Nifty Midcap 150 PE Ratio
Valuation Percentile
Nifty Midcap 150's PB is cheaper than 69% of the last 5 years.
The Nifty Midcap 150 PE ratio is 28.10 as of 1 October 2026, about 6% below its 5-year median of 29.80, which places it in fairly valued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| Full history | 33.63 | -16.44% |
| 10 Years | 33.46 | -16.02% |
| 7 Years | 30.18 | -6.89% |
| 5 Years | 29.80 | -5.70% |
| 3 Years | 33.63 | -16.44% |
| 1 Year | 31.75 | -11.51% |
Historical PE Ratio
Data gap. P/E is unavailable from 25 Sept 2020 to 29 Oct 2020 because the index’s aggregate earnings were negative, so no ratio could be published. The line bridges those dates, and medians and forward returns skip them.
Series start. P/E is published from 1 Apr 2016. Index values go back to 1 Apr 2005.
Earnings
Index earnings are the profits behind the index level: the closing value divided by the P/E ratio, in index points. The line moves in steps because it changes only when trailing four-quarter profits are updated or the constituents change. Compare it with price to see whether a move came from earnings or from a change in what investors pay for them.
Nifty Midcap 150 earnings grew +17.48% a year over the last 5 years, while the index moved +13.74% a year and its P/E went from 33.0 to 28.1.
Earnings growth is annualised from the last trading day at or before the start of each window to 1 Oct 2026. Price growth uses the index level over the same two dates, excluding dividends. EPS is undefined on days with no published P/E, so those days are skipped. Past growth, not a forecast.
Ways to invest in Nifty Midcap 150
10 ETFs and 15 index funds track this index. Prices and NAVs as of 1 Oct 2026.
ETFs (10)
| ETF | Symbol | Price | NAV | Premium | 1Y |
|---|---|---|---|---|---|
| Nippon India ETF Nifty Midcap 150 | MID150BEES | 224.9 | - | - | +1.72% |
| Mirae Asset Nifty Midcap 150 ETF | MIDCAPETF | 22.18 | - | - | +1.75% |
| ICICI Prudential Nifty Midcap 150 ETF | MIDCAPIETF | 22.6 | - | - | +1.54% |
| Zerodha Nifty Midcap 150 ETF | MID150CASE | 10.96 | - | - | +2.16% |
| HDFC NIFTY Midcap 150 ETF | HDFCMID150 | 22.1 | - | - | +1.43% |
Index funds (15)
| Fund | AMC | NAV | Since |
|---|---|---|---|
| Motilal Oswal Nifty Midcap 150 Index Fund | Motilal Oswal Asset Management Company Limited | 39.291 Oct 2026 | 2019 |
| Nippon India Nifty Midcap 150 Index Fund | Nippon Life India Asset Management Limited | 25.081 Oct 2026 | 2021 |
| Aditya Birla Sun Life Nifty Midcap 150 Index Fund | Aditya Birla Sun Life AMC Limited | 24.491 Oct 2026 | 2021 |
| ICICI Prudential Nifty Midcap 150 Index Fund | ICICI Prudential Asset Management Company Limited | 19.371 Oct 2026 | 2021 |
| Navi Nifty Midcap 150 Index Fund | Navi AMC Limited | 20.491 Oct 2026 | 2022 |
Listed for information only, not a recommendation. Check expense ratio and tracking difference before investing.
Performance and risk
1-year holding windows since 2016 returned a median of +13.22% (best +117.55%, worst -33.24%).
Today's PE of 28.10 sits in band 2 of 5 of this index's history (PE 26.9 to 31.7). From this band, 5-year forward returns had a median of +25.69% a year and were positive in 100% of windows (241 windows since 2016).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty Midcap 150. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty Midcap 150
The Nifty Midcap 150 contains 150 constituents. Its largest sectors by weight are Financial Services (26.8%) and Healthcare (11.2%).
