{"id":316409,"date":"2026-10-19T12:25:02","date_gmt":"2026-10-19T06:55:02","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=316409"},"modified":"2026-10-19T12:25:02","modified_gmt":"2026-10-19T06:55:02","slug":"kerala-based-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/kerala-based-stocks-to-watch-multibagger-potential\/","title":{"rendered":"3 Top Kerala-based Stocks to Watch for Future Multibagger Potential: Muthoot Finance, Federal Bank and Kalyan Jewellers"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Muthoot Finance Rs 2,598.30. Federal Bank Rs 338. Kalyan Jewellers Rs 558. Market caps from Rs 58,211 crore to Rs 1.04 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;\">Muthoot Finance, Federal Bank and Kalyan Jewellers are the 3 picks in this Kerala-based stocks watchlist, with market caps between Rs 58,211 crore and Rs 1.04 lakh crore. Muthoot Finance stands out for the highest return on equity at 28.01%, while Federal Bank offers the strongest latest-quarter profit growth at 53.42%. PE ratios run from 9.06 to 40.58, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.<\/p>\n<\/p><\/div>\n<p>Kerala-based stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Muthoot Finance, Federal Bank and Kalyan Jewellers meet that test, with market caps from Rs 58,211 crore to Rs 1.04 lakh crore and Muthoot Finance offering the highest return on equity at 28.01%. Kerala&#8217;s love of gold and its strong NRI base have built a gold lender, a jewellery retailer and a bank headquartered in the state.<\/p>\n<p>This list covers listed companies headquartered in Kerala with 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 Kerala-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=kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#What_Are_Kerala-based_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Kerala-based Stocks and Why Do They Attract Multibagger Interest?\">What Are Kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#Kerala-based_Stocks_at_a_Glance_Price_Market_Cap_PE_ROE_and_Price_to_Book\" title=\"Kerala-based Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book\">Kerala-based Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book<\/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\/kerala-based-stocks-to-watch-multibagger-potential\/#Muthoot_Finance_2736_Profit_CAGR_Since_FY22\" title=\"Muthoot Finance: 27.36% Profit CAGR Since FY22\">Muthoot Finance: 27.36% 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-4\" href=\"https:\/\/univest.in\/blogs-2\/kerala-based-stocks-to-watch-multibagger-potential\/#Federal_Bank_2290_Profit_CAGR_Since_FY22\" title=\"Federal Bank: 22.90% Profit CAGR Since FY22\">Federal Bank: 22.90% 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-5\" href=\"https:\/\/univest.in\/blogs-2\/kerala-based-stocks-to-watch-multibagger-potential\/#Kalyan_Jewellers_5669_Profit_CAGR_Since_FY22\" title=\"Kalyan Jewellers: 56.69% Profit CAGR Since FY22\">Kalyan Jewellers: 56.69% 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\/kerala-based-stocks-to-watch-multibagger-potential\/#Kerala-based_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Kerala-based Stocks: Financial Comparison on Growth and Margins\">Kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Muthoot_Finance_Federal_Bank_and_Kalyan_Jewellers\" title=\"Institutional Holding in Muthoot Finance, Federal Bank and Kalyan Jewellers\">Institutional Holding in Muthoot Finance, Federal Bank and Kalyan Jewellers<\/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\/kerala-based-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Kerala-based_Stocks\" title=\"Risks to Weigh in Kerala-based Stocks\">Risks to Weigh in Kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Kerala-based_Stocks\" title=\"How to Choose Between Kerala-based Stocks\">How to Choose Between Kerala-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\/kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Kerala-based_Stocks_to_Watch\" title=\"Frequently Asked Questions on Kerala-based Stocks to Watch\">Frequently Asked Questions on Kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#Which_are_the_best_Kerala-based_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best Kerala-based stocks to watch for multibagger potential?\">Which are the best Kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#Is_Muthoot_Finance_a_good_stock_for_long-term_investors\" title=\"Is Muthoot Finance a good stock for long-term investors?\">Is Muthoot Finance 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\/kerala-based-stocks-to-watch-multibagger-potential\/#Can_Kalyan_Jewellers_become_a_multibagger_from_here\" title=\"Can Kalyan Jewellers become a multibagger from here?\">Can Kalyan Jewellers 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\/kerala-based-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Muthoot_Finance_Federal_Bank_and_Kalyan_Jewellers\" title=\"What is the market cap of Muthoot Finance, Federal Bank and Kalyan Jewellers?\">What is the market cap of Muthoot Finance, Federal Bank and Kalyan Jewellers?<\/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\/kerala-based-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_Kerala-based_stocks\" title=\"What are the risks of investing in Kerala-based stocks?\">What are the risks of investing in Kerala-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\/kerala-based-stocks-to-watch-multibagger-potential\/#Why_is_Federal_Bank_trading_at_a_PE_of_1547\" title=\"Why is Federal Bank trading at a PE of 15.47?\">Why is Federal Bank trading at a PE of 15.47?<\/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\/kerala-based-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Muthoot_Finance_Federal_Bank_and_Kalyan_Jewellers\" title=\"How much do institutions hold in Muthoot Finance, Federal Bank and Kalyan Jewellers?\">How much do institutions hold in Muthoot Finance, Federal Bank and Kalyan Jewellers?