{"id":325017,"date":"2026-10-23T09:15:25","date_gmt":"2026-10-23T03:45:25","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=325017"},"modified":"2026-10-23T09:15:25","modified_gmt":"2026-10-23T03:45:25","slug":"cpse-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/cpse-stocks-to-watch-multibagger-potential\/","title":{"rendered":"4 Top CPSE Stocks to Watch for Future Multibagger Potential: NTPC, BHEL, NHPC and Oil India"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>NTPC Rs 302.60. BHEL Rs 398.90. NHPC Rs 72.38. Oil India Rs 456.90. Market caps from Rs 72,750 crore to Rs 3.04 lakh crore. Data as of 22 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;\">NTPC, BHEL, NHPC and Oil India are the 4 picks in this CPSE stocks watchlist, with market caps between Rs 72,750 crore and Rs 3.04 lakh crore. NTPC stands out for the largest market cap at Rs 3,04,475 crore, while BHEL offers the fastest profit growth, 37.73% a year since FY22. PE ratios run from 7.63 to 52.56, so compare each one with its industry PE before investing. All figures are as of 22 October 2026.<\/p>\n<\/p><\/div>\n<p>CPSE stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. NTPC, BHEL, NHPC and Oil India meet that test, with market caps from Rs 72,750 crore to Rs 3.04 lakh crore and NTPC offering the largest market cap at Rs 3,04,475 crore. Each of these companies has ownership as a central public sector enterprise, and net profit rose in FY26 and in the latest quarter.<\/p>\n<p>This list covers companies with ownership as a central public sector enterprise, rising profit in FY26 and the latest quarter, and complete, verifiable financials, ranked by market capitalisation. The companies here range from midcaps to largecaps in size. Investors screening CPSE stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 22 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=cpse-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\/cpse-stocks-to-watch-multibagger-potential\/#What_Are_CPSE_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are CPSE Stocks and Why Do They Attract Multibagger Interest?\">What Are CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#CPSE_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"CPSE Stocks at a Glance: Price, Market Cap, PE and ROE\">CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#NTPC_Five-Year_Gain_of_11040\" title=\"NTPC: Five-Year Gain of 110.40%\">NTPC: Five-Year Gain of 110.40%<\/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\/cpse-stocks-to-watch-multibagger-potential\/#BHEL_3773_Profit_CAGR_Since_FY22\" title=\"BHEL: 37.73% Profit CAGR Since FY22\">BHEL: 37.73% 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\/cpse-stocks-to-watch-multibagger-potential\/#NHPC_Five-Year_Gain_of_10408\" title=\"NHPC: Five-Year Gain of 104.08%\">NHPC: Five-Year Gain of 104.08%<\/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\/cpse-stocks-to-watch-multibagger-potential\/#Oil_India_Quarterly_Profit_Up_9677\" title=\"Oil India: Quarterly Profit Up 96.77%\">Oil India: Quarterly Profit Up 96.77%<\/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\/cpse-stocks-to-watch-multibagger-potential\/#CPSE_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"CPSE Stocks: Financial Comparison on Growth and Margins\">CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_NTPC_BHEL_NHPC_and_Oil_India\" title=\"Institutional Holding in NTPC, BHEL, NHPC and Oil India\">Institutional Holding in NTPC, BHEL, NHPC and Oil India<\/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\/cpse-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_CPSE_Stocks\" title=\"Risks to Weigh in CPSE Stocks\">Risks to Weigh in CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_CPSE_Stocks\" title=\"How to Choose Between CPSE Stocks\">How to Choose Between CPSE 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\/cpse-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\/cpse-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_CPSE_Stocks_to_Watch\" title=\"Frequently Asked Questions on CPSE Stocks to Watch\">Frequently Asked Questions on CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#Which_are_the_best_CPSE_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best CPSE stocks to watch for multibagger potential?\">Which are the best CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#Is_NTPC_a_good_stock_for_long-term_investors\" title=\"Is NTPC a good stock for long-term investors?\">Is NTPC 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\/cpse-stocks-to-watch-multibagger-potential\/#Can_BHEL_become_a_multibagger_from_here\" title=\"Can BHEL become a multibagger from here?\">Can BHEL 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\/cpse-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_NTPC_BHEL_NHPC_and_Oil_India\" title=\"What is the market cap of NTPC, BHEL, NHPC and Oil India?\">What is the market cap of NTPC, BHEL, NHPC and Oil India?<\/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\/cpse-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_CPSE_stocks\" title=\"What are the risks of investing in CPSE stocks?\">What are the risks of investing in CPSE 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\/cpse-stocks-to-watch-multibagger-potential\/#Is_Oil_India_trading_below_its_industry_PE\" title=\"Is Oil India trading below its industry PE?\">Is Oil India trading below its industry PE?<\/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\/cpse-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_NTPC_BHEL_NHPC_and_Oil_India\" title=\"How much do institutions hold in NTPC, BHEL, NHPC and Oil India?\">How much do institutions hold in NTPC, BHEL, NHPC and Oil India?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_CPSE_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are CPSE Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>CPSE stocks are shares of companies controlled by the Government of India. The four here cover power generation, heavy electrical equipment, hydropower and oil exploration.<\/p>\n<p>Government-owned companies often pay regular dividends and benefit from public spending. For CPSE stocks, rising profit adds to the case. Investors researching CPSE stocks get a fuller picture by reading growth and valuation together. The table below lines up CPSE stocks on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use CPSE stocks as a starting point for your own research.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CPSE_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>CPSE 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 22 October 2026. Oil India has the lowest PE of the group at 7.63, while NTPC posts the highest return on equity at 13.31%.