{"id":319417,"date":"2026-10-21T11:51:58","date_gmt":"2026-10-21T06:21:58","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=319417"},"modified":"2026-10-21T11:51:58","modified_gmt":"2026-10-21T06:21:58","slug":"near-monopoly-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/","title":{"rendered":"4 Top Near-Monopoly Stocks to Watch for Future Multibagger Potential: MCX, IRCTC, CDSL and CAMS"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>MCX Rs 3,184.50. IRCTC Rs 455.60. CDSL Rs 1,270. CAMS Rs 687.50. Market caps from Rs 17,296 crore to Rs 80,621 crore. Data as of 20 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;\">MCX, IRCTC, CDSL and CAMS are the 4 picks in this near-monopoly stocks watchlist, with market caps between Rs 17,296 crore and Rs 80,621 crore. MCX stands out for the highest return on equity at 46.75%, while IRCTC offers the lowest PE of the group at 26.98. PE ratios run from 26.98 to 57.47, so compare each one with its industry PE before investing. All figures are as of 20 October 2026.<\/p>\n<\/p><\/div>\n<p>Near-monopoly stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. MCX, IRCTC, CDSL and CAMS meet that test, with market caps from Rs 17,296 crore to Rs 80,621 crore and MCX offering the highest return on equity at 46.75%. Each of these companies holds a dominant place in its field, from railway ticketing to commodity trading and market records.<\/p>\n<p>This list covers companies with dominant positions in their fields, rising profit 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 near-monopoly stocks 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.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=near-monopoly-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\/near-monopoly-stocks-to-watch-multibagger-potential\/#What_Are_Near-Monopoly_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are Near-Monopoly Stocks and Why Do They Attract Multibagger Interest?\">What Are Near-Monopoly 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\/near-monopoly-stocks-to-watch-multibagger-potential\/#Near-Monopoly_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"Near-Monopoly Stocks at a Glance: Price, Market Cap, PE and ROE\">Near-Monopoly 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\/near-monopoly-stocks-to-watch-multibagger-potential\/#MCX_7455_Profit_CAGR_Since_FY22\" title=\"MCX: 74.55% Profit CAGR Since FY22\">MCX: 74.55% 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\/near-monopoly-stocks-to-watch-multibagger-potential\/#IRCTC_Return_on_Equity_of_3234\" title=\"IRCTC: Return on Equity of 32.34%\">IRCTC: Return on Equity of 32.34%<\/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\/near-monopoly-stocks-to-watch-multibagger-potential\/#CDSL_Return_on_Equity_of_2327\" title=\"CDSL: Return on Equity of 23.27%\">CDSL: Return on Equity of 23.27%<\/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\/near-monopoly-stocks-to-watch-multibagger-potential\/#CAMS_Return_on_Equity_of_3604\" title=\"CAMS: Return on Equity of 36.04%\">CAMS: Return on Equity of 36.04%<\/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\/near-monopoly-stocks-to-watch-multibagger-potential\/#Near-Monopoly_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"Near-Monopoly Stocks: Financial Comparison on Growth and Margins\">Near-Monopoly 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-8\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_MCX_IRCTC_CDSL_and_CAMS\" title=\"Institutional Holding in MCX, IRCTC, CDSL and CAMS\">Institutional Holding in MCX, IRCTC, CDSL and CAMS<\/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\/near-monopoly-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_Near-Monopoly_Stocks\" title=\"Risks to Weigh in Near-Monopoly Stocks\">Risks to Weigh in Near-Monopoly 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\/near-monopoly-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_Near-Monopoly_Stocks\" title=\"How to Choose Between Near-Monopoly Stocks\">How to Choose Between Near-Monopoly Stocks<\/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\/near-monopoly-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-12\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_Near-Monopoly_Stocks_to_Watch\" title=\"Frequently Asked Questions on Near-Monopoly Stocks to Watch\">Frequently Asked Questions on Near-Monopoly 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-13\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#Which_are_the_best_near-monopoly_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best near-monopoly stocks to watch for multibagger potential?\">Which are the best near-monopoly 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-14\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#Is_MCX_a_good_stock_for_long-term_investors\" title=\"Is MCX a good stock for long-term investors?\">Is MCX 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-15\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#Can_CAMS_become_a_multibagger_from_here\" title=\"Can CAMS become a multibagger from here?\">Can CAMS 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-16\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_MCX_IRCTC_CDSL_and_CAMS\" title=\"What is the market cap of MCX, IRCTC, CDSL and CAMS?\">What is the market cap of MCX, IRCTC, CDSL and CAMS?<\/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\/near-monopoly-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_near-monopoly_stocks\" title=\"What are the risks of investing in near-monopoly stocks?