Nifty Midcap Select PE Ratio
Valuation Percentile
Nifty Midcap Select's PB is cheaper than 63% of the last 5 years.
The Nifty Midcap Select PE ratio is 28.74 as of 1 October 2026, about 13% below its 5-year median of 33.13, which places it in moderately undervalued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| 5 Years | 33.13 | -13.25% |
| 3 Years | 35.03 | -17.96% |
| 1 Year | 29.92 | -3.94% |
Historical PE Ratio
Series start. P/E is published from 14 Sept 2021. Index values go back to 3 Oct 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 Select earnings grew +12.87% a year over the last 5 years, while the index moved +12.96% a year and its P/E went from 28.6 to 28.7.
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 2021 returned a median of +14.87% (best +64.17%, worst -11.15%).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty Midcap Select. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty Midcap Select
The Nifty Midcap Select contains 25 constituents. Its largest sectors by weight are Financial Services (38.5%) and Capital Goods (15.6%).
Recent changes
4 October 2026: Added Federal Bank Ltd., GE Vernova T&D India Ltd., Indian Hotels Co. Ltd., Multi Commodity Exchange of India Ltd.. Removed BSE Ltd., Fortis Healthcare Ltd., Hindustan Petroleum Corporation Ltd., Polycab India 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
- To form part of Nifty Midcap Select Index, stocks should satisfy the following eligibility criteria.
- Rebalanced
- Quarterly
Summarised from NSE's official methodology document (PDF) for the Nifty Midcap Select; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty Midcap Select PE ratio?
As of 1 October 2026, the Nifty Midcap Select PE ratio is 28.74. That is about 13% below its 5-year median of 33.13 and about 4% below its 1-year median of 29.92.
Is the Nifty Midcap Select undervalued right now?
On a historical basis it screens as moderately undervalued. Its current PE of 28.74 sits below every median window: 1-year (29.92), 3-year (35.03) and 5-year (33.13).
What is a normal PE ratio for the Nifty Midcap Select?
Over the past five years its median PE has been 33.13, and over the past three years 35.03. Today's 28.74 is toward the lower end of that historical range.
How many stocks are in the Nifty Midcap Select?
The Nifty Midcap Select contains 25 stocks. By number of companies, its largest sectors are Financial Services (9 stocks), Capital Goods (4 stocks) and Consumer Services (3 stocks).
What returns has the Nifty Midcap Select delivered?
As of September 2026, the Nifty Midcap Select total return (with dividends reinvested) is +9.59% over the past year and +13.95% 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 Select?
Over the year to September 2026, the Nifty Midcap Select had an annualized volatility (standard deviation of daily returns) of 18.02%. Its beta versus the Nifty 50 is 1.15, meaning it has moved more than the broad market.
What is a typical one-year return for the Nifty Midcap Select?
Across every one-year holding window since 2021, the Nifty Midcap Select total return has a median of +14.87%, with the best window at +64.17% and the worst at -11.15%. Based on NSE Total Returns Index data; a past distribution, not a prediction.
How fast have Nifty Midcap Select earnings grown?
Nifty Midcap Select earnings, measured as the index level divided by its P/E, grew +12.87% a year over the last 5 years, while the index itself moved +12.96% a year and its P/E rose from 28.62 to 28.74. Past growth, not a forecast.
How often is the Nifty Midcap Select rebalanced?
The Nifty Midcap Select is rebalanced quarterly. Details are in the official NSE methodology document.
Last updated: 1 October 2026.