<\/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\/ntpc\/ntpc-ltd-share-price-today\">NTPC<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">302.60<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,04,475<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10.75<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.61<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.31%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1.33<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">302.60 to 414.40<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/bhel\/bharat-heavy-electricals-ltd-share-price-today\">Bharat Heavy Electricals<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">398.90<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,51,365<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">52.56<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">45.89<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10.76%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.23<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">229.54 to 464.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/nhpc\/nhpc-ltd-share-price-today\">NHPC<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">72.38<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">72,907<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.08<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">22.18<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.09%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1.26<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">70.25 to 87.81<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/oil\/oil-india-ltd-share-price-today\">Oil India<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">456.90<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">72,750<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.63<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.16<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.41%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.65<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">395.60 to 531.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"NTPC_Five-Year_Gain_of_11040\"><\/span><strong>NTPC: Five-Year Gain of 110.40%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>NTPC is India&#8217;s largest power generation company and is growing its renewable energy portfolio. It reported FY26 revenue of Rs 1,89,798.56 crore and net profit of Rs 30,009.98 crore, up 48.19%. Net profit has compounded at 18.01% a year since FY22, while revenue has grown 8.89% a year. Operating margin was 32.45% in FY26.<\/p>\n<p>In the June 2026 quarter, revenue rose 6.94% to Rs 51,141.51 crore and net profit grew 12.90% to Rs 6,896.44 crore. The share price has gained 110.40% over five years. Domestic institutions raised their holding from 28.92% in June 2025 to 29.44% in June 2026. The stock trades at a PE of 10.75 against an industry PE of 21.61, below the sector average, with a return on equity of 13.31%. The dividend yield is 2.87%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"BHEL_3773_Profit_CAGR_Since_FY22\"><\/span><strong>BHEL: 37.73% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Bharat Heavy Electricals is a government-owned maker of power generation, transmission, industrial and transportation equipment. It reported FY26 revenue of Rs 34,589.83 crore, up 20.08% year on year, and net profit of Rs 1,600.26 crore, up 199.73%. Net profit has compounded at 37.73% a year since FY22, while revenue has grown 12.54% a year. Operating margin was 10.18% in FY26. The debt-to-equity ratio is 0.23.<\/p>\n<p>The stock trades at a PE of 52.56 against an industry PE of 45.89. In the September 2026 quarter, revenue rose 24.28% to Rs 9,553.01 crore and net profit grew 118.98% to Rs 820.94 crore. The share price has gained 488.34% over five years and 86.13% over the past year. Domestic institutions raised their holding from 18.62% in September 2025 to 21.88% in September 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"NHPC_Five-Year_Gain_of_10408\"><\/span><strong>NHPC: Five-Year Gain of 104.08%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>NHPC is a government-owned hydropower company that is also adding solar and wind capacity. It reported FY26 revenue of Rs 12,686.09 crore, up 9.23% year on year, and net profit of Rs 3,237.10 crore, up 3.28%. Revenue has compounded at 5.84% a year since FY22. Operating margin was 62.61% in FY26.<\/p>\n<p>In the June 2026 quarter, revenue rose 15.02% to Rs 3,959.72 crore and net profit grew 4.15% to Rs 1,178.09 crore. The share price has gained 104.08% over five years. Domestic institutions raised their holding from 10.55% in September 2025 to 14.27% in September 2026. The stock trades at a PE of 17.08 against an industry PE of 22.18, below the sector average. The dividend yield is 2.22%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Oil_India_Quarterly_Profit_Up_9677\"><\/span><strong>Oil India: Quarterly Profit Up 96.77%<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Oil India is a government-owned oil and gas exploration and production company with operations in Assam, Rajasthan and overseas blocks. It reported FY26 revenue of Rs 35,877.28 crore, up 4.97% year on year, and net profit of Rs 7,550.67 crore, up 7.26%. Revenue has compounded at 7.32% a year since FY22. Operating margin was 36.43% in FY26.<\/p>\n<p>The stock trades at a PE of 7.63 against an industry PE of 7.16. The dividend yield is 2.57%. In the June 2026 quarter, revenue rose 46.98% to Rs 13,236.10 crore and net profit grew 96.77% to Rs 4,026.83 crore. The share price has gained 183.64% over five years. Domestic institutions raised their holding from 18.41% in June 2025 to 20.14% in June 2026.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"CPSE_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>CPSE 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 CPSE 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;\">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;\">Net Profit Growth (YoY)<\/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;\">NTPC<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,89,798.56<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">30,009.98<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">8.89%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">6.94%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">48.19%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">35.04%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">BHEL<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34,589.83<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,600.26<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12.54%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.28%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">199.73%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.94%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">NHPC<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">12,686.09<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3,237.10<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5.84%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.02%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3.28%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">72.45%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Oil India<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">35,877.28<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7,550.67<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.32%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46.98%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.26%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">49.06%<\/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 CPSE stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_NTPC_BHEL_NHPC_and_Oil_India\"><\/span><strong>Institutional Holding in NTPC, BHEL, NHPC and Oil India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these CPSE stocks alongside the promoter. The table uses the latest reported quarter for each. NTPC has the deepest institutional backing, with FII and DII together holding 45.74% as of June 2026. Domestic institutions increased their holding over the past year in NTPC (from 28.92% to 29.44%), BHEL (from 18.62% to 21.88%), NHPC (from 10.55% to 14.27%) and Oil India (from 18.41% to 20.14%).