Nifty Shariah 25 stocks list
NSETheme25 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
- 25.04
- 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.
- 4.31
- 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.
- 2.25%
- 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
- −0.15%
- 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
- −4.63%
- 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
- −9.32%
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 32% of 2,478 trading days over the last 10 years.
At or below today's level on 33% of 1,239 trading days over the last 5 years.
At or below today's level on 8% of 743 trading days over the last 3 years.
At or below today's level on 8% 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 Shariah 25 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 23 companies that filed both.
- +20.2%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 25 companies that filed it; a loss counts as negative.
- ₹49,765 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the index's 25 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 25of 25
- Median ROCEMedian return on capital employed. The middle figure of the 25 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.
- 23.2%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 Nifty Shariah 25, each sized by its market cap.
Market cap, ₹ crore
- Tata Consultancy Services₹9,03,400 Cr
- Hindustan Unilever₹4,27,156 Cr
- Sun Pharmaceutical Industries₹4,20,172 Cr
- HCL Technologies₹3,85,340 Cr
- UltraTech Cement₹3,28,567 Cr
- Oil & Natural Gas Corporation₹2,89,158 Cr
- Nestle India₹2,27,638 Cr
- Asian Paints₹2,18,409 Cr
- Tech Mahindra₹1,77,546 Cr
- Samvardhana Motherson International₹1,66,707 Cr
- Trent₹1,50,404 Cr
- Pidilite Industries₹1,47,688 Cr
Companies in the Nifty Shariah 25
Largest first, by market cap.
Hindustan UnileverHINDUNILVR · Diversified FMCGDemerger₹1,818.00−0.03%₹4,27,156 Cr28.6028.4%2.24%−26.4%
Sun Pharmaceutical IndustriesSUNPHARMA · Pharmaceuticals & Biotechnology₹1,751.20+0.64%₹4,20,172 Cr34.7016.9%0.91%+3.4%
UltraTech CementULTRACEMCO · Cement & Cement Products₹11,150.00−0.27%₹3,28,567 Cr37.3012.7%2.15%−7.2%
Samvardhana Motherson InternationalMOTHERSON · Auto Components₹157.95+2.73%₹1,66,707 Cr38.1012.2%0.38%+47.7%
Pidilite IndustriesPIDILITIND · Chemicals & Petrochemicals₹1,450.00−1.89%₹1,47,688 Cr55.8030.3%0.79%−3.6%
CG Power and Industrial SolutionsCGPOWER · Electrical Equipment₹835.40+0.26%₹1,31,615 Cr95.7017.7%0.16%+14.7%
Dr. Reddy's LaboratoriesDRREDDY · Pharmaceuticals & Biotechnology₹1,310.00−0.07%₹1,09,343 Cr39.106.0%0.61%+2.0%
Tata Consumer ProductsTATACONSUM · Agricultural Food & other Products₹1,000.00+6.78%₹98,970 Cr58.209.4%1.00%−14.5%
About the Nifty Shariah 25
Nifty Shariah 25, maintained by NSE Indices Limited, is an index of 25 Shariah compliant companies listed on National Stock Exchange of India.
How companies are chosen
The index stands alone with a fixed count, while Nifty50 Shariah and Nifty500 Shariah are subsets of the Nifty 50 and Nifty 500 with no fixed number of constituents.
A company must have traded at least 90% of the time in the last six months and have been Shariah compliant for the last 24 months continuously. The 25 companies are then picked by six month average free float market capitalization, the market value of the shares normally expected to be available for trading.
Companies compliant with IRDA dividend norms are eligible.
The business screen removes companies primarily in conventional financial services such as banks and insurance companies, and in gambling and narcotic drugs, among other activities. Taqwaa Advisory and Shariah Investment Solutions (TASIS) provides the Shariah screens under contract.
The financial screen requires interest based debt of 25% or less of total assets, interest income and returns from interest based investments of 2.5% or less of total income, and receivables plus cash and bank balances of 90% or less of total assets.
How it is weighted
The index uses a periodic capped free float methodology: each constituent's weight is capped at 10% at each rebalancing.
The capping factor is realigned when a company is replaced and every quarter, effective from the last trading day of Mar, Jun, Sep and Dec, and a weight may rise above 10% between those dates as prices move.
When it is reviewed
Shariah compliance is screened monthly. The index is reviewed every six months, using data for the six months ending Jan and Jul.
If a constituent becomes non-compliant in a monthly review, a compliant company from the replacement pool takes its place. In the semi-annual review, a non-member replaces the last constituent when its free float market capitalization is 1.5 times as large.
Base date and value
The index was launched on 12 May 2014. Its base date is 1 Jan 2009 and its base value is 1000.
- Published by
- NSE
- 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
- 25
- List last changed
- 23 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
- 8 of 25
Theme indices
Others in this group, the most used as a fund's benchmark first.All
Nifty India Consumption30 companiesP/E 36.57
Nifty India Manufacturing77 companiesP/E 25.81
Nifty Infrastructure30 companiesP/E 21.77- Nifty Small Finance Banks & Microfinance Institutions13 companiesP/E 16.96
Nifty SME EMERGE539 companiesP/E 21.92- Nifty Sugar & Ethanol16 companiesP/E 22.88
Nifty Waves43 companies- Nifty100 Enhanced ESGThemeP/E 19.52
Nifty100 Liquid 1515 companiesP/E 21.03- Nifty500 Ahimsa335 companiesP/E 22.05