{"id":316339,"date":"2026-10-19T12:17:59","date_gmt":"2026-10-19T06:47:59","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=316339"},"modified":"2026-10-19T12:17:59","modified_gmt":"2026-10-19T06:47:59","slug":"rajasthan-based-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/","title":{"rendered":"3 Top Rajasthan-based Stocks to Watch for Future Multibagger Potential: Hindustan Zinc, Shree Cement and Bikaji Foods"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Hindustan Zinc Rs 540. Shree Cement Rs 22,460. Bikaji Foods Rs 474.15. Market caps from Rs 11,879 crore to Rs 2.24 lakh crore. Data as of 16 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Hindustan Zinc, Shree Cement and Bikaji Foods are the 3 picks in this Rajasthan-based stocks watchlist, with market caps between Rs 11,879 crore and Rs 2.24 lakh crore. Hindustan Zinc stands out for the highest return on equity at 61.13%, while Shree Cement offers a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.08. PE ratios run from 13.12 to 48.99, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.<\/p>\n<\/p><\/div>\n<p>Rajasthan-based stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Hindustan Zinc, Shree Cement and Bikaji Foods meet that test, with market caps from Rs 11,879 crore to Rs 2.24 lakh crore and Hindustan Zinc offering the highest return on equity at 61.13%. Rajasthan&#8217;s mineral wealth and food traditions have built a zinc miner, a cement maker and a snacks company.<\/p>\n<p>This list covers listed companies with their headquarters or registered office in Rajasthan and complete, verifiable financials, ranked by market capitalisation. Not every name here is a largecap, so the list takes the leading companies of the sector by market capitalisation. Investors screening Rajasthan-based 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.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=rajasthan-based-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#What_Are_Rajasthan-based_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Rajasthan-based Stocks and Why Do They Attract Multibagger Interest?\">What Are Rajasthan-based Stocks and Why Do They Attract Multibagger Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Rajasthan-based_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"Rajasthan-based Stocks at a Glance: Price, Market Cap, PE and ROE\">Rajasthan-based Stocks at a Glance: Price, Market Cap, PE and ROE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Hindustan_Zinc_Return_on_Equity_of_6113\" title=\"Hindustan Zinc: Return on Equity of 61.13%\">Hindustan Zinc: Return on Equity of 61.13%<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Shree_Cement_Debt-to-Equity_of_008\" title=\"Shree Cement: Debt-to-Equity of 0.08\">Shree Cement: Debt-to-Equity of 0.08<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Bikaji_Foods_3525_Profit_CAGR_Since_FY22\" title=\"Bikaji Foods: 35.25% Profit CAGR Since FY22\">Bikaji Foods: 35.25% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Rajasthan-based_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Rajasthan-based Stocks: Financial Comparison on Growth and Margins\">Rajasthan-based Stocks: Financial Comparison on Growth and Margins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Hindustan_Zinc_Shree_Cement_and_Bikaji_Foods\" title=\"Institutional Holding in Hindustan Zinc, Shree Cement and Bikaji Foods\">Institutional Holding in Hindustan Zinc, Shree Cement and Bikaji Foods<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Rajasthan-based_Stocks\" title=\"Risks to Weigh in Rajasthan-based Stocks\">Risks to Weigh in Rajasthan-based Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Rajasthan-based_Stocks\" title=\"How to Choose Between Rajasthan-based Stocks\">How to Choose Between Rajasthan-based Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Rajasthan-based_Stocks_to_Watch\" title=\"Frequently Asked Questions on Rajasthan-based Stocks to Watch\">Frequently Asked Questions on Rajasthan-based Stocks to Watch<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Which_are_the_best_Rajasthan-based_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best Rajasthan-based stocks to watch for multibagger potential?\">Which are the best Rajasthan-based stocks to watch for multibagger potential?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Is_Hindustan_Zinc_a_good_stock_for_long-term_investors\" title=\"Is Hindustan Zinc a good stock for long-term investors?\">Is Hindustan Zinc a good stock for long-term investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Can_Bikaji_Foods_become_a_multibagger_from_here\" title=\"Can Bikaji Foods become a multibagger from here?\">Can Bikaji Foods become a multibagger from here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Hindustan_Zinc_Shree_Cement_and_Bikaji_Foods\" title=\"What is the market cap of Hindustan Zinc, Shree Cement and Bikaji Foods?\">What is the market cap of Hindustan Zinc, Shree Cement and Bikaji Foods?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_Rajasthan-based_stocks\" title=\"What are the risks of investing in Rajasthan-based stocks?\">What are the risks of investing in Rajasthan-based stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#Why_is_Shree_Cement_trading_at_a_PE_of_4899\" title=\"Why is Shree Cement trading at a PE of 48.99?\">Why is Shree Cement trading at a PE of 48.99?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/rajasthan-based-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Hindustan_Zinc_Shree_Cement_and_Bikaji_Foods\" title=\"How much do institutions hold in Hindustan Zinc, Shree Cement and Bikaji Foods?\">How much do institutions hold in Hindustan Zinc, Shree Cement and Bikaji Foods?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Rajasthan-based_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Rajasthan-based Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Rajasthan-based stocks are shares of companies based in Rajasthan. They include one of the world&#8217;s largest zinc miners, a leading cement maker and a snacks company known for its bhujia and namkeen.<\/p>\n<p>Metal demand, construction activity and packaged snack consumption all support these businesses. Companies with low costs, strong brands and healthy margins are the ones investors compare in Rajasthan-based stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rajasthan-based_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>Rajasthan-based Stocks at a Glance: Price, Market Cap, PE and ROE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are closing prices as of 16 October 2026. Hindustan Zinc combines the lowest PE of the group, 13.12, with the highest return on equity, 61.13%.