BSE 500 Shariah stocks list

BSETheme263 companies

1M
−0.96%
3M
−6.24%
1Y
−8.01%

What the BSE 500 Shariah companies earned

Revenue against the same quarter a year earlier, over today's members that filed both; profit after tax added up over the members that filed the quarter. A quarter fewer than 60% of them filed is left out, and the newest is added once nearly as many have filed it as the one before.

Revenue growth
+21.7%quarter to Jun 2026
Profit
₹1,95,985 Crquarter to Jun 2026
Filed the quarter
262of 262
Median ROCE
16.3%year to Mar 2026

Revenue against the same quarter a year earlier, per cent

4.8Mar 245.4Jun 244.3Sep 245.3Dec 246.1Mar 255.2Jun 259.1Sep 2510Dec 2512Mar 2622Jun 26
Revenue grew against a year earlier in 10 of the 10 quarters shown.

Profit after tax, ₹ crore, added up over the companies that filed

1,77,413Mar 241,62,925Jun 241,47,430Sep 241,70,544Dec 241,91,743Mar 251,94,891Jun 252,59,329Sep 251,84,609Dec 252,22,352Mar 261,95,985Jun 26
Largest profit ₹2,59,329 Cr, quarter to Sep 2025.

The largest companies

The 12 largest companies in the BSE 500 Shariah, each sized by its market cap.

Market cap, ₹ crore

  • Reliance Industries₹15,79,789 Cr
  • Tata Consultancy Services₹8,96,562 Cr
  • Larsen & Toubro₹5,27,945 Cr
  • Infosys₹4,65,281 Cr
  • Hindustan Unilever₹4,36,601 Cr
  • HCL Technologies₹3,80,971 Cr
  • Mahindra & Mahindra₹3,59,380 Cr
  • Maruti Suzuki India₹3,59,236 Cr
  • UltraTech Cement₹3,29,304 Cr
  • Bajaj Auto₹2,85,329 Cr
  • Oil & Natural Gas Corporation₹2,84,050 Cr
  • Bharat Electronics₹2,70,462 Cr

Companies in the BSE 500 Shariah

Largest first, by market cap. 262 of its 263 members are listed here; the rest had no price on the latest trading day.

  • Reliance Industries logoReliance IndustriesRELIANCE · Petroleum Products₹1,167.40+0.81%₹15,79,789 Cr21.108.5%0.51%−22.4%
  • Tata Consultancy Services logoTata Consultancy ServicesTCS · IT - Software₹2,478.00+0.73%₹8,96,562 Cr17.4058.0%4.52%−19.0%
  • Larsen & Toubro logoLarsen & ToubroLT · Construction₹3,837.10+0.94%₹5,27,945 Cr29.609.2%0.99%−3.1%
  • Infosys logoInfosysINFY · IT - Software₹1,146.50+2.08%₹4,65,281 Cr15.1039.9%2.18%−24.1%
  • Hindustan Unilever logoHindustan UnileverHINDUNILVR · Diversified FMCGDemerger₹1,858.20+2.34%₹4,36,601 Cr29.0029.0%2.19%−24.1%
  • HCL Technologies logoHCL TechnologiesHCLTECH · IT - Software₹1,403.90+0.24%₹3,80,971 Cr20.8031.4%4.27%−9.9%
  • Mahindra & Mahindra logoMahindra & MahindraM&M · Automobiles₹2,890.00+0.70%₹3,59,380 Cr19.5013.3%1.14%−18.2%
  • Maruti Suzuki India logoMaruti Suzuki IndiaMARUTI · Automobiles₹11,426.00−1.32%₹3,59,236 Cr26.7012.5%1.23%−29.2%
  • UltraTech Cement logoUltraTech CementULTRACEMCO · Cement & Cement Products₹11,175.00+0.64%₹3,29,304 Cr37.4012.7%2.15%−6.9%
  • Bajaj Auto logoBajaj AutoBAJAJ-AUTO · Automobiles₹10,383.00−0.97%₹2,85,329 Cr21.8023.6%1.44%+14.9%
  • Oil & Natural Gas Corporation logoOil & Natural Gas CorporationONGC · Oil₹225.79+0.40%₹2,84,050 Cr6.5010.0%5.87%−11.7%
  • Bharat Electronics logoBharat ElectronicsBEL · Aerospace & Defense₹370.00+1.83%₹2,70,462 Cr44.0031.7%0.68%−9.1%
  • Divi's Laboratories logoDivi's LaboratoriesDIVISLAB · Pharmaceuticals & Biotechnology₹9,664.00+1.10%₹2,56,549 Cr87.7020.8%0.31%+48.4%
  • Coal India logoCoal IndiaCOALINDIA · Consumable Fuels₹393.10+0.28%₹2,42,257 Cr7.3022.4%6.74%+2.9%
  • Nestle India logoNestle IndiaNESTLEIND · Food Products₹1,188.60+1.76%₹2,29,199 Cr56.2092.5%1.18%−6.6%

About the BSE 500 Shariah

BSE 500 Shariah is the set of Shariah-compliant companies in the BSE 500, so it usually holds fewer than 500. It is capped market capitalization weighted, with no company above 9%, and is maintained by BSE Index Services Pvt. Ltd.

How companies are chosen

The universe is every constituent of the BSE 500, and only common stocks are eligible. Each quarter the universe is screened for Shariah compliance, and the stocks that pass form the index.

The first screen is by business. A company's latest audited financial statements are reviewed, and a company whose core business is alcohol, conventional financial services, gambling, non-halal food, pork, tobacco, vulgar entertainment or narcotics is removed. This covers producing, distributing, trading, advertising and marketing those activities.

The second screen is by accounts. Debt must be below 25% of total assets, and non-permissible revenue, which includes all interest income, must be below 3% of total revenue. The list of compliant stocks comes from ShariahCap LLP, an India-based consulting company that the index provider contracts for this.

How it is weighted

Constituents are weighted by float-adjusted market capitalization, which counts only the shares available to trade freely. No single constituent may carry more than 9% of the index, and the cap is applied at each quarterly rebalancing.

When it is reviewed

The index is rebalanced quarterly, at market open on the Monday following the third Friday of Mar, Jun, Sep and Dec. The reference date for the screens is after market close on the last trading day of Feb, May, Aug and Nov. Prices used for weighting are taken after the close on the Wednesday before the second Friday of the month.

No stocks are added between rebalancings. A company can be deleted in between for events such as a merger, takeover, delisting, suspension or bankruptcy. Each month, companies added to the Graded Surveillance Measure (GSM) list are dropped from the index, effective at market open on the Tuesday following the first Monday. A dropped company must stay off the GSM list for six consecutive months before the rebalancing reference date to be reconsidered.

The accounting screen's revenue limit was lowered from 4% to 3% after the close of 19 Sep 2025. The index moved from monthly to quarterly rebalancing after the close of 31 May 2024.

Base date and value

The index has a base date of 3 Nov 2008 and a base value of 1000. It was launched on 2 May 2013, and is calculated in Indian rupees.

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Companies
263
List last changed
30 Sep 2026
Above 200-day average
87 of 262