are watchlist names for stocks with PE between 10 and 20, 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 12.59 against an industry PE of 12.27 and a market cap of Rs 2,14,904 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 stocks with PE between 10 and 20 depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can Shriram Finance become a multibagger from here?
Ans. Shriram Finance has already gained 239.61% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in stocks with PE between 10 and 20 requires earnings to keep growing faster than the market for several years. Net profit has compounded at 38.64% a year since FY22, and FY26 revenue rose 15.13%. At a PE of 18.07 against an industry PE of 17.68, valuation should be checked against that growth before investing.
What is the market cap of Infosys, M&M, Hindustan Zinc and Shriram Finance?
Ans. As of 26 October 2026, Infosys has a market cap of Rs 4,46,753 crore, M&M has a market cap of Rs 3,46,727 crore, Hindustan Zinc has a market cap of Rs 2,14,904 crore and Shriram Finance has a market cap of Rs 2,04,495 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 stocks with PE between 10 and 20.
What are the risks of investing in stocks with PE between 10 and 20?
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. Hindustan Zinc trades at a PE of 12.59 against an industry PE of 12.27, so earnings growth needs to hold up.
Is Hindustan Zinc trading below its industry PE?
Ans. Hindustan Zinc trades at a PE of 12.59 against an industry PE of 12.27. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 9.48% a year since FY22 and FY26 revenue rose 19.59%) and balance sheet strength before drawing a conclusion.
How much do institutions hold in Infosys, M&M, Hindustan Zinc and Shriram Finance?
Ans. As of the latest reported quarter, FII and DII together hold 70.05% of Infosys (27.09% and 42.96%), 67.54% of M&M (34.89% and 32.65%), 7.21% of Hindustan Zinc (2.36% and 4.85%) and 74.67% of Shriram Finance (54.77% and 19.90%). Rising institutional holding is a useful signal in stocks with PE between 10 and 20, though it should be read with earnings trends rather than on its own.
