4 Largecap Stocks With Under 10 Per Cent FII Holding to Watch for Future Multibagger Potential: Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL
- October 21, 2026
- Posted by: Manan Bisht
- Category: Best Stocks
Bajaj Auto Rs 10,287. Hindustan Zinc Rs 538.40. Adani Energy Solutions Rs 1,364.90. BHEL Rs 427.35. Market caps from Rs 1.51 lakh crore to Rs 2.81 lakh crore. Data as of 20 Oct 2026.
Quick Answer
Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL are the 4 picks in this stocks with under 10 per cent FII holding watchlist, with market caps between Rs 1.51 lakh crore and Rs 2.81 lakh crore. Bajaj Auto stands out for the largest market cap at Rs 2,81,374 crore, while Hindustan Zinc offers the highest return on equity at 61.13%. PE ratios run from 13.12 to 53.53, so compare each one with its industry PE before investing. All figures are as of 20 October 2026.
Stocks with under 10 per cent FII holding to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL meet that test, with market caps from Rs 1.51 lakh crore to Rs 2.81 lakh crore and Bajaj Auto offering the largest market cap at Rs 2,81,374 crore. Each of these companies has foreign institutional holding below 10 per cent in the latest shareholding data, and net profit rose in FY26 and in the latest quarter.
This list covers companies with foreign institutional holding below 10 per cent in the latest shareholding data, 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 under 10 per cent FII holding usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 20 October 2026 and are drawn from NSE and BSE data and company filings.
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What Are Stocks With Under 10 Per Cent FII Holding and Why Do They Attract Multibagger Interest?
Stocks with under 10 per cent FII holding are shares where foreign funds hold a small share, which leaves room for more buying if interest grows. The four here cover motorcycles, zinc, power transmission and power equipment.
A low foreign stake can mean untapped demand. For stocks with under 10 per cent FII holding, rising profit is what could draw it. Investors researching stocks with under 10 per cent FII holding get a fuller picture by reading growth and valuation together. The table below lines up stocks with under 10 per cent FII holding on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use stocks with under 10 per cent FII holding as a starting point for your own research.
Stocks With Under 10 Per Cent FII Holding at a Glance: Price, Market Cap, PE and ROE
Prices are closing prices as of 20 October 2026. Hindustan Zinc combines the lowest PE of the group, 13.12, with the highest return on equity, 61.13%.
| Stock | CMP (Rs) | Market Cap (Rs Cr) | PE | Industry PE | ROE | Debt to Equity | 52-Week Range (Rs) |
|---|---|---|---|---|---|---|---|
| Bajaj Auto | 10,287 | 2,81,374 | 24.36 | 23.82 | 27.67% | 0.58 | 8,605.00 to 12,470.00 |
| Hindustan Zinc | 538.40 | 2,23,984 | 13.12 | 12.27 | 61.13% | 0.39 | 412.25 to 609.05 |
| Adani Energy Solutions | 1,364.90 | 1,65,429 | 53.53 | 22.18 | 8.98% | 1.93 | 803.10 to 1,789.00 |
| Bharat Heavy Electricals | 427.35 | 1,51,365 | 52.56 | 45.89 | 10.76% | 0.23 | 229.54 to 464.00 |
Bajaj Auto: Revenue Up 24.05% in FY26
Bajaj Auto makes motorcycles, three-wheelers and electric two-wheelers, and has a large export business. It reported FY26 revenue of Rs 65,087.22 crore, up 24.05% year on year, and net profit of Rs 10,574.50 crore, up 44.37%. Net profit has compounded at 14.44% a year since FY22, while revenue has grown 17.26% a year. Operating margin was 25.06% in FY26.
In the June 2026 quarter, revenue rose 64.02% to Rs 22,376.69 crore and net profit grew 44.26% to Rs 3,188.75 crore. The share price has gained 165.89% over five years and 13.76% over the past year. Domestic institutions raised their holding from 12.09% in June 2025 to 13.54% in June 2026. The stock trades at a PE of 24.36 against an industry PE of 23.82, with a return on equity of 27.67%.
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.
Adani Energy Solutions: Quarterly Profit Up 129.44%
Adani Energy Solutions builds and operates power transmission lines and runs electricity distribution and smart metering businesses. It reported FY26 revenue of Rs 28,325.16 crore, up 15.87% year on year, and net profit of Rs 2,392.75 crore, up 159.60%. Net profit has compounded at 17.96% a year since FY22, while revenue has grown 24.31% a year. Operating margin was 31.63% in FY26.
In the June 2026 quarter, revenue rose 40.24% to Rs 9,852.20 crore and net profit grew 129.44% to Rs 1,236.56 crore. The share price is up 44.33% over the past year. Domestic institutions raised their holding from 10.14% in December 2025 to 13.61% in September 2026. The stock trades at a PE of 53.53 against an industry PE of 22.18.
BHEL: 37.73% Profit CAGR Since FY22
Bharat Heavy Electricals is a government-owned maker of power generation, transmission, industrial and transportation equipment. It reported FY26 revenue of Rs 34,589.83 crore, up 20.08% year on year, and net profit of Rs 1,600.26 crore, up 199.73%. Net profit has compounded at 37.73% a year since FY22, while revenue has grown 12.54% a year. Operating margin was 10.18% in FY26. The debt-to-equity ratio is 0.23.
