4 Largecap Stocks With PB Between 1 and 3 to Watch for Future Multibagger Potential: LIC, NTPC, Tata Steel and Shriram Finance

Stocks with PB between 1 and 3 to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. LIC, NTPC, Tata Steel and Shriram Finance meet that test, with market caps from Rs 2.04 lakh crore to Rs 4.90 lakh crore and LIC offering the highest return on equity at 32.53%. Each of these companies has a price to book ratio between 1 and 3, a return on equity of at least 10 per cent and profit growth in FY26 and in the latest quarter, and net profit rose in FY26 and in the latest quarter.

This list covers companies with a price to book ratio between 1 and 3, a return on equity of at least 10 per cent and profit growth in FY26 and in the latest quarter, rising profit in FY26 and the latest quarter, market capitalisation above Rs 1,00,000 crore, and complete, verifiable financials, ranked by market capitalisation. Each company has a market cap above Rs 1 lakh crore. Investors screening stocks with PB between 1 and 3 usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 26 October 2026 and are drawn from NSE and BSE data and company filings.

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What Are Stocks With PB Between 1 and 3 and Why Do They Attract Multibagger Interest?

Stocks with PB between 1 and 3 are shares that trade at one to three times book value, a range that keeps the share price close to the value of the assets behind the business. The four here cover life insurance, power generation, steel and consumer finance.

A price to book ratio in this range ties the share price closely to the assets and reserves on the balance sheet. For stocks with PB between 1 and 3, both FY26 and the latest quarter showed growth. Whichever way you read stocks with PB between 1 and 3, the common thread is rising profit backed by complete financial data. Investors researching stocks with PB between 1 and 3 get a fuller picture by reading growth and valuation together. The table below lines up stocks with PB between 1 and 3 on size, growth and valuation, using complete FY26 and latest quarter numbers. Past performance does not guarantee future returns, so use stocks with PB between 1 and 3 as a starting point for your own research.

Stocks With PB Between 1 and 3 at a Glance: Price, Market Cap, PE, ROE and Price to Book

Prices are closing prices as of 26 October 2026. LIC combines the lowest PE of the group, 8.16, with the highest return on equity, 32.53%.

Stock	CMP (Rs)	Market Cap (Rs Cr)	PE	Industry PE	ROE	Price to Book	52-Week Range (Rs)
Life Insurance Corporation of India	380.95	4,89,985	8.16	10.47	32.53%	2.76	360.75 to 468.48
NTPC	300	3,01,859	10.66	21.61	13.31%	1.49	298.00 to 414.40
Tata Steel	169.94	2,17,217	19.29	22.42	10.56%	2.16	160.06 to 224.40
Shriram Finance	825	2,04,495	18.07	17.68	15.21%	1.94	662.25 to 1,153.70

LIC: 93.19% Profit CAGR Since FY22

LIC is India's largest life insurer and one of the biggest institutional investors in the stock market, with a vast agent network across the country. It reported FY26 revenue of Rs 9,90,211.25 crore, up 10.23% year on year, and net profit of Rs 57,453.15 crore, up 18.90%. Net profit has compounded at 93.19% a year since FY22, while revenue has grown 7.96% a year. Operating margin was 5.51% in FY26. The debt-to-equity ratio is 0.00, which keeps interest costs low.

In the June 2026 quarter, revenue rose 6.97% to Rs 2,41,166.45 crore and net profit grew 23.98% to Rs 13,584.25 crore. Domestic institutions raised their holding from 1.36% in September 2025 to 6.17% in September 2026. The stock trades at a PE of 8.16 against an industry PE of 10.47, below the sector average, with a return on equity of 32.53%.

NTPC: Five-Year Gain of 110.40%

NTPC is India'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.

The stock trades at a PE of 10.66 against an industry PE of 21.61, below the sector average, with a return on equity of 13.31%. The dividend yield is 2.89%. 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.

Tata Steel: Market Cap of Rs 2,17,217 Crore

Tata Steel is one of the world's major steel makers, with operations in India, the UK and the Netherlands. It reported FY26 revenue of Rs 2,33,541.72 crore, up 6.12% year on year, and net profit of Rs 10,885.82 crore, up 242.99%. Operating margin was 15.12% in FY26.

In the June 2026 quarter, revenue rose 14.14% to Rs 61,026.97 crore and net profit grew 18.82% to Rs 2,385.24 crore. Domestic institutions raised their holding from 26.25% in June 2025 to 26.62% in June 2026. The stock trades at a PE of 19.29 against an industry PE of 22.42, below the sector average. The dividend yield is 2.30%.

Shriram Finance: 38.64% Profit CAGR Since FY22

Shriram Finance is a major NBFC focused on commercial vehicle, small business and personal loans. It reported FY26 total income of Rs 48,192.65 crore, up 15.13% year on year, and net profit of Rs 10,004.20 crore, up 6.16%. Net profit has compounded at 38.64% a year since FY22, while total income has grown 25.75% a year.

The stock trades at a PE of 18.07 against an industry PE of 17.68, with a return on equity of 15.21%. In the June 2026 quarter, total income rose 16.26% to Rs 13,418.74 crore and net profit grew 59.95% to Rs 3,447.26 crore. The share price has gained 239.61% over five years and 40.91% over the past year. Domestic institutions raised their holding from 18.66% in September 2025 to 19.90% in June 2026.

Stocks With PB Between 1 and 3: Financial Comparison on Growth and Margins

The table compares scale and growth across these stocks with PB between 1 and 3. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.