<\/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;\">NTPC<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">51.10%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.30%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">29.44%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">3.15%<\/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;\">BHEL<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">58.17%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.94%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">21.88%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">10.02%<\/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;\">NHPC<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">61.39%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">13.17%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">14.27%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.17%<\/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;\">Oil India<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">56.66%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.28%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.14%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.93%<\/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_CPSE_Stocks\"><\/span><strong>Risks to Weigh in CPSE Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with CPSE 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>Past growth may not repeat.<\/li>\n<li>Share prices can move sharply in either direction.<\/li>\n<li><strong>Valuation:<\/strong> BHEL trades at a PE of 52.56 against an industry PE of 45.89, 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_CPSE_Stocks\"><\/span><strong>How to Choose Between CPSE Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from CPSE 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 (7.16 to 45.89) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track net profit 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 NTPC, BHEL, NHPC and Oil India 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 CPSE stocks, NTPC stands out for the largest market cap at Rs 3,04,475 crore, BHEL for the fastest profit growth, 37.73% a year since FY22, NHPC for 9.23% revenue growth in FY26 and Oil India for the lowest PE of the group at 7.63. 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 CPSE 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_CPSE_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on CPSE Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_CPSE_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best CPSE stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NTPC, BHEL, NHPC and Oil India are the 4 names this list highlights, with market caps of Rs 3,04,475 crore, Rs 1,51,365 crore, Rs 72,907 crore and Rs 72,750 crore respectively. NTPC is notable for the largest market cap at Rs 3,04,475 crore. BHEL stands out for the fastest profit growth, 37.73% a year since FY22. NHPC offers 9.23% revenue growth in FY26. Oil India brings the lowest PE of the group at 7.63. These are watchlist names for CPSE 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_NTPC_a_good_stock_for_long-term_investors\"><\/span><strong>Is NTPC a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> NTPC has a return on equity of 13.31%, a PE of 10.75 against an industry PE of 21.61 and a market cap of Rs 3,04,475 crore. Net profit has compounded at 18.01% a year since FY22, and June 2026 quarter net profit grew 12.90%. Long-term returns in CPSE 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_BHEL_become_a_multibagger_from_here\"><\/span><strong>Can BHEL become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> BHEL has already gained 488.34% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in CPSE stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 37.73% a year since FY22, and FY26 revenue rose 20.08%. At a PE of 52.56 against an industry PE of 45.89, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_NTPC_BHEL_NHPC_and_Oil_India\"><\/span><strong>What is the market cap of NTPC, BHEL, NHPC and Oil India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 22 October 2026, NTPC has a market cap of Rs 3,04,475 crore, BHEL has a market cap of Rs 1,51,365 crore, NHPC has a market cap of Rs 72,907 crore and Oil India has a market cap of Rs 72,750 crore. NTPC 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 CPSE stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_CPSE_stocks\"><\/span><strong>What are the risks of investing in CPSE stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are market swings, slower growth than expected and valuations that already reflect good news. Companies with strong balance sheets and steady earnings handle these better. BHEL trades at a PE of 52.56 against an industry PE of 45.89, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Oil_India_trading_below_its_industry_PE\"><\/span><strong>Is Oil India trading below its industry PE?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Oil India trades at a PE of 7.63 against an industry PE of 7.16. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (FY26 revenue rose 4.97% and June 2026 quarter net profit grew 96.77%) and balance sheet strength before drawing a conclusion.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_NTPC_BHEL_NHPC_and_Oil_India\"><\/span><strong>How much do institutions hold in NTPC, BHEL, NHPC and Oil India?<\/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 45.74% of NTPC (16.30% and 29.44%), 31.82% of BHEL (9.94% and 21.88%), 27.44% of NHPC (13.17% and 14.27%) and 27.42% of Oil India (7.28% and 20.14%). Rising institutional holding is a useful signal in CPSE 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 CPSE stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"NTPC, BHEL, NHPC and Oil India are the 4 names this list highlights, with market caps of Rs 3,04,475 crore, Rs 1,51,365 crore, Rs 72,907 crore and Rs 72,750 crore respectively. NTPC is notable for the largest market cap at Rs 3,04,475 crore. BHEL stands out for the fastest profit growth, 37.73% a year since FY22. NHPC offers 9.23% revenue growth in FY26. Oil India brings the lowest PE of the group at 7.63. 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