BSE Bharat 22 Index stocks list
BSETheme22 companies
- P/EPrice to earnings of an index. The index's P/E as the exchange publishes it with the close: its members' market value divided by their profit over the last twelve months, each member counted as the index weighs it. Price to earnings of an index: how it is worked out
- 12.33
- P/BPrice to book of an index. The index's P/B as the exchange publishes it: its members' market value divided by their net worth, the assets they own less everything they owe.
- 2.51
- Dividend yieldDividend yield of an index. The index's dividend yield as the exchange publishes it: dividends its members paid over the last twelve months as a percentage of their market value.
- 2.08%
- 1MOne-month return of an index. The latest close against the close a month earlier, on the same date or the last trading day before it, as a percentage. One-month return of an index in the glossary
- −1.16%
- 3MThree-month return of an index. The latest close against the close three months earlier, on the same date or the last trading day before it, as a percentage. Three-month return of an index in the glossary
- −5.85%
- 1YOne-year return of an index. The latest close against the close a year earlier, on the same date or the last trading day before it, as a percentage. One-year return of an index in the glossary
- −8.29%
P/E against its own past
Where today's P/E sits among every trading day of each window: the dot is today, the tick the middle day.
At or below today's level on 31% of 2,284 trading days over the last 10 years.
At or below today's level on 36% of 1,239 trading days over the last 5 years.
At or below today's level on 5% of 744 trading days over the last 3 years.
At or below today's level on 5% of 247 trading days over the last 1 year.
P/E at each month's last trading day, and on 29 Oct 2026
What the BSE Bharat 22 Index 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 growthRevenue growth, against a year earlier. Revenue of the quarter to Jun 2026 against the same quarter a year earlier, added up over the 21 companies that filed both.
- +17.3%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 22 companies that filed it; a loss counts as negative.
- ₹92,564 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the index's 22 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 22of 22
- Median ROCEMedian return on capital employed. The middle figure of the 16 companies' ROCE for the year to Mar 2026, half above and half below. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them.
- 14.2%year to Mar 2026
Revenue against the same quarter a year earlier, per cent
Profit after tax, ₹ crore, added up over the companies that filed
The largest companies
The 12 largest companies in the BSE Bharat 22 Index, each sized by its market cap.
Market cap, ₹ crore
- State Bank of India₹8,97,138 Cr
- Larsen & Toubro₹5,27,945 Cr
- Axis Bank₹3,81,427 Cr
- ITC₹3,32,059 Cr
- NTPC₹3,01,081 Cr
- Oil & Natural Gas Corporation₹2,84,050 Cr
- Bharat Electronics₹2,70,462 Cr
- Coal India₹2,42,257 Cr
- Power Grid Corporation of India₹2,41,816 Cr
- Indian Oil Corporation₹1,84,155 Cr
- Bharat Petroleum Corporation₹1,25,470 Cr
- Bank of Baroda₹1,24,790 Cr
Companies in the BSE Bharat 22 Index
Largest first, by market cap.
State Bank of IndiaSBIN · Banks₹971.90+1.58%₹8,97,138 Cr10.40Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.79%+3.4%
Axis BankAXISBANK · Banks₹1,225.00+0.41%₹3,81,427 Cr12.70Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.08%−1.9%
Bank of BarodaBANKBARODA · Banks₹241.31+4.09%₹1,24,790 Cr–Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.3.52%−12.1%
Indian BankINDIANB · Banks₹864.10+2.89%₹1,16,391 Cr8.80Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.11%+1.1%
Power Finance CorporationPFC · Finance₹320.60+1.33%₹1,05,801 Cr4.10Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.5.85%−21.6%
RECRECLTD · Finance₹296.15+2.12%₹77,983 Cr5.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.4.59%−23.2%
National Aluminium CompanyNATIONALUM · Non - Ferrous Metals₹323.500.00%₹59,415 Cr8.8038.9%3.55%+35.9%
Funds that follow the BSE Bharat 22 Index
1 index fund or ETF tracks the BSE Bharat 22 Index; 1 other fund uses it as its benchmark.
Bharat 22 ETFETF · ICICI Prudential Mutual FundNAV₹109.05291Y−6.71%3Y+13.96%5Y+19.37%Size₹10,057 CrCost0.07%
About the BSE Bharat 22 Index
The BSE Bharat 22 Index measures the performance of 22 select companies disinvested by the central government of India.
How companies are chosen
The eligible universe is made of four groups of companies listed on BSE: Central Public Sector Enterprises as classified by the Government of India, the Specific Undertaking of the Unit Trust of India, all public sector undertaking banks, and all other companies disinvested by the Government of India.
The Government of India publishes a list of stocks from that universe that are under its disinvestment program, and these stocks form the index. Additions and deletions occur only where the government notifies a change, with five business days advance notice.
How it is weighted
Companies are weighted by float-adjusted market capitalization, with a cap of 15% on any individual stock and a common cap of 20% for each India Industry Classification Structure macro-economic indicator.
Its weighting method is modified market cap weighted, a capped form of market capitalization weighting.
Each company's investable weight factor defines its available float and is reviewed quarterly.
When it is reviewed
The index is rebalanced annually in Mar, when the individual stock and sector weight caps are applied.
Any addition or deletion triggers an ad-hoc rebalancing that reweights all stock and sector caps, with index shares calculated from closing prices seven business days before the rebalancing date.
If an ad-hoc rebalancing occurs within the three months before the annual Mar rebalancing, that year's Mar rebalancing is not conducted.
Base date and value
The index was launched on 10 Aug 2017, and its first value date is 17 Mar 2006.
- Published by
- BSE
- Kind
- Theme
- CompaniesCompanies in an index. How many companies the index holds on its current list, which the exchange revises from time to time. Companies in an index in the glossary
- 22
- List last changed
- 30 Sep 2026
- Above 200-day averageMembers above their 200-day average. The share of the index's members whose latest close is above their own average close of the last 200 trading days; members listed too recently to have one are left out. Members above their 200-day average in the glossary
- 2 of 22
Theme indices
Others in this group, the most used as a fund's benchmark first.All
- BSE Housing Index26 companiesP/E 32.43
BSE India Defence33 companiesP/E 46.00
Nifty India New Age Consumption75 companiesP/E 43.10- Nifty India Railways PSU17 companiesP/E 19.16
Nifty Rural75 companiesP/E 21.06- Nifty100 ESG Sector LeadersThemeP/E 19.56
- BSE 500 Shariah263 companies
BSE Capital Markets & Insurance26 companiesP/E 29.13- BSE Clean Environment29 companiesP/E 44.91
- BSE Financials Ex-Banks 30 Index30 companiesP/E 18.15