Recent changes
4 October 2026: Added Aster DM Quality Care Ltd., EMBASSY OFFICE PARKS REIT, Fertilisers and Chemicals Travancore Ltd., Hindustan Copper Ltd., Indian Hotels Co. Ltd., Indian Overseas Bank, Lodha Developers Ltd., Meesho Ltd., Narayana Hrudayalaya Ltd., Piramal Finance Ltd., REC Ltd., Shree Cement Ltd., United Spirits Ltd.. Removed 3M India Ltd., ACC Ltd., AWL Agri Business Ltd., Apollo Tyres Ltd., BSE Ltd., Hitachi Energy India Ltd., Honeywell Automation India Ltd., KPIT Technologies Ltd., Polycab India Ltd., SJVN Ltd., Tata Elxsi Ltd., The New India Assurance Company Ltd., Vodafone Idea Ltd..
Constituent list as of 4 October 2026, sourced from NSE Indices. Weights as of 30 September 2026, from the NSE factsheet.
How this index works
- Universe
- The review of broad market indices is undertaken semi-annually based on data for six months ending January and July. To be considered for inclusion in Nifty 500 index, companies must form part of eligible universe.
- Selection
- Nifty Midcap 150 represents the next 150 companies (companies ranked 101-250) based on full market capitalisation from Nifty 500.
- Rebalanced
- Quarterly
Summarised from NSE's official methodology document (PDF) for the Nifty Midcap 150; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty Midcap 150 PE ratio?
As of 1 October 2026, the Nifty Midcap 150 PE ratio is 28.10. That is about 6% below its 5-year median of 29.80 and about 12% below its 1-year median of 31.75.
Is the Nifty Midcap 150 undervalued right now?
On a historical basis it screens as fairly valued. Its current PE of 28.10 sits below every median window: 1-year (31.75), 3-year (33.63), 5-year (29.80), 7-year (30.18), 10-year (33.46) and full-history (33.63).
What is a normal PE ratio for the Nifty Midcap 150?
Over the past five years its median PE has been 29.80, and over the past three years 33.63. Today's 28.10 is toward the lower end of that historical range.
How many stocks are in the Nifty Midcap 150?
The Nifty Midcap 150 contains 150 stocks. By number of companies, its largest sectors are Financial Services (37 stocks), Capital Goods (16 stocks) and Healthcare (16 stocks).
What returns has the Nifty Midcap 150 delivered?
As of September 2026, the Nifty Midcap 150 total return (with dividends reinvested) is +4.57% over the past year and +14.76% annualized over the past five years. One-year figures are absolute; multi-year figures are annualized (CAGR). Data from the NSE factsheet.
How volatile is the Nifty Midcap 150?
Over the year to September 2026, the Nifty Midcap 150 had an annualized volatility (standard deviation of daily returns) of 16.19%. Its beta versus the Nifty 50 is 1.05, meaning it has moved roughly in line with the broad market.
What is a typical one-year return for the Nifty Midcap 150?
Across every one-year holding window since 2016, the Nifty Midcap 150 total return has a median of +13.22%, with the best window at +117.55% and the worst at -33.24%. Based on NSE Total Returns Index data; a past distribution, not a prediction.
What have 5-year returns been from PE levels like today's?
The Nifty Midcap 150 currently trades at a PE of 28.10, in band 2 of 5 of its own PE history. Across 241 overlapping 5-year windows since 2016 that began in this band, the median forward return was +25.69% a year, positive in 100% of windows. A past distribution, not a prediction.
How fast have Nifty Midcap 150 earnings grown?
Nifty Midcap 150 earnings, measured as the index level divided by its P/E, grew +17.48% a year over the last 5 years, while the index itself moved +13.74% a year and its P/E fell from 33.04 to 28.10. Past growth, not a forecast.
How often is the Nifty Midcap 150 rebalanced?
The Nifty Midcap 150 is rebalanced quarterly. Details are in the official NSE methodology document.
Last updated: 1 October 2026.