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Kerala-based_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Kerala-based Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kerala-based stocks are shares of companies headquartered in Kerala. They include India&#8217;s largest gold lender, a jewellery chain and a private bank with a strong base of deposits from non-resident Indians.<\/p>\n<p>Demand for gold, rising credit and steady remittances from abroad support these businesses. Companies with strong brands, growing loan books and healthy returns are the ones investors compare in Kerala-based stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kerala-based_Stocks_at_a_Glance_Price_Market_Cap_PE_ROE_and_Price_to_Book\"><\/span><strong>Kerala-based Stocks at a Glance: Price, Market Cap, PE, ROE and Price to Book<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are closing prices as of 16 October 2026. Muthoot Finance combines the lowest PE of the group, 9.06, with the highest return on equity, 28.01%.<\/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;\">Price to Book<\/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\/muthootfin\/muthoot-finance-ltd-share-price-today\">Muthoot Finance<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,598.30<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,03,780<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.06<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.97<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">28.01%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2.56<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,545.00 to 4,149.50<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/federalbnk\/the-federal-bank-ltd-share-price-today\">Federal Bank<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">338<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">83,333<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.47<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.94<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.60%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2.02<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">211.52 to 371.70<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/kalyankjil\/kalyan-jewellers-india-ltd-share-price-today\">Kalyan Jewellers India<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">558<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">58,211<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">40.58<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46.75<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.41%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.23<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">327.05 to 648.95<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Muthoot_Finance_2736_Profit_CAGR_Since_FY22\"><\/span><strong>Muthoot Finance: 27.36% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Muthoot Finance is India&#8217;s largest gold loan NBFC by loan assets, with a branch network across the country. It reported FY26 total income of Rs 31,263.41 crore, up 54.27% year on year, and net profit of Rs 10,606.87 crore, up 98.17%. Net profit has compounded at 27.36% a year since FY22, while total income has grown 26.42% a year.<\/p>\n<p>In the June 2026 quarter, total income rose 34.48% to Rs 8,694.81 crore and net profit grew 43.08% to Rs 2,824.84 crore. The share price has gained 67.76% over five years. Foreign investors raised their holding from 10.84% in June 2025 to 11.61% in June 2026. The stock trades at a PE of 9.06 against an industry PE of 17.97, below the sector average, with a return on equity of 28.01%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Bank_2290_Profit_CAGR_Since_FY22\"><\/span><strong>Federal Bank: 22.90% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Federal Bank is a Kerala-based private sector bank with a strong NRI deposit base and a growing retail, small business and digital franchise. It reported FY26 total income of Rs 34,272.42 crore, up 7.00% year on year, and net profit of Rs 4,483.38 crore, up 6.71%. Net profit has compounded at 22.90% a year since FY22, while total income has grown 20.05% a year.<\/p>\n<p>The stock trades at a PE of 15.47 against an industry PE of 11.94, with a return on equity of 12.60%. In the September 2026 quarter, total income rose 19.01% to Rs 9,903.41 crore and net profit grew 53.42% to Rs 1,564.06 crore. The share price has gained 259.57% over five years and 57.58% over the past year. Domestic institutions raised their holding from 48.17% in June 2025 to 49.28% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kalyan_Jewellers_5669_Profit_CAGR_Since_FY22\"><\/span><strong>Kalyan Jewellers: 56.69% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Kalyan Jewellers is one of the largest jewellery retailers in India, with showrooms across India and the Middle East. It reported FY26 revenue of Rs 35,950.88 crore, up 42.72% year on year, and net profit of Rs 1,350.39 crore, up 89.09%. Net profit has compounded at 56.69% a year since FY22, while revenue has grown 34.90% a year. Operating margin was 7.62% in FY26.<\/p>\n<p>In the June 2026 quarter, revenue rose 45.52% to Rs 10,644.67 crore and net profit grew 32.03% to Rs 348.67 crore. The share price has gained 618.28% over five years and 14.90% over the past year. Promoters hold 62.85%, which keeps ownership stable. The stock trades at a PE of 40.58 against an industry PE of 46.75, below the sector average, with a return on equity of 21.41%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Kerala-based_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Kerala-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 Kerala-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;\">Total Income (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;\">Income Growth (YoY)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Income CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Net Profit CAGR<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Muthoot Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">31,263.41<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10,606.87<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">54.27%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.42%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.36%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Federal