Is Bank of Maharashtra the Best Stock in Its Sector? A Look at the Numbers

Bank of Maharashtra CMP Rs 83 (15 Sep 2026). Market cap Rs 64,740 Cr. ROE 22.24%. P/E 8.59x versus Industry P/E 12.21x.

Updated: 15 Sept 2026 • 10:44 am

Posted by:

Is Bank of Maharashtra the Best Stock in Its Sector? A Look at the Numbers

Quick Answer

Bank of Maharashtra is one of the names investors compare when screening the Bank sector, built on a 22.24% return on equity and a P/E of 8.59x against an Industry P/E of 12.21x. Bank of Maharashtra is a public sector bank with a strong base in Maharashtra, offering retail, corporate and agricultural banking services through a large branch network across India. Whether Bank of Maharashtra is the best stock in its sector depends on whether an investor is optimising for return ratios, valuation, or both. This article breaks down the metrics, including a comparison against named Bank sector peers, so you can judge that for yourself.

Is Bank of Maharashtra the best stock in its sector? The stock trades on the NSE at Rs 83 as of 15 September 2026, within its 52-week range of Rs 53.52 to Rs 94.50. Bank of Maharashtra is a public sector bank with a strong base in Maharashtra, offering retail, corporate and agricultural banking services through a large branch network across India.

Bank of Maharashtra sits in the Bank sector, and its 22.24% ROE and 8.59x P/E give a starting point for judging where it stands against comparable listed names. The rest of this article compares those numbers against verified peers and the sector’s Industry P/E benchmark.

Click Here – Get Free Investment Predictions

Table of Contents

About Bank of Maharashtra

Bank of Maharashtra is a public sector bank with a strong base in Maharashtra, offering retail, corporate and agricultural banking services through a large branch network across India. At a market capitalisation of Rs 64,740 Cr, it is tracked as part of the Bank sector on Univest.

Is Bank of Maharashtra the Best Stock in Its Sector?

Bank of Maharashtra makes its case as the best stock in its sector primarily on return on equity and balance sheet strength, combining a 22.24% ROE with a 8.59x P/E against the sector’s 12.21x Industry P/E. Bank of Maharashtra’s 22.24% ROE is the strongest in this PSU bank comparison, yet its 8.59x P/E trails the Industry P/E, making it look inexpensive relative to its own return profile and peers.

Metric	Bank of Maharashtra
CMP (NSE)	Rs 83.30
52-Week High / Low	Rs 94.50 / Rs 53.52
Market Cap	Rs 64,740 Cr
P/E (TTM) vs Industry P/E	8.59x vs 12.21x
P/B	1.91
ROE	22.24%
EPS (TTM)	Rs 9.80
Dividend Yield	1.43%

Debt to equity is not shown for banks; leverage for lenders is better assessed through the P/B ratio shown above.

Compare Bank of Maharashtra Against Other Bank Sector Stocks

How Bank of Maharashtra Compares Against Its Bank Sector Peers

The table below sets Bank of Maharashtra against 3 other Bank sector names, using the same live data source for every company. A peer average row is included for P/E, ROE, calculated across the 3 peer companies.

Company	Market Cap (Rs Cr)	P/E	ROE	Debt to Equity
Bank of Maharashtra	64,740	8.59	22.24%	–
Canara Bank	1,12,385	5.67	16.94%	–
Indian Overseas Bank	63,797	10.72	16.78%	–
UCO Bank	30,070	10.66	9.12%	–
Peer average (3 companies)	–	9.02	14.28%	–

Against this peer set, Bank of Maharashtra’s 22.24% ROE is above the 14.28% peer average, and its P/E of 8.59x runs below the peer average of 9.02x. Bank of Maharashtra’s 22.24% ROE is the strongest in this PSU bank comparison, yet its 8.59x P/E trails the Industry P/E, making it look inexpensive relative to its own return profile and peers.

What Makes Bank of Maharashtra Worth Watching in Bank

Highest ROE among PSU peers compared: A 22.24% ROE is well ahead of the PSU bank peers compared here, a standout figure for a public sector lender.
Below-industry P/E despite strong ROE: An 8.59x P/E against a 12.21x Industry P/E means the market has not yet fully re-rated the bank for its return profile.
Leverage assessed via P/B for banks: As with all banks, debt to equity is not a meaningful metric here; the 1.91x P/B better reflects the market’s view of balance sheet quality.

Bank of Maharashtra Valuation: Is It Justified?

Bank of Maharashtra’s 22.24% ROE is the strongest in this PSU bank comparison, yet its 8.59x P/E trails the Industry P/E, making it look inexpensive relative to its own return profile and peers. As with any single stock, investors should weigh this against their own valuation discipline and risk appetite rather than the sector label alone.

Download the Univest iOS App or Univest Android App to track Bank of Maharashtra and other Bank sector stocks.

How to Track Bank of Maharashtra Before You Invest

Before deciding whether Bank of Maharashtra deserves its label as the best stock in its sector for your own portfolio, compare it directly against Bank sector peers using the steps below.

Open the Univest Screener and search for Bank of Maharashtra to view live price, valuation ratios, and peer comparisons within the Bank sector.
Compare its P/E, P/B, and ROE against other Bank sector stocks before deciding if the current valuation fits your strategy.
Set a price alert around key support and resistance zones using the Univest app so you are notified of meaningful moves.
Open a broking account on Univest if you decide to add the stock, and size the position based on your own risk appetite and portfolio allocation.

Conclusion

Bank of Maharashtra earns a place in the best stock in its sector conversation on the strength of a 22.24% ROE and a P/E of 8.59x against a 12.21x Industry P/E, with named peer comparisons in this article backing up that picture. As with any individual stock decision, this analysis is educational and investors should do their own research or consult a SEBI-registered advisor before investing.

Disclaimer: 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).

Is Bank of Maharashtra the best stock in its sector?

Ans. Bank of Maharashtra has a 22.24% ROE and trades at 8.59x P/E against a 12.21x Industry P/E, and compares above the peer average ROE of 14.28% in this article’s named comparison, so the answer depends on what an investor is prioritising.

What is the current share price of Bank of Maharashtra?

Ans. Bank of Maharashtra was trading at Rs 83.30 on the NSE as of 15 September 2026, within its 52-week range of Rs 53.52 to Rs 94.50.

What sector does Bank of Maharashtra belong to?

Ans. Bank of Maharashtra is classified under the Bank sector on Univest.

How does Bank of Maharashtra compare to its sector peers on P/E?

Ans. Bank of Maharashtra’s P/E of 8.59x is below the 9.02x average of the 3 named peers compared in this article.

What is Bank of Maharashtra’s return on equity?

Ans. Bank of Maharashtra reported a return on equity of 22.24%, which is above the 14.28% average of its named peers in this comparison.

Should I invest in Bank of Maharashtra based on its sector position?

Ans. Bank of Maharashtra’s sector position and metrics make it worth researching further, but any investment decision should factor in your own risk appetite, its valuation relative to peers, and independent research or advice from a SEBI-registered advisor.