Magic Formula: 155 stocks
Stocks with high return on capital and high earnings yield, inspired by Joel Greenblatt.
Screen: Return on capital employed > 20 AND Earnings yield > 3 AND Market Capitalization > 5000 · updated 30 September 2026 · 155 NSE and BSE companies match, largest first.
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| # | Company | CMP Rs. | Mar Cap Rs.Cr. | P/E | ROCE % | Earnings Yield % |
|---|---|---|---|---|---|---|
| 1 | ICICI Bank Limited | ₹ 1,321 | ₹ 9,48,483 Cr | 17.2 | 30.6% | 5.9% |
| 2 | State Bank of India | ₹ 970 | ₹ 8,95,185 Cr | 10.5 | 35.3% | 9.3% |
| 3 | Tata Consultancy Services Limited | ₹ 2,087 | ₹ 7,55,206 Cr | 15.1 | 59.9% | 6.7% |
| 4 | Life Insurance Corporation of India | ₹ 393 | ₹ 4,96,829 Cr | 8.61 | 38.0% | 11.6% |
| 5 | Hindustan Unilever Limited | ₹ 1,880 | ₹ 4,41,653 Cr | 42.9 | 28.1% | 3.4% |
| 6 | Infosys Limited | ₹ 1,016 | ₹ 4,11,434 Cr | 12.8 | 41.6% | 7.4% |
| 7 | Kotak Mahindra Bank Limited | ₹ 413 | ₹ 4,10,549 Cr | 19.8 | 21.4% | 4.7% |
| 8 | Axis Bank Limited | ₹ 1,219 | ₹ 3,79,514 Cr | 14.4 | 23.5% | 7.5% |
| 9 | HCL Technologies Limited | ₹ 1,245 | ₹ 3,36,868 Cr | 19.6 | 29.4% | 4.9% |
| 10 | ITC Limited | ₹ 265 | ₹ 3,32,309 Cr | 16.9 | 38.7% | 6.2% |
| 11 | Bajaj Auto Limited | ₹ 10,870 | ₹ 2,98,712 Cr | 26.8 | 28.6% | 3.9% |
| 12 | Coal India Limited | ₹ 430 | ₹ 2,65,121 Cr | 8.48 | 35.1% | 13.4% |
| 13 | Hindustan Zinc Limited | ₹ 570 | ₹ 2,40,759 Cr | 14.6 | 68.4% | 6.9% |
| 14 | Tata Motors Limited | ₹ 425 | ₹ 1,56,334 Cr | 38.0 | 28.5% | 4.1% |
| 15 | Vodafone Idea Limited | ₹ 13.24 | ₹ 1,43,446 Cr | 4.09 | 35.1% | 26.1% |
| 16 | Tech Mahindra Limited | ₹ 1,541 | ₹ 1,36,521 Cr | 26.7 | 22.6% | 3.7% |
| 17 | Union Bank of India | ₹ 172 | ₹ 1,31,413 Cr | 6.37 | 48.9% | 15.7% |
| 18 | Punjab National Bank | ₹ 113 | ₹ 1,29,985 Cr | 5.86 | 52.8% | 14.7% |
| 19 | Bharat Petroleum Corporation Limited | ₹ 304 | ₹ 1,29,887 Cr | 7.69 | 25.4% | 13.7% |
| 20 | LTM Limited | ₹ 4,098 | ₹ 1,21,502 Cr | 22.9 | 27.2% | 4.2% |
| 21 | Bank of Baroda Limited | ₹ 234 | ₹ 1,20,855 Cr | 6.70 | 37.5% | 13.6% |
| 22 | Zydus Lifesciences Limited | ₹ 1,164 | ₹ 1,16,099 Cr | 27.1 | 20.9% | 4.1% |
| 23 | Canara Bank | ₹ 121 | ₹ 1,09,800 Cr | 5.71 | 54.5% | 16.6% |
| 24 | Indian Bank | ₹ 808 | ₹ 1,08,875 Cr | 8.76 | 47.6% | 11.0% |