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Industry PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Debt to Equity<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">52-Week Range (Rs)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/hindzinc\/hindustan-zinc-ltd-share-price-today\">Hindustan Zinc<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">540<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,23,984<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.12<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.27<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">61.13%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.39<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">412.25 to 609.05<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/shreecem\/shree-cement-ltd-share-price-today\">Shree Cement<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">22,460<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">80,154<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">48.99<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">29.41<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.49%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.08<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21,355.00 to 30,285.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/bikaji\/bikaji-foods-international-ltd-share-price-today\">Bikaji Foods International<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">474.15<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11,879<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46.54<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.68<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.07%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.19<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">462.00 to 768.50<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Hindustan_Zinc_Return_on_Equity_of_6113\"><\/span><strong>Hindustan Zinc: Return on Equity of 61.13%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hindustan Zinc is among the world&#8217;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.<\/p>\n<p>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 13.12 against an industry PE of 12.27, with a return on equity of 61.13%. The dividend yield is 1.89%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Shree_Cement_Debt-to-Equity_of_008\"><\/span><strong>Shree Cement: Debt-to-Equity of 0.08<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Shree Cement is a cost-efficient cement producer that began in north India and has expanded into other regions. It reported FY26 revenue of Rs 21,604.30 crore, up 8.72% year on year, and net profit of Rs 1,748.66 crore, up 55.60%. Revenue has compounded at 8.56% a year since FY22. Operating margin was 25.30% in FY26. The debt-to-equity ratio is 0.08, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 48.99 against an industry PE of 29.41. Revenue for the June 2026 quarter rose 16.84% to Rs 6,444.84 crore, at an operating margin of 23.81%. Domestic institutions raised their holding from 14.89% in June 2025 to 16.67% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Bikaji_Foods_3525_Profit_CAGR_Since_FY22\"><\/span><strong>Bikaji Foods: 35.25% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bikaji Foods International makes bhujia, namkeen, sweets and snacks sold across India and in export markets. It reported FY26 revenue of Rs 3,045.27 crore, up 14.71% year on year, and net profit of Rs 254.41 crore, up 30.91%. Net profit has compounded at 35.25% a year since FY22, while revenue has grown 17.07% a year. Operating margin was 15.30% in FY26. The debt-to-equity ratio is 0.19.<\/p>\n<p>In the June 2026 quarter, revenue rose 12.79% to Rs 747.40 crore and net profit grew 1.61% to Rs 59.47 crore. Domestic institutions raised their holding from 13.37% in June 2025 to 17.50% in June 2026. The stock trades at a PE of 46.54 against an industry PE of 34.68, with a return on equity of 16.07%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Rajasthan-based_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Rajasthan-based Stocks: Financial Comparison on Growth and Margins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares scale and growth across these Rajasthan-based stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue Growth (YoY)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Revenue CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Latest Quarter Revenue Growth<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Operating Margin (Latest Quarter)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Hindustan Zinc<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">41,934<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13,832<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.59%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.15%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">74.70%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">64.19%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Shree Cement<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21,604.30<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,748.66<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.72%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.56%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.84%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.81%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Bikaji Foods<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,045.27<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">254.41<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.71%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.07%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.79%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.57%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these Rajasthan-based stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Hindustan_Zinc_Shree_Cement_and_Bikaji_Foods\"><\/span><strong>Institutional Holding in Hindustan Zinc, Shree Cement and Bikaji Foods<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these Rajasthan-based stocks alongside the promoter. The table uses the latest reported quarter for each. Shree Cement has the deepest institutional backing, with FII and DII together holding 24.89% as of June 2026. Domestic institutions increased their holding over the past year in Shree Cement (from 14.89% to 16.67%) and Bikaji Foods (from 13.37% to 17.50%).