{"id":322062,"date":"2026-10-22T09:50:52","date_gmt":"2026-10-22T04:20:52","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=322062"},"modified":"2026-10-22T09:50:52","modified_gmt":"2026-10-22T04:20:52","slug":"midcap-stocks-with-roe-above-20-and-pe-below-30-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/midcap-stocks-with-roe-above-20-and-pe-below-30-to-watch-multibagger-potential\/","title":{"rendered":"4 Midcap Stocks With ROE Above 20 and PE Below 30 to Watch for Future Multibagger Potential: Lupin, Ashok Leyland, Mazagon Dock and Waaree Energies"},"content":{"rendered":"

Lupin Rs 1,964. Ashok Leyland Rs 146.74. Mazagon Dock Rs 1,997.50. Waaree Energies Rs 2,455. Market caps from Rs 71,640 crore to Rs 89,592 crore. Data as of 21 Oct 2026.<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

Lupin, Ashok Leyland, Mazagon Dock and Waaree Energies are the 4 picks in this stocks with ROE above 20 and PE below 30 watchlist, with market caps between Rs 71,640 crore and Rs 89,592 crore. Lupin stands out for the lowest PE of the group at 16.14, while Ashok Leyland offers 16.47% revenue growth in FY26. PE ratios run from 16.14 to 29.72, so compare each one with its industry PE before investing. All figures are as of 21 October 2026.<\/p>\n<\/p><\/div>\n

Stocks with ROE above 20 and PE below 30 to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Lupin, Ashok Leyland, Mazagon Dock and Waaree Energies meet that test, with market caps from Rs 71,640 crore to Rs 89,592 crore and Lupin offering the lowest PE of the group at 16.14. Each of these companies has a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a return on equity above 20 per cent and a PE ratio below 30, and net profit rose in FY26 and in the latest quarter.<\/p>\n

This list covers companies with a market capitalisation between Rs 30,000 crore and Rs 1,00,000 crore and a return on equity above 20 per cent and a PE ratio below 30, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap between Rs 30,000 crore and Rs 1 lakh crore. Investors screening stocks with ROE above 20 and PE below 30 usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 21 October 2026 and are drawn from NSE and BSE data and company filings.<\/p>\n

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