Stock	Revenue (Rs Cr)	Net Profit (Rs Cr)	Latest Quarter Revenue Growth	Net Profit Growth (YoY)	Latest Quarter Profit Growth
LIC	9,90,211.25	57,453.15	6.97%	18.90%	23.98%
NTPC	1,89,798.56	30,009.98	6.94%	48.19%	12.90%
Tata Steel	2,33,541.72	10,885.82	14.14%	242.99%	18.82%
Shriram Finance	48,192.65	10,004.20	16.26%	6.16%	59.95%

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Institutional Holding in LIC, NTPC, Tata Steel and Shriram Finance

Institutional holding shows who is backing these stocks with PB between 1 and 3 alongside the promoter. The table uses the latest reported quarter for each. Shriram Finance has the deepest institutional backing, with FII and DII together holding 74.67% as of June 2026. Domestic institutions increased their holding over the past year in LIC (from 1.36% to 6.17%), NTPC (from 28.92% to 29.44%), Tata Steel (from 26.25% to 26.62%) and Shriram Finance (from 18.66% to 19.90%).

Stock	Promoter	FII	DII	Public	Quarter
LIC	90.00%	1.55%	6.17%	2.28%	September 2026
NTPC	51.10%	16.30%	29.44%	3.15%	June 2026
Tata Steel	32.95%	19.37%	26.62%	21.06%	June 2026
Shriram Finance	20.30%	54.77%	19.90%	5.04%	June 2026

Risks to Weigh in Stocks With PB Between 1 and 3

Being careful with stocks with PB between 1 and 3 means looking at what can slow the story as well as what can speed it up. Four points matter most:

• Past growth may not repeat.
• Share prices can move sharply in either direction.
• Valuation: Shriram Finance trades at a PE of 18.07 against an industry PE of 17.68, so earnings need to keep growing to support the price.
• Concentration: Holding all 4 names puts the allocation in one sector, so size each position to match your risk appetite.

How to Choose Between Stocks With PB Between 1 and 3

Picking from stocks with PB between 1 and 3 comes down to four checks, applied in order.

1. Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.
2. Compare each PE with the industry PE (10.47 to 22.42) and ask whether the growth rate justifies any gap.
3. Track net profit growth, the operating margin and the return on equity in every quarterly result.
4. Stagger entries across quarters and review institutional holding every reporting season.

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Conclusion

Among stocks with PB between 1 and 3, LIC stands out for the highest return on equity at 32.53%, NTPC for 6.94% revenue growth in the June 2026 quarter, Tata Steel for 6.12% revenue growth in FY26 and Shriram Finance for the biggest five-year price gain at 239.61%. 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 stocks with PB between 1 and 3 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.

Frequently Asked Questions on Stocks With PB Between 1 and 3 to Watch

Which are the best stocks with PB between 1 and 3 to watch for multibagger potential?

Ans. LIC, NTPC, Tata Steel and Shriram Finance are the 4 names this list highlights, with market caps of Rs 4,89,985 crore, Rs 3,01,859 crore, Rs 2,17,217 crore and Rs 2,04,495 crore respectively. LIC is notable for the highest return on equity at 32.53%. NTPC stands out for 6.94% revenue growth in the June 2026 quarter. Tata Steel offers 6.12% revenue growth in FY26. Shriram Finance brings the biggest five-year price gain at 239.61%. These are watchlist names for stocks with PB between 1 and 3, not recommendations, so match each one to your own risk profile and time horizon.

Is LIC a good stock for long-term investors?

Ans. LIC has a return on equity of 32.53%, a PE of 8.16 against an industry PE of 10.47 and a market cap of Rs 4,89,985 crore. Net profit has compounded at 93.19% a year since FY22, and FY26 revenue rose 10.23% while June 2026 quarter net profit grew 23.98%. Long-term returns in stocks with PB between 1 and 3 depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.

Can Shriram Finance become a multibagger from here?

Ans. Shriram Finance has already gained 239.61% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in stocks with PB between 1 and 3 requires earnings to keep growing faster than the market for several years. Net profit has compounded at 38.64% a year since FY22, and FY26 revenue rose 15.13%. At a PE of 18.07 against an industry PE of 17.68, valuation should be checked against that growth before investing.

What is the market cap of LIC, NTPC, Tata Steel and Shriram Finance?

Ans. As of 26 October 2026, LIC has a market cap of Rs 4,89,985 crore, NTPC has a market cap of Rs 3,01,859 crore, Tata Steel has a market cap of Rs 2,17,217 crore and Shriram Finance has a market cap of Rs 2,04,495 crore. All of them qualify as largecaps. 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 stocks with PB between 1 and 3.

What are the risks of investing in stocks with PB between 1 and 3?

Ans. 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. Shriram Finance trades at a PE of 18.07 against an industry PE of 17.68, so earnings growth needs to hold up.

Is LIC trading below its industry PE?

Ans. LIC trades at a PE of 8.16 against an industry PE of 10.47. A lower PE means investors pay less for each rupee of earnings, but it should be read with growth (net profit has compounded at 93.19% a year since FY22 and FY26 revenue rose 10.23%) and balance sheet strength before drawing a conclusion.

How much do institutions hold in LIC, NTPC, Tata Steel and Shriram Finance?

Ans. As of the latest reported quarter, FII and DII together hold 7.72% of LIC (1.55% and 6.17%), 45.74% of NTPC (16.30% and 29.44%), 45.99% of Tata Steel (19.37% and 26.62%) and 74.67% of Shriram Finance (54.77% and 19.90%). Rising institutional holding is a useful signal in stocks with PB between 1 and 3, though it should be read with earnings trends rather than on its own.