The stock trades at a PE of 52.56 against an industry PE of 45.89. In the September 2026 quarter, revenue rose 24.28% to Rs 9,553.01 crore and net profit grew 118.98% to Rs 820.94 crore. The share price has gained 488.34% over five years and 86.13% over the past year. Domestic institutions raised their holding from 18.62% in September 2025 to 21.88% in September 2026.
Stocks With Under 10 Per Cent FII Holding: Financial Comparison on Growth and Margins
The table compares scale and growth across these stocks with under 10 per cent FII holding. 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) |
|---|---|---|---|---|---|---|
| Bajaj Auto | 65,087.22 | 10,574.50 | 24.05% | 17.26% | 14.44% | 24.99% |
| Hindustan Zinc | 41,934 | 13,832 | 19.59% | 8.15% | 9.48% | 64.19% |
| Adani Energy Solutions | 28,325.16 | 2,392.75 | 15.87% | 24.31% | 17.96% | 32.73% |
| BHEL | 34,589.83 | 1,600.26 | 20.08% | 12.54% | 37.73% | 13.94% |
Check the Univest Screener for live data on these stocks with under 10 per cent FII holding
Institutional Holding in Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL
Institutional holding shows who is backing these stocks with under 10 per cent FII holding alongside the promoter. The table uses the latest reported quarter for each. BHEL has the deepest institutional backing, with FII and DII together holding 31.82% as of September 2026. Domestic institutions increased their holding over the past year in Bajaj Auto (from 12.09% to 13.54%), Adani Energy Solutions (from 10.14% to 13.61%) and BHEL (from 18.62% to 21.88%).
| Stock | Promoter | FII | DII | Public | Quarter |
|---|---|---|---|---|---|
| Bajaj Auto | 55.01% | 9.01% | 13.54% | 22.44% | June 2026 |
| Hindustan Zinc | 60.71% | 2.36% | 4.85% | 32.07% | September 2026 |
| Adani Energy Solutions | 73.39% | 9.56% | 13.61% | 3.44% | September 2026 |
| BHEL | 58.17% | 9.94% | 21.88% | 10.02% | September 2026 |
Risks to Weigh in Stocks With Under 10 Per Cent FII Holding
Being careful with stocks with under 10 per cent FII holding 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: Adani Energy Solutions trades at a PE of 53.53 against an industry PE of 22.18, 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 Under 10 Per Cent FII Holding
Picking from stocks with under 10 per cent FII holding 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 45.89) 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 under 10 per cent FII holding, Bajaj Auto stands out for the largest market cap at Rs 2,81,374 crore, Hindustan Zinc for the highest return on equity at 61.13%, Adani Energy Solutions for 15.87% revenue growth in FY26 and BHEL for the fastest profit growth, 37.73% 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 under 10 per cent FII holding 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 Under 10 Per Cent FII Holding to Watch
Which are the best stocks with under 10 per cent FII holding to watch for multibagger potential?
Ans. Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL are the 4 names this list highlights, with market caps of Rs 2,81,374 crore, Rs 2,23,984 crore, Rs 1,65,429 crore and Rs 1,51,365 crore respectively. Bajaj Auto is notable for the largest market cap at Rs 2,81,374 crore. Hindustan Zinc stands out for the highest return on equity at 61.13%. Adani Energy Solutions offers 15.87% revenue growth in FY26. BHEL brings the fastest profit growth, 37.73% a year since FY22. These are watchlist names for stocks with under 10 per cent FII holding, 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 stocks with under 10 per cent FII holding depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.
Can BHEL become a multibagger from here?
Ans. BHEL has already gained 488.34% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in stocks with under 10 per cent FII holding requires earnings to keep growing faster than the market for several years. Net profit has compounded at 37.73% a year since FY22, and FY26 revenue rose 20.08%. At a PE of 52.56 against an industry PE of 45.89, valuation should be checked against that growth before investing.
What is the market cap of Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL?
Ans. As of 20 October 2026, Bajaj Auto has a market cap of Rs 2,81,374 crore, Hindustan Zinc has a market cap of Rs 2,23,984 crore, Adani Energy Solutions has a market cap of Rs 1,65,429 crore and BHEL has a market cap of Rs 1,51,365 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 under 10 per cent FII holding.
What are the risks of investing in stocks with under 10 per cent FII holding?
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. Adani Energy Solutions trades at a PE of 53.53 against an industry PE of 22.18, so earnings growth needs to hold up.
Why is Adani Energy Solutions trading at a PE of 53.53?
Ans. Adani Energy Solutions’ PE of 53.53 compares with an industry PE of 22.18. The market is paying a premium for profit growth of 17.96% a year since FY22, latest-quarter profit growth of 129.44% and FY26 revenue growth of 15.87%, which also means the stock is more sensitive if growth slows. Investors in stocks with under 10 per cent FII holding who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.
How much do institutions hold in Bajaj Auto, Hindustan Zinc, Adani Energy Solutions and BHEL?
Ans. As of the latest reported quarter, FII and DII together hold 22.55% of Bajaj Auto (9.01% and 13.54%), 7.21% of Hindustan Zinc (2.36% and 4.85%), 23.17% of Adani Energy Solutions (9.56% and 13.61%) and 31.82% of BHEL (9.94% and 21.88%). Rising institutional holding is a useful signal in stocks with under 10 per cent FII holding, though it should be read with earnings trends rather than on its own.
