Nifty Midcap 50 PE Ratio
Valuation Percentile
Nifty Midcap 50's PB is cheaper than 53% of the last 5 years.
The Nifty Midcap 50 PE ratio is 29.80 as of 1 October 2026, about 5% below its 5-year median of 31.39, which places it in fairly valued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| Full history | 20.63 | +44.45% |
| 15 Years | 25.05 | +18.96% |
| 10 Years | 34.03 | -12.43% |
| 7 Years | 30.83 | -3.34% |
| 5 Years | 31.39 | -5.07% |
| 3 Years | 35.85 | -16.88% |
| 1 Year | 33.59 | -11.28% |
Historical PE Ratio
Data gap. P/E is unavailable from 26 Jun 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 3 Apr 2006. Index values go back to 1 Jan 2004.
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 50 earnings grew +17.56% a year over the last 5 years, while the index moved +15.31% a year and its P/E went from 32.8 to 29.8.
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 50
1 ETF and 2 index funds track this index. Prices and NAVs as of 1 Oct 2026.
ETFs (1)
| ETF | Symbol | Price | NAV | Premium | 1Y |
|---|---|---|---|---|---|
| Kotak Nifty Midcap 50 ETF | MIDCAP | 17.1 | - | - | - |
Index funds (2)
| Fund | AMC | NAV | Since |
|---|---|---|---|
| Axis Nifty Midcap 50 Index Fund | Axis Asset Management Co. Ltd. | 20.51 Oct 2026 | 2022 |
| Kotak Nifty Midcap 50 Index Fund | Kotak Mahindra Asset Management Company Limited. | 10.361 Oct 2026 | 2024 |
Listed for information only, not a recommendation. Check expense ratio and tracking difference before investing.
Performance and risk
1-year holding windows since 2006 returned a median of +10.20% (best +170.68%, worst -67.75%).
Today's PE of 29.80 sits in band 4 of 5 of this index's history (PE 23.1 to 38.7). From this band, 5-year forward returns had a median of +19.98% a year and were positive in 98% of windows (406 windows since 2006).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty Midcap 50. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty Midcap 50
The Nifty Midcap 50 contains 50 constituents. Its largest sectors by weight are Financial Services (27.6%) and Healthcare (12.8%).
Recent changes
4 October 2026: Added GE Vernova T&D India Ltd., Glenmark Pharmaceuticals Ltd., Indian Hotels Co. Ltd., JSW Energy Ltd., National Aluminium Co. Ltd., REC Ltd., United Spirits Ltd., Vishal Mega Mart Ltd.. Removed Alkem Laboratories Ltd., BSE Ltd., Coforge Ltd., Colgate Palmolive (India) Ltd., MphasiS Ltd., Polycab India Ltd., SBI Cards and Payment Services Ltd., Supreme Industries 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
- It includes top 50 companies selected based on 6 month average free float market capitalization from the top 100 companies selected based on both average daily full market capitalization and average daily turnover based on previous six months data from the Nifty Midcap 150 index.
- Rebalanced
- Quarterly
Summarised from NSE's official methodology document (PDF) for the Nifty Midcap 50; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty Midcap 50 PE ratio?
As of 1 October 2026, the Nifty Midcap 50 PE ratio is 29.80. That is about 5% below its 5-year median of 31.39 and about 11% below its 1-year median of 33.59.
Is the Nifty Midcap 50 undervalued right now?
On a historical basis it screens as fairly valued. Its current PE of 29.80 compares with its historical medians: 1-year (33.59), 3-year (35.85), 5-year (31.39), 7-year (30.83), 10-year (34.03), 15-year (25.05) and full-history (20.63).
What is a normal PE ratio for the Nifty Midcap 50?
Over the past five years its median PE has been 31.39, and over the past three years 35.85. Today's 29.80 is toward the lower end of that historical range.
How many stocks are in the Nifty Midcap 50?
The Nifty Midcap 50 contains 50 stocks. By number of companies, its largest sectors are Financial Services (11 stocks), Capital Goods (6 stocks) and Healthcare (6 stocks).
What returns has the Nifty Midcap 50 delivered?
As of September 2026, the Nifty Midcap 50 total return (with dividends reinvested) is +7.41% over the past year and +16.40% 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 50?
Over the year to September 2026, the Nifty Midcap 50 had an annualized volatility (standard deviation of daily returns) of 16.49%. Its beta versus the Nifty 50 is 1.07, meaning it has moved more than the broad market.
What is a typical one-year return for the Nifty Midcap 50?
Across every one-year holding window since 2006, the Nifty Midcap 50 total return has a median of +10.20%, with the best window at +170.68% and the worst at -67.75%. 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 50 currently trades at a PE of 29.80, in band 4 of 5 of its own PE history. Across 406 overlapping 5-year windows since 2006 that began in this band, the median forward return was +19.98% a year, positive in 98% of windows. A past distribution, not a prediction.
How fast have Nifty Midcap 50 earnings grown?
Nifty Midcap 50 earnings, measured as the index level divided by its P/E, grew +17.56% a year over the last 5 years, while the index itself moved +15.31% a year and its P/E fell from 32.82 to 29.80. Past growth, not a forecast.
How often is the Nifty Midcap 50 rebalanced?
The Nifty Midcap 50 is rebalanced quarterly. Details are in the official NSE methodology document.
Last updated: 1 October 2026.