Bank<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34,272.42<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,483.38<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.00%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.05%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">22.90%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Kalyan Jewellers<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">35,950.88<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,350.39<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">42.72%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.90%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">56.69%<\/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 Kerala-based stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Muthoot_Finance_Federal_Bank_and_Kalyan_Jewellers\"><\/span><strong>Institutional Holding in Muthoot Finance, Federal Bank and Kalyan Jewellers<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these Kerala-based stocks alongside the promoter. The table uses the latest reported quarter for each. Federal Bank has the deepest institutional backing, with FII and DII together holding 76.99% as of June 2026. Domestic institutions increased their holding over the past year in Federal Bank (from 48.17% to 49.28%).<\/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;\">Muthoot Finance<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">73.35%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.61%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.29%<\/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;\">Federal Bank<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Nil<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.71%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">49.28%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.01%<\/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;\">Kalyan Jewellers<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">62.85%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.83%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.41%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.91%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_Kerala-based_Stocks\"><\/span><strong>Risks to Weigh in Kerala-based Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with Kerala-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>Gold-linked earnings depend on gold prices and demand.<\/li>\n<li>Lender earnings depend on interest rates.<\/li>\n<li><strong>Valuation:<\/strong> Federal Bank trades at a PE of 15.47 against an industry PE of 11.94, 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_Kerala-based_Stocks\"><\/span><strong>How to Choose Between Kerala-based Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from Kerala-based stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check asset quality and net interest margin first, then return on equity and price to book. Debt-to-equity does not apply to lenders.<\/li>\n<li>Compare each PE with the industry PE (11.94 to 46.75) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track revenue growth, loan growth 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 Muthoot Finance, Federal Bank and Kalyan Jewellers 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 Kerala-based stocks, Muthoot Finance stands out for the highest return on equity at 28.01%, Federal Bank for the strongest latest-quarter profit growth at 53.42% and Kalyan Jewellers for the fastest profit growth, 56.69% 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 Kerala-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_Kerala-based_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Kerala-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_Kerala-based_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best Kerala-based stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Muthoot Finance, Federal Bank and Kalyan Jewellers are the 3 names this list highlights, with market caps of Rs 1,03,780 crore, Rs 83,333 crore and Rs 58,211 crore respectively. Muthoot Finance is notable for the highest return on equity at 28.01%. Federal Bank stands out for the strongest latest-quarter profit growth at 53.42%. Kalyan Jewellers offers the fastest profit growth, 56.69% a year since FY22. These are watchlist names for Kerala-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_Muthoot_Finance_a_good_stock_for_long-term_investors\"><\/span><strong>Is Muthoot Finance a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Muthoot Finance has a return on equity of 28.01%, a PE of 9.06 against an industry PE of 17.97 and a market cap of Rs 1,03,780 crore. Net profit has compounded at 27.36% a year since FY22, and FY26 revenue rose 54.27% while June 2026 quarter net profit grew 43.08%. Long-term returns in Kerala-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_Kalyan_Jewellers_become_a_multibagger_from_here\"><\/span><strong>Can Kalyan Jewellers become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Kalyan Jewellers has already gained 618.28% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in Kerala-based stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 56.69% a year since FY22, and FY26 revenue rose 42.72%. At a PE of 40.58 against an industry PE of 46.75, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Muthoot_Finance_Federal_Bank_and_Kalyan_Jewellers\"><\/span><strong>What is the market cap of Muthoot Finance, Federal Bank and Kalyan Jewellers?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 16 October 2026, Muthoot Finance has a market cap of Rs 1,03,780 crore, Federal Bank has a market cap of Rs 83,333 crore and Kalyan Jewellers has a market cap of Rs 58,211 crore. Muthoot Finance 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 Kerala-based stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_Kerala-based_stocks\"><\/span><strong>What are the risks of investing in Kerala-based stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are swings in gold prices, interest rate changes and competition. Companies with strong brands and diversified income handle these better. Federal Bank trades at a PE of 15.47 against an industry PE of 11.94, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Federal_Bank_trading_at_a_PE_of_1547\"><\/span><strong>Why is Federal Bank trading at a PE of 15.47?