Nifty Financial Services Ex-Bank stocks list
NSESector30 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
- 18.56
- 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.
- 3.45
- 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.
- 0.96%
- 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
- −6.89%
- 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
- −11.21%
- 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
- −10.25%
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 10% of 1,173 trading days over the last 5 years.
At or below today's level on 0.1% of 743 trading days over the last 3 years.
At or below today's level on 0.4% of 247 trading days over the last 1 year.
P/E at each month's last trading day, and on 27 Oct 2026
What the Nifty Financial Services Ex-Bank 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 29 companies that filed both.
- +11.4%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 30 companies that filed it; a loss counts as negative.
- ₹62,969 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the index's 30 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 30of 30
- Median ROCEMedian return on capital employed. The middle figure of the 12 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.
- 11.1%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 Nifty Financial Services Ex-Bank, each sized by its market cap.
Market cap, ₹ crore
- Bajaj Finance₹5,67,807 Cr
- Life Insurance Corporation of India₹4,90,440 Cr
- Bajaj Finserv₹2,68,666 Cr
- Shriram Finance₹1,93,797 Cr
- SBI Life Insurance Company₹1,63,856 Cr
- BSE₹1,40,357 Cr
- Jio Financial Services₹1,36,844 Cr
- Cholamandalam Investment and Finance Company₹1,25,968 Cr
- Bajaj Holdings & Investment₹1,21,321 Cr
- HDFC Life Insurance Company₹1,11,584 Cr
- Power Finance Corporation₹1,04,151 Cr
- One 97 Communications₹1,02,760 Cr
Companies in the Nifty Financial Services Ex-Bank
Largest first, by market cap.Financial Services sector
Bajaj FinanceBAJFINANCE · Finance₹912.00−0.73%₹5,67,807 Cr26.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.66%−15.9%
Life Insurance Corporation of IndiaLICI · Insurance₹387.70+1.77%₹4,90,440 Cr8.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.58%−13.6%
Bajaj FinservBAJAJFINSV · Finance₹1,677.00+0.37%₹2,68,666 Cr26.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.09%−22.7%
Shriram FinanceSHRIRAMFIN · Finance₹823.60−0.17%₹1,93,797 Cr15.30Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.31%+14.5%
SBI Life Insurance CompanySBILIFE · Insurance₹1,633.00−0.65%₹1,63,856 Cr61.70Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.17%−14.2%
Cholamandalam Investment and Finance CompanyCHOLAFIN · Finance₹1,469.00+1.46%₹1,25,968 Cr21.90Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.14%−15.2%
HDFC Life Insurance CompanyHDFCLIFE · Insurance₹513.60−1.04%₹1,11,584 Cr54.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.41%−30.3%
Power Finance CorporationPFC · Finance₹315.60−0.85%₹1,04,151 Cr4.00Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.5.94%−20.5%
One 97 CommunicationsPAYTM · Financial Technology (Fintech)₹1,601.60−3.21%₹1,02,760 Cr120.201.3%None+22.6%
Indian Railway Finance CorporationIRFC · Finance₹74.56+0.22%₹97,439 Cr13.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.2.95%−39.6%
HDFC Asset Management CompanyHDFCAMC · Capital Markets₹2,267.70+0.41%₹97,301 Cr32.7039.7%2.38%−18.4%
Aditya Birla CapitalABCAPITAL · Finance₹353.55+0.14%₹96,795 Cr23.60Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.None+13.8%
Muthoot FinanceMUTHOOTFIN · Finance₹2,407.50+0.49%₹96,654 Cr8.50Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.25%−23.5%
Multi Commodity Exchange of IndiaMCX · Capital Markets₹3,186.80+2.41%₹81,261 Cr52.7063.7%0.25%+71.2%
