Buy, Sell Or Hold: Reliance Industries, Tata Consultancy Services, Infosys, HDFC Bank, ICICI Bank — Analyst Forecast

Updated: 23 Sept 2026 • 5:22 pm

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Analyst Forecast

Sector Snapshot (23 September 2026)

Stock	LTP (Rs)	52W High	52W Low	P/E vs Industry	ROE	Our View
Reliance Industries	1,248.00	1,611.80	1,226.40	19.06 / 16.15	8.94%	Hold
Tata Consultancy Services	2,089.60	3,350.00	1,976.80	15.22 / 17.80	45.89%	Buy on Dips
Infosys	1,020.50	1,728.00	982.40	13.78 / 17.80	33.24%	Buy on Dips
HDFC Bank	737.25	1,020.50	681.90	13.81 / 12.22	13.14%	Hold
ICICI Bank	1,340.00	1,480.00	1,187.55	16.09 / 12.22	15.00%	Hold

Quick Answer

Tata Consultancy Services and Infosys are the standouts among these bluechip stocks, both trading near their 52-week lows at valuations below the IT services industry average while posting exceptional return on equity above 33%. Reliance Industries carries the weakest return on equity in this group at a slightly rich valuation, while HDFC Bank and ICICI Bank both look fairly to fully valued relative to the banking industry average.

India's largest, most widely held companies span energy, IT services and banking, and even among this group of household names, valuation and profitability can diverge sharply. This piece checks five bluechip stocks on where they stand today.

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Table of Contents

Reliance Industries: Hold

Reliance Industries is at Rs 1,248.00, close to its 52-week low of Rs 1,226.40 and down close to 23% from its high of Rs 1,611.80. It trades at a price-to-earnings ratio of 19.06, modestly above the industry average of 16.15, while its return on equity of 8.94% is the weakest in this group. Despite trading near its lows, the current profitability does not yet justify the premium, which keeps this in hold territory.

Tata Consultancy Services: Buy on Dips

Tata Consultancy Services has corrected sharply to Rs 2,089.60, down close to 38% from its 52-week high of Rs 3,350.00 and right near its low of Rs 1,976.80. It stands out with a price-to-earnings ratio of just 15.22, below the industry average of 17.80, while posting an exceptional return on equity of 45.89%, the strongest in this group by a wide margin. That combination of a cheap valuation, outstanding profitability and a stock near its lows makes it one of the more compelling bluechip stocks to accumulate on dips.

Infosys: Buy on Dips

Infosys is at Rs 1,020.50, down close to 41% from its 52-week high of Rs 1,728.00 and just above its low of Rs 982.40. It trades at a price-to-earnings ratio of 13.78, well below the industry average of 17.80, with a strong return on equity of 33.24%. Like TCS, that mix of a discounted valuation, strong profitability and a stock near its 52-week low makes it one of the more attractive bluechip stocks to watch for accumulation.

HDFC Bank: Hold

HDFC Bank trades at Rs 737.25, down close to 28% from its 52-week high of Rs 1,020.50 and near its low of Rs 681.90. It posts a price-to-earnings ratio of 13.81, modestly above the banking industry average of 12.22, with a return on equity of 13.14%. There is nothing alarming here, but nothing that separates it from a straightforward hold either at current levels.

ICICI Bank: Hold

ICICI Bank is at Rs 1,340.00, down about 9% from its 52-week high of Rs 1,480.00. It posts a healthy return on equity of 15.00%, but its price-to-earnings ratio of 16.09 is the richest among the banks in this group, well above the industry average of 12.22. That premium already reflects much of the bank's strong profitability, keeping this in hold territory.

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What Ties These Bluechip Stocks Together

Across these bluechip stocks, Tata Consultancy Services and Infosys currently stand out for combining below-industry valuations with exceptional return on equity, both trading close to their 52-week lows after sharp IT sector corrections. Reliance Industries' weaker return on equity at a slightly rich valuation, and the two banks' fuller multiples relative to their profitability, keep them in hold territory by comparison. Global IT spending trends, crude oil and refining margins, and credit growth can all move these numbers from one quarter to the next.

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Conclusion

Bluechip stocks in India currently show Tata Consultancy Services and Infosys as the standout picks among these bluechip stocks, both trading near their 52-week lows at cheap valuations with exceptional profitability, while Reliance Industries, HDFC Bank and ICICI Bank are more reasonable holds for now. As always, treat this as a starting point rather than a final word.

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Stock market investments are subject to market risks. Please verify all data independently and consult a SEBI-registered investment adviser before making any investment decisions. Univest Financial Services Private Limited, SEBI Registered Investment Adviser, Registration No. INH000013776.

Frequently Asked Questions

A few common questions on these bluechip stocks, answered briefly below for quick reference on this bluechip stocks basket.

Which bluechip stocks look attractive right now?

Tata Consultancy Services and Infosys currently show the most favourable combination of a below-industry valuation and exceptional return on equity among the names covered here, both trading near their 52-week lows.

Why has TCS corrected so sharply?

Tata Consultancy Services is down close to 38% from its 52-week high amid broader pressure on IT services stocks, but its return on equity of 45.89% remains the strongest in this group, which is why the correction is viewed as a buying opportunity rather than a red flag.

Is Reliance Industries a good buy near its 52-week low?

Reliance Industries trades close to its 52-week low, but its return on equity of 8.94% is the weakest among these bluechip stocks, which is why the price weakness alone does not make it a clear buy.

Why does ICICI Bank trade at a premium to HDFC Bank?

ICICI Bank posts a higher return on equity than HDFC Bank, at 15.00% versus 13.14%, which has led the market to price it at a richer valuation relative to the banking industry average.

Is Infosys cheaper than TCS?

Yes, Infosys trades at a price-to-earnings ratio of 13.78 against TCS's 15.22, both below the IT services industry average of 17.80, though TCS posts the higher return on equity of the two.

Where can I track these bluechip stocks in real time?

You can track live prices, set price alerts, and follow quarterly results for Reliance Industries, Tata Consultancy Services, Infosys, HDFC Bank and ICICI Bank using the Univest iOS App and Univest Android App.