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Federal Bank&#8217;s PE of 15.47 compares with an industry PE of 11.94. The market is paying a premium for profit growth of 22.90% a year since FY22 and latest-quarter profit growth of 53.42%, which also means the stock is more sensitive if growth slows. Investors in Kerala-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_Muthoot_Finance_Federal_Bank_and_Kalyan_Jewellers\"><\/span><strong>How much do institutions hold in Muthoot Finance, Federal Bank and Kalyan Jewellers?<\/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 22.37% of Muthoot Finance (11.61% and 10.76%), 76.99% of Federal Bank (27.71% and 49.28%) and 28.24% of Kalyan Jewellers (13.83% and 14.41%). Rising institutional holding is a useful signal in Kerala-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 Kerala-based stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Muthoot Finance, Federal Bank and Kalyan Jewellers are the 3 names this list highlights, with market caps of Rs 1,03,780 crore, Rs 83,333 crore and Rs 58,211 crore respectively. Muthoot Finance is notable for the highest return on equity at 28.01%. Federal Bank stands out for the strongest latest-quarter profit growth at 53.42%. Kalyan Jewellers offers the fastest profit growth, 56.69% a year since FY22. These are watchlist names for Kerala-based stocks, not recommendations, so match each one to your own risk profile and time horizon.\"}},{\"@type\":\"Question\",\"name\":\"Is Muthoot Finance a good stock for long-term investors?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Muthoot Finance has a return on equity of 28.01%, a PE of 9.06 against an industry PE of 17.97 and a market cap of Rs 1,03,780 crore. Net profit has compounded at 27.36% a year since FY22, and FY26 revenue rose 54.27% while June 2026 quarter net profit grew 43.08%. Long-term returns in Kerala-based stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.\"}},{\"@type\":\"Question\",\"name\":\"Can Kalyan Jewellers become a multibagger from here?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Kalyan Jewellers has already gained 618.28% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in Kerala-based stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 56.69% a year since FY22, and FY26 revenue rose 42.72%. At a PE of 40.58 against an industry PE of 46.75, valuation should be checked against that growth before investing.\"}},{\"@type\":\"Question\",\"name\":\"What is the market cap of Muthoot Finance, Federal Bank and Kalyan Jewellers?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of 16 October 2026, Muthoot Finance has a market cap of Rs 1,03,780 crore, Federal Bank has a market cap of Rs 83,333 crore and Kalyan Jewellers has a market cap of Rs 58,211 crore. Muthoot Finance 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 Kerala-based stocks.\"}},{\"@type\":\"Question\",\"name\":\"What are the risks of investing in Kerala-based stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"The main risks are swings in gold prices, interest rate changes and competition. Companies with strong brands and diversified income handle these better. Federal Bank trades at a PE of 15.47 against an industry PE of 11.94, so earnings growth needs to hold up.\"}},{\"@type\":\"Question\",\"name\":\"Why is Federal Bank trading at a PE of 15.47?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Federal Bank's PE of 15.47 compares with an industry PE of 11.94. The market is paying a premium for profit growth of 22.90% a year since FY22 and latest-quarter profit growth of 53.42%, which also means the stock is more sensitive if growth slows. Investors in Kerala-based stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.\"}},{\"@type\":\"Question\",\"name\":\"How much do institutions hold in Muthoot Finance, Federal Bank and Kalyan Jewellers?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"As of the latest reported quarter, FII and DII together hold 22.37% of Muthoot Finance (11.61% and 10.76%), 76.99% of Federal Bank (27.71% and 49.28%) and 28.24% of Kalyan Jewellers (13.83% and 14.41%). Rising institutional holding is a useful signal in Kerala-based stocks, though it should be read with earnings trends rather than on its own.\"}}]}<\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>3 top Kerala-based stocks compared on market cap, PE, ROE, growth and institutional holding: Muthoot Finance, Federal Bank and Kalyan Jewellers.<\/p>\n","protected":false},"author":33,"featured_media":316408,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[13347,13346],"class_list":["post-316409","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-kerala-based-sector","tag-kerala-based-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["316408"],"rank_math_title":["Kerala-based Stocks 2026: Muthoot Finance, Federal Bank"],"rank_math_description":["Kerala-based stocks to watch for multibagger potential: Muthoot Finance, Federal Bank and Kalyan Jewellers. Compare market cap, PE, ROE, growth and institutional holding."],"rank_math_focus_keyword":["Kerala-based stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-top-kerala-based-stocks-to-watch-for-future-multibagger-potential-muthoot.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/316409","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=316409"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/316409\/revisions"}],"predecessor-version":[{"id":316410,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/316409\/revisions\/316410"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/316408"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=316409"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=316409"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=316409"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}