\">What are the risks of investing in near-monopoly stocks?<\/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\/near-monopoly-stocks-to-watch-multibagger-potential\/#Why_is_CDSL_trading_at_a_PE_of_5747\" title=\"Why is CDSL trading at a PE of 57.47?\">Why is CDSL trading at a PE of 57.47?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/univest.in\/blogs-2\/near-monopoly-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_MCX_IRCTC_CDSL_and_CAMS\" title=\"How much do institutions hold in MCX, IRCTC, CDSL and CAMS?\">How much do institutions hold in MCX, IRCTC, CDSL and CAMS?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Near-Monopoly_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are Near-Monopoly Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Near-monopoly stocks are shares of companies that face little direct competition in what they do. IRCTC handles online railway ticketing and catering, MCX is a leading commodity exchange, CDSL is one of the two depositories, and CAMS is a leading mutual fund registrar.<\/p>\n<p>Businesses with high entry barriers usually earn high margins and strong returns on capital. Among near-monopoly stocks, companies that keep growing volumes and profit are the ones investors compare in near-monopoly stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Near-Monopoly_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>Near-Monopoly 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 20 October 2026. IRCTC has the lowest PE of the group at 26.98, while MCX posts the highest return on equity at 46.75%.<\/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\/mcx\/multi-commodity-exchange-of-india-ltd-share-price-today\">Multi Commodity Exchange of India<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,184.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">80,621<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">52.29<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">42.17<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46.75%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.00<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,762.10 to 3,481.40<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/irctc\/indian-railway-catering-and-tourism-corporation-ltd-share-price-today\">Indian Railway Catering and Tourism Corporation<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">455.60<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">37,572<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.98<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27.64<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">32.34%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.02<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">446.50 to 735.75<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/cdsl\/central-depository-services-(india)-ltd-share-price-today\">Central Depository Services (India)<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,270<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">27,024<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">57.47<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">42.42<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.27%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.00<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,116.30 to 1,673.70<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/cams\/computer-age-management-services-ltd-share-price-today\">Computer Age Management Services<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">687.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17,296<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">35.22<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">42.45<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36.04%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.05<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">611.40 to 844.90<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"MCX_7455_Profit_CAGR_Since_FY22\"><\/span><strong>MCX: 74.55% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>MCX is India&#8217;s leading commodity derivatives exchange, where gold, silver, crude oil, natural gas and base metals contracts are traded. It reported FY26 revenue of Rs 2,429.05 crore, up 100.94% year on year, and net profit of Rs 1,331.55 crore, up 137.76%. Net profit has compounded at 74.55% a year since FY22, while revenue has grown 53.87% a year. Operating margin was 76.83% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.<\/p>\n<p>In the June 2026 quarter, revenue rose 85.25% to Rs 751.79 crore and net profit grew 103.47% to Rs 413.44 crore. The share price has gained 720.06% over five years and 69.44% over the past year. Foreign investors raised their holding from 21.69% in June 2025 to 29.84% in June 2026. The stock trades at a PE of 52.29 against an industry PE of 42.17, with a return on equity of 46.75%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"IRCTC_Return_on_Equity_of_3234\"><\/span><strong>IRCTC: Return on Equity of 32.34%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>IRCTC runs online railway ticketing, catering and tourism services linked to Indian Railways. It reported FY26 revenue of Rs 5,475.33 crore, up 11.65% year on year, and net profit of Rs 1,393.45 crore, up 5.97%. Operating margin was 37.26% in FY26. The debt-to-equity ratio is 0.02, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 26.98 against an industry PE of 27.64, below the sector