ICICI Lombard General Insurance CompanyICICIGI · Insurance₹1,576.20−0.24%₹78,749 Cr30.80Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.89%−20.7%
RECRECLTD · Finance₹286.50−3.92%₹75,442 Cr5.00Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.4.75%−23.3%
L&T FinanceLTF · Finance₹240.80−0.12%₹60,353 Cr17.60Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.14%−9.9%
ICICI Life InsuranceICICILIFE · Insurance₹409.55−0.92%₹59,435 Cr33.80Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.40%−31.8%
SBI Cards and Payment ServicesSBICARD · Finance₹528.05−1.90%₹50,252 Cr19.30Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.47%−41.4%
PNB Housing FinancePNBHOUSING · Finance₹1,080.00−0.55%₹28,167 Cr12.20Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.0.74%+16.4%
LIC Housing FinanceLICHSGFIN · Finance₹510.00+2.53%₹28,053 Cr4.90Lender: Not worked out for a bank, an NBFC or an insurer: it borrows to lend, so capital employed is not its measure.1.96%−12.7%
Central Depository Services (India)CDSL · Capital Markets₹1,222.00+2.17%₹25,540 Cr54.2026.1%1.04%−25.3%
Funds that follow the Nifty Financial Services Ex-Bank
2 index funds and ETFs track the Nifty Financial Services Ex-Bank.
ICICI Prudential Nifty Financial Services Ex-BaNk ETFETF · ICICI Prudential Mutual FundNAV₹28.92831Y−9.72%3Y+12.58%5Y–Size₹213 CrCost0.21%
Kotak Nifty Financial Services Ex-Bank Index FundIndex Fund · Kotak Mahindra Mutual FundNAV₹14.75201Y−10.16%3Y+12.11%5Y–Size₹98 CrCost0.32%
About the Nifty Financial Services Ex-Bank
Nifty Financial Services Ex-Bank is an index of stocks from the Financial Services sector other than banks. It holds a maximum of 30 companies and is maintained by NSE Indices Limited.
How companies are chosen
Stocks that are in the Nifty 500, or about to join it at the time of a review, and that belong to the Financial Services sector other than banks, are eligible.
The rules aim for at least 10 stocks. If the Nifty 500 has fewer than 10 eligible stocks, the shortfall is filled from the top 800 companies, ranked on both average daily turnover and average daily full market capitalisation over the previous six months.
From that universe the largest 30 stocks from eligible basic industries are chosen, ranked on 6 month average free-float market capitalisation, which counts only the shares available for trading and leaves out those held by promoters.
How it is weighted
Each stock is weighted by its free-float market capitalisation, and no stock can weigh more than 25%.
Every quarter, in Mar, Jun, Sep and Dec, the top 3 stocks together are also capped at 62%.
When it is reviewed
The index is rebalanced twice a year, with a cut-off of 31 Jan and 31 Jul, using average data for the six months to that date. Four weeks of notice are given before a change.
Changes take effect from the last trading day of Mar and Sep. A company outside the index joins only if its free-float market capitalisation is at least 1.5 times that of the smallest constituent.
Base date and value
The index has a base date of 1 Apr 2005 and a base value of 1,000. It launched on 2 Feb 2022.
- Published by
- NSE
- Kind
- Sector
- 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
- 30
- List last changed
- 27 Oct 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
- 5 of 30
Sector indices
Others in this group, the most used as a fund's benchmark first.All
Nifty Oil & Gas15 companiesP/E 10.55
Nifty Pharma20 companiesP/E 41.20- Nifty REITs & Realty15 companiesP/E 51.48
- BSE BANKEX14 companiesP/E 12.18
BSE Financial Services197 companiesP/E 14.66- BSE Insurance13 companiesP/E 23.91
- BSE MidSmall Private Banks18 companiesP/E 14.73
Nifty MidSmall Financial Services30 companiesP/E 17.59
Nifty MidSmall IT & Telecom20 companiesP/E 29.96- Nifty500 Healthcare44 companiesP/E 44.93