Nifty Waves stocks list
NSETheme43 companies
- 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. Price to book of an index: how it is worked out
- 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.
- 0.55%
- 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
- +0.41%
- 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
- −4.59%
- 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
- −9.15%
What the Nifty Waves 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 39 companies that filed both.
- +11.3%quarter to Jun 2026
- ProfitProfit after tax, added up. Profit after tax of the quarter to Jun 2026, added up over the 43 companies that filed it; a loss counts as negative.
- ₹354 Crquarter to Jun 2026
- Filed the quarterCompanies that filed the quarter. How many of the index's 43 listed companies have filed results for the quarter to Jun 2026; the revenue growth and the profit are theirs.
- 43of 43
- Median ROCEMedian return on capital employed. The middle figure of the 40 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.
- 0.9%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
- Profit
- Loss
The largest companies
The 12 largest companies in the Nifty Waves, each sized by its market cap.
Market cap, ₹ crore
- Sun TV Network₹24,429 Cr
- Prime Focus₹22,791 Cr
- Nazara Technologies₹15,596 Cr
- PVR INOX₹14,326 Cr
- Saregama India₹10,335 Cr
- Tips Music₹10,063 Cr
- Zee Entertainment Enterprises₹6,773 Cr
- Network18 Media & Investments₹3,721 Cr
- Media Matrix Worldwide₹2,302 Cr
- Hathway Cable & Datacom₹1,636 Cr
- Signpost India₹1,248 Cr
- Den Networks₹1,190 Cr
Companies in the Nifty Waves
Largest first, by market cap.
About the Nifty Waves
The Nifty Waves is an index of Indian media, entertainment and gaming companies, maintained by NSE Indices Limited. It includes every eligible stock from the qualifying industries, so the number is not fixed: it held 43 companies on 30 Sep 2026.
How companies are chosen
The index draws on all companies domiciled in India that are traded on the exchange at the time of review. A stock needs a listing history of at least one month at the cut-off date, and stocks in the BZ series, where the exchange places companies that have not met its listing requirements, are not eligible.
The industry test is the only selection step: every eligible stock whose basic industry is on the index's list is included. The list covers Advertising & Media Agencies, Digital Entertainment, Electronic Media, Film Production, Distribution & Exhibition, Media & Entertainment, TV Broadcasting & Software Production, and Web based media and service.
How it is weighted
Weights follow free-float market capitalization, the market value of the shares available for public trading, with no stock above 5%. The cap is applied quarterly, at rebalancing on the last trading day of Mar, Jun, Sep and Dec. Between rebalancings weights drift with prices.
Unlike most indices in its family, it is left out of the quarterly screen for the portfolio concentration norms that SEBI announced on 10 Jan 2019 for equity ETFs and index funds.
When it is reviewed
The index is reconstituted twice a year, in Mar and Sep, using six-month average data ended Jan and Jul respectively. A member that no longer meets the eligibility rules is removed at the review.
An extra reconstitution and rebalancing is started if a member goes through a corporate action such as a scheme of arrangement or delisting, is suspended by the exchange, or moves to the BZ series.
Base date and value
The index has a base date of 1 Apr 2005 and a base value of 1000. It was launched on 2 May 2025 and is calculated in real time. A total returns variant, the Nifty Waves Total Returns Index, also exists.
- 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
- 43
- List last changed
- 9 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
- 11 of 42
Theme indices
Others in this group, the most used as a fund's benchmark first.All
Nifty India Consumption30 companiesP/E 36.52
Nifty India Manufacturing77 companiesP/E 25.92
Nifty Infrastructure30 companiesP/E 21.54
BSE India Infrastructure Index30 companiesP/E 16.04
BSE TECK21 companiesP/E 20.66- Nifty100 ESG79 companiesP/E 19.54
Nifty MNC30 companiesP/E 32.98- Nifty100 Enhanced ESGThemeP/E 19.53
Nifty100 Liquid 1515 companiesP/E 20.82- Nifty500 Ahimsa335 companiesP/E 22.00