average, with a return on equity of 32.34%. The dividend yield is 1.92%. Revenue for the June 2026 quarter rose 18.05% to Rs 1,441.24 crore, at an operating margin of 33.47%. Domestic institutions raised their holding from 14.18% in September 2025 to 14.56% in September 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CDSL_Return_on_Equity_of_2327\"><\/span><strong>CDSL: Return on Equity of 23.27%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CDSL is one of India&#8217;s two securities depositories and keeps the demat accounts of a large share of the country&#8217;s retail investors. It reported FY26 revenue of Rs 1,238.50 crore, up 3.27% year on year, and net profit of Rs 455.08 crore. Net profit has compounded at 9.91% a year since FY22, while revenue has grown 19.57% a year. Operating margin was 58.99% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.<\/p>\n<p>In the June 2026 quarter, revenue rose 15.37% to Rs 340.50 crore and net profit grew 14.91% to Rs 117.67 crore. The share price has gained 87.22% over five years. Domestic institutions raised their holding from 13.82% in June 2025 to 15.19% in June 2026. The stock trades at a PE of 57.47 against an industry PE of 42.42, with a return on equity of 23.27%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CAMS_Return_on_Equity_of_3604\"><\/span><strong>CAMS: Return on Equity of 36.04%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CAMS is the registrar and transfer agent for a large share of the Indian mutual fund industry. It reported FY26 revenue of Rs 1,567.42 crore, up 6.26% year on year, and net profit of Rs 472.02 crore, up 1.58%. Net profit has compounded at 13.25% a year since FY22, while revenue has grown 14.03% a year. Operating margin was 48.43% in FY26. The debt-to-equity ratio is 0.05, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 35.22 against an industry PE of 42.45, below the sector average, with a return on equity of 36.04%. The dividend yield is 1.79%. In the June 2026 quarter, revenue rose 12.06% to Rs 411.61 crore and net profit grew 17.64% to Rs 127.10 crore. Domestic institutions raised their holding from 17.31% in June 2025 to 23.54% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Near-Monopoly_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>Near-Monopoly 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 near-monopoly 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;\">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;\">MCX<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,429.05<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,331.55<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">100.94%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">85.25%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">77.49%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">IRCTC<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5,475.33<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,393.45<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.65%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.05%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">33.47%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">CDSL<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,238.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">455.08<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3.27%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.37%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">63.50%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">CAMS<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,567.42<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">472.02<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.26%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.06%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">50.40%<\/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 near-monopoly stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_MCX_IRCTC_CDSL_and_CAMS\"><\/span><strong>Institutional Holding in MCX, IRCTC, CDSL and CAMS<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these near-monopoly stocks alongside the promoter. The table uses the latest reported quarter for each. MCX has the deepest institutional backing, with FII and DII together holding 80.65% as of June 2026. Domestic institutions increased their holding over the past year in IRCTC (from 14.18% to 14.56%), CDSL (from 13.82% to 15.19%) and CAMS (from 17.31% to 23.54%).<\/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;\">MCX<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Nil<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">29.84%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">50.81%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.34%<\/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;\">IRCTC<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">62.40%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3.46%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.56%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.58%<\/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;\">CDSL<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.00%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.24%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.19%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">61.57%<\/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;\">CAMS<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Nil<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">44.88%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">23.54%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">31.57%<\/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_Near-Monopoly_Stocks\"><\/span><strong>Risks to Weigh in Near-Monopoly Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with near-monopoly 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>Regulatory changes can affect fees and rules.