| 25 | Lloyds Metals and Energy Limited | ₹ 1,902 | ₹ 1,07,015 Cr | 21.5 | 27.2% | 4.5% |
| 26 | Hero MotoCorp Limited | ₹ 5,318 | ₹ 1,06,425 Cr | 20.1 | 35.5% | 5.1% |
| 27 | Vedanta Limited | ₹ 259 | ₹ 1,01,291 Cr | 11.4 | 21.6% | 20.8% |
| 28 | Indus Towers Limited | ₹ 371 | ₹ 97,788 Cr | 14.0 | 20.0% | 7.2% |
| 29 | Oracle Financial Services Software Limited | ₹ 10,774 | ₹ 93,844 Cr | 27.6 | 45.3% | 3.7% |
| 30 | Lupin Limited | ₹ 2,029 | ₹ 92,775 Cr | 17.3 | 28.2% | 5.7% |
| 31 | IDBI Bank Limited | ₹ 83.34 | ₹ 89,611 Cr | 9.53 | 28.5% | 9.0% |
| 32 | The Federal Bank Limited | ₹ 320 | ₹ 79,049 Cr | 17.2 | 34.8% | 5.8% |
| 33 | ICICI Lombard General Insurance Company Limited | ₹ 1,554 | ₹ 77,655 Cr | 32.6 | 24.1% | 3.0% |
| 34 | AU Small Finance Bank Limited | ₹ 1,003 | ₹ 75,174 Cr | 27.0 | 41.5% | 3.8% |
| 35 | Welspun Corp Limited | ₹ 2,728 | ₹ 71,946 Cr | 31.3 | 23.4% | 3.1% |
| 36 | IDFC First Bank Limited | ₹ 80.68 | ₹ 69,569 Cr | 33.9 | 27.2% | 3.5% |
| 37 | IndusInd Bank Limited | ₹ 889 | ₹ 69,297 Cr | 56.0 | 26.0% | 3.4% |
| 38 | Waaree Energies Limited | ₹ 2,394 | ₹ 68,864 Cr | 18.5 | 36.0% | 5.4% |
| 39 | NMDC Limited | ₹ 77.29 | ₹ 67,952 Cr | 9.26 | 27.6% | 11.4% |
| 40 | Dabur India Limited | ₹ 381 | ₹ 67,623 Cr | 34.7 | 20.8% | 3.0% |
| 41 | Yes Bank Limited | ₹ 21.18 | ₹ 66,482 Cr | 17.7 | 21.3% | 5.9% |
| 42 | National Aluminium Company Limited | ₹ 345 | ₹ 63,336 Cr | 9.49 | 38.9% | 10.7% |
| 43 | Alkem Laboratories Limited | ₹ 5,167 | ₹ 61,779 Cr | 29.2 | 20.4% | 3.5% |
| 44 | Bank of Maharashtra | ₹ 79.99 | ₹ 61,525 Cr | 8.42 | 37.4% | 12.0% |
| 45 | Indian Overseas Bank | ₹ 31.23 | ₹ 60,138 Cr | 10.7 | 32.0% | 9.8% |
| 46 | Bank of India | ₹ 132 | ₹ 60,009 Cr | 5.11 | 34.6% | 18.4% |
| 47 | Suzlon Energy Limited | ₹ 39.66 | ₹ 54,518 Cr | 17.3 | 30.6% | 4.0% |
| 48 | Petronet LNG Limited | ₹ 286 | ₹ 42,825 Cr | 10.3 | 22.7% | 9.8% |
| 49 | Mphasis Limited | ₹ 2,234 | ₹ 42,634 Cr | 22.4 | 21.8% | 4.4% |
| 50 | Premier Energies Limited | ₹ 878 | ₹ 39,651 Cr | 24.3 | 32.8% | 4.1% |
Showing the 50 largest of 155. See all 155.
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Lists are worked out from each company's latest reported numbers and prices, end of day. For research and education, not investment advice.