<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Promoter<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">FII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">DII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Public<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Quarter<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Hindustan Zinc<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">60.71%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2.36%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.85%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">32.07%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Shree Cement<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">62.55%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.22%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.67%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.57%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Bikaji Foods<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">73.88%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.61%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.50%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.02%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_Rajasthan-based_Stocks\"><\/span><strong>Risks to Weigh in Rajasthan-based Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with Rajasthan-based stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:<\/p>\n<ul>\n<li>Metal earnings depend on global prices.<\/li>\n<li>Cement and food costs can influence margins.<\/li>\n<li><strong>Valuation:<\/strong> Shree Cement trades at a PE of 48.99 against an industry PE of 29.41, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 3 names puts the allocation in one sector, so size each position to match your risk appetite.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_Between_Rajasthan-based_Stocks\"><\/span><strong>How to Choose Between Rajasthan-based Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from Rajasthan-based stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.<\/li>\n<li>Compare each PE with the industry PE (12.27 to 34.68) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track revenue growth, the operating margin and the return on equity in every quarterly result.<\/li>\n<li>Stagger entries across quarters and review institutional holding every reporting season.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Hindustan Zinc, Shree Cement and Bikaji Foods live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among Rajasthan-based stocks, Hindustan Zinc stands out for the highest return on equity at 61.13%, Shree Cement for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.08 and Bikaji Foods for the fastest profit growth, 35.25% 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 Rajasthan-based 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.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_Rajasthan-based_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Rajasthan-based Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_Rajasthan-based_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best Rajasthan-based stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Hindustan Zinc, Shree Cement and Bikaji Foods are the 3 names this list highlights, with market caps of Rs 2,23,984 crore, Rs 80,154 crore and Rs 11,879 crore respectively. Hindustan Zinc is notable for the highest return on equity at 61.13%. Shree Cement stands out for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.08. Bikaji Foods offers the fastest profit growth, 35.25% a year since FY22. These are watchlist names for Rajasthan-based stocks, not recommendations, so match each one to your own risk profile and time horizon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Hindustan_Zinc_a_good_stock_for_long-term_investors\"><\/span><strong>Is Hindustan Zinc a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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 Rajasthan-based stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_Bikaji_Foods_become_a_multibagger_from_here\"><\/span><strong>Can Bikaji Foods become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Bikaji Foods has a market cap of Rs 11,879 crore. A multibagger outcome in Rajasthan-based stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 35.25% a year since FY22, and FY26 revenue rose 14.71%. At a PE of 46.54 against an industry PE of 34.68, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Hindustan_Zinc_Shree_Cement_and_Bikaji_Foods\"><\/span><strong>What is the market cap of Hindustan Zinc, Shree Cement and Bikaji Foods?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 16 October 2026, Hindustan Zinc has a market cap of Rs 2,23,984 crore, Shree Cement has a market cap of Rs 80,154 crore and Bikaji Foods has a market cap of Rs 11,879 crore. Hindustan Zinc is the largest of the group. 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 Rajasthan-based stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_Rajasthan-based_stocks\"><\/span><strong>What are the risks of investing in Rajasthan-based stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are swings in metal prices, fuel and raw material costs and demand for construction. Companies with low production costs and strong brands handle these better. Shree Cement trades at a PE of 48.99 against an industry PE of 29.41, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Shree_Cement_trading_at_a_PE_of_4899\"><\/span><strong>Why is Shree Cement trading at a PE of 48.99?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Shree Cement&#8217;s PE of 48.99 compares with an industry PE of 29.41. The market is paying a premium for its market position and earnings record, which also means the stock is more sensitive if growth slows. Investors in Rajasthan-based stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_Hindustan_Zinc_Shree_Cement_and_Bikaji_Foods\"><\/span><strong>How much do institutions hold in Hindustan Zinc, Shree Cement and Bikaji Foods?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of the latest reported quarter, FII and DII together hold 7.21% of Hindustan Zinc (2.36% and 4.85%), 24.89% of Shree Cement (8.22% and 16.67%) and 22.11% of Bikaji Foods (4.61% and 17.50%). Rising institutional holding is a useful signal in Rajasthan-based stocks, though it should be read with earnings trends rather than on its own.<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best Rajasthan-based stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Hindustan Zinc, Shree Cement and Bikaji Foods are the 3 names this list highlights, with market caps of Rs 2,23,984 crore, Rs 80,154 crore and Rs 11,879 crore respectively. Hindustan Zinc is notable for the highest return on equity at 61.13%. Shree Cement stands out for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.08. Bikaji Foods offers the fastest profit growth, 35.25% a year since FY22. 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