<\/li>\n<li>Earnings can follow market activity.<\/li>\n<li><strong>Valuation:<\/strong> CDSL trades at a PE of 57.47 against an industry PE of 42.42, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 4 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_Near-Monopoly_Stocks\"><\/span><strong>How to Choose Between Near-Monopoly Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from near-monopoly 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 (27.64 to 42.45) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track the operating margin, the return on equity and net profit growth 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 MCX, IRCTC, CDSL and CAMS 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 near-monopoly stocks, MCX stands out for the highest return on equity at 46.75%, IRCTC for the lowest PE of the group at 26.98, CDSL for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.00 and CAMS for a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.05. 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 near-monopoly 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_Near-Monopoly_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on Near-Monopoly Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_near-monopoly_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best near-monopoly stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> MCX, IRCTC, CDSL and CAMS are the 4 names this list highlights, with market caps of Rs 80,621 crore, Rs 37,572 crore, Rs 27,024 crore and Rs 17,296 crore respectively. MCX is notable for the highest return on equity at 46.75%. IRCTC stands out for the lowest PE of the group at 26.98. CDSL offers a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.00. CAMS brings a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.05. These are watchlist names for near-monopoly 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_MCX_a_good_stock_for_long-term_investors\"><\/span><strong>Is MCX a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> MCX has a return on equity of 46.75%, a PE of 52.29 against an industry PE of 42.17 and a market cap of Rs 80,621 crore. Net profit has compounded at 74.55% a year since FY22, and FY26 revenue rose 100.94% while June 2026 quarter net profit grew 103.47%. Long-term returns in near-monopoly 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_CAMS_become_a_multibagger_from_here\"><\/span><strong>Can CAMS become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CAMS has a market cap of Rs 17,296 crore. A multibagger outcome in near-monopoly stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 13.25% a year since FY22, and FY26 revenue rose 6.26%. At a PE of 35.22 against an industry PE of 42.45, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_MCX_IRCTC_CDSL_and_CAMS\"><\/span><strong>What is the market cap of MCX, IRCTC, CDSL and CAMS?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 20 October 2026, MCX has a market cap of Rs 80,621 crore, IRCTC has a market cap of Rs 37,572 crore, CDSL has a market cap of Rs 27,024 crore and CAMS has a market cap of Rs 17,296 crore. MCX 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 near-monopoly stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_near-monopoly_stocks\"><\/span><strong>What are the risks of investing in near-monopoly stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are regulatory changes, new rivals and swings in market activity. Companies with recurring income and strong margins handle these better. CDSL trades at a PE of 57.47 against an industry PE of 42.42, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_CDSL_trading_at_a_PE_of_5747\"><\/span><strong>Why is CDSL trading at a PE of 57.47?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> CDSL&#8217;s PE of 57.47 compares with an industry PE of 42.42. The market is paying a premium for a return on equity of 23.27% and latest-quarter profit growth of 14.91%, which also means the stock is more sensitive if growth slows. Investors in near-monopoly 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_MCX_IRCTC_CDSL_and_CAMS\"><\/span><strong>How much do institutions hold in MCX, IRCTC, CDSL and CAMS?<\/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 80.65% of MCX (29.84% and 50.81%), 18.02% of IRCTC (3.46% and 14.56%), 23.43% of CDSL (8.24% and 15.19%) and 68.42% of CAMS (44.88% and 23.54%). Rising institutional holding is a useful signal in near-monopoly 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 near-monopoly stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"MCX, IRCTC, CDSL and CAMS are the 4 names this list highlights, with market caps of Rs 80,621 crore, Rs 37,572 crore, Rs 27,024 crore and Rs 17,296 crore respectively. MCX is notable for the highest return on equity at 46.75%. IRCTC stands out for the lowest PE of the group at 26.98. CDSL offers a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.00. CAMS brings a nearly debt-free balance sheet, with a debt-to-equity ratio of 0.05. 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