Nifty Midcap Liquid 15 PE Ratio
Valuation Percentile
Nifty Midcap Liquid 15's PB is more expensive than 58% of the last 5 years.
The Nifty Midcap Liquid 15 PE ratio is 40.93 as of 1 October 2026, about 46% above its 5-year median of 28.07, which places it in significantly overvalued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| Full history | 21.98 | +86.17% |
| 10 Years | 23.64 | +73.14% |
| 7 Years | 23.63 | +73.21% |
| 5 Years | 28.07 | +45.81% |
| 3 Years | 36.98 | +10.68% |
| 1 Year | 38.36 | +6.70% |
Historical PE Ratio
Data gap. P/E is unavailable from 30 May 2016 to 29 Sept 2016 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 8 May 2014. Index values go back to 1 Jan 2009.
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 Liquid 15 earnings grew +4.59% a year over the last 5 years, while the index moved +18.11% a year and its P/E went from 22.3 to 40.9.
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.
Performance and risk
1-year holding windows since 2014 returned a median of +15.03% (best +129.44%, worst -37.61%).
Today's PE of 40.93 sits in band 5 of 5 of this index's history (PE above 36.9). From this band, 5-year forward returns had a median of +13.55% a year and were positive in 100% of windows (216 windows since 2014).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty Midcap Liquid 15. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty Midcap Liquid 15
The Nifty Midcap Liquid 15 contains 15 constituents. Its largest sectors by weight are Financial Services (35.7%) and Capital Goods (25.1%).
Recent changes
4 October 2026: Added Bharat Forge Ltd., Bharat Heavy Electricals Ltd., GE Vernova T&D India Ltd., PB Fintech Ltd.. Removed AU Small Finance Bank Ltd., BSE Ltd., Coforge Ltd., Fortis Healthcare 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
- Selection
- Introduction Nifty Midcap Liquid 15 Index is designed to provide investors exposure to the liquid midcap stocks while making the index easily replicable and tradable.
- Weight cap
- At the time of rebalancing of shares/ change in index constituents/ change in investable weight factors (IWFs), the weightage of the index constituent (where applicable) is capped at 10%.
Summarised from NSE's official methodology document (PDF) for the Nifty Midcap Liquid 15; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty Midcap Liquid 15 PE ratio?
As of 1 October 2026, the Nifty Midcap Liquid 15 PE ratio is 40.93. That is about 46% above its 5-year median of 28.07 and about 7% above its 1-year median of 38.36.
Is the Nifty Midcap Liquid 15 undervalued right now?
On a historical basis it screens as significantly overvalued. Its current PE of 40.93 sits above every median window: 1-year (38.36), 3-year (36.98), 5-year (28.07), 7-year (23.63), 10-year (23.64) and full-history (21.98).
What is a normal PE ratio for the Nifty Midcap Liquid 15?
Over the past five years its median PE has been 28.07, and over the past three years 36.98. Today's 40.93 is toward the upper end of that historical range.
How many stocks are in the Nifty Midcap Liquid 15?
The Nifty Midcap Liquid 15 contains 15 stocks. By number of companies, its largest sectors are Financial Services (5 stocks), Capital Goods (4 stocks) and Automobile and Auto Components (2 stocks).
What returns has the Nifty Midcap Liquid 15 delivered?
As of September 2026, the Nifty Midcap Liquid 15 total return (with dividends reinvested) is +11.08% over the past year and +19.44% 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 Liquid 15?
Over the year to September 2026, the Nifty Midcap Liquid 15 had an annualized volatility (standard deviation of daily returns) of 18.77%. Its beta versus the Nifty 50 is 1.17, meaning it has moved more than the broad market.
What is a typical one-year return for the Nifty Midcap Liquid 15?
Across every one-year holding window since 2014, the Nifty Midcap Liquid 15 total return has a median of +15.03%, with the best window at +129.44% and the worst at -37.61%. 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 Liquid 15 currently trades at a PE of 40.93, in band 5 of 5 of its own PE history. Across 216 overlapping 5-year windows since 2014 that began in this band, the median forward return was +13.55% a year, positive in 100% of windows. A past distribution, not a prediction.
How fast have Nifty Midcap Liquid 15 earnings grown?
Nifty Midcap Liquid 15 earnings, measured as the index level divided by its P/E, grew +4.59% a year over the last 5 years, while the index itself moved +18.11% a year and its P/E rose from 22.29 to 40.93. Past growth, not a forecast.
Last updated: 1 October 2026.