Nifty MNC PE Ratio
Valuation Percentile
Nifty MNC's PB is cheaper than 99% of the last 5 years.
The Nifty MNC PE ratio is 34.57 as of 1 October 2026, about 13% below its 5-year median of 39.72, which places it in moderately undervalued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| Full history | 31.31 | +10.39% |
| 15 Years | 36.53 | -5.37% |
| 10 Years | 36.47 | -5.21% |
| 7 Years | 41.23 | -16.15% |
| 5 Years | 39.72 | -12.97% |
| 3 Years | 37.46 | -7.71% |
| 1 Year | 36.51 | -5.30% |
Historical PE Ratio
Data gap. P/E is unavailable from 23 Jul 1996 to 21 Jul 1997, 23 Jul 1997 to 19 Dec 1997 and 16 Dec 2019 to 18 May 2021 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 22 Jul 1996. Index values go back to 2 Jan 1995.
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 MNC earnings grew +22.96% a year over the last 5 years, while the index moved +9.38% a year and its P/E went from 62.0 to 34.6.
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 MNC
2 ETFs and 0 index funds track this index. Prices and NAVs as of 1 Oct 2026.
ETFs (2)
| ETF | Symbol | Price | NAV | Premium | 1Y |
|---|---|---|---|---|---|
| Kotak Nifty MNC ETF | MNC | 31.13 | - | - | +0.88% |
| Motilal Oswal Nifty MNC ETF | MOMNC | 30.9 | - | - | - |
Listed for information only, not a recommendation. Check expense ratio and tracking difference before investing.
Performance and risk
1-year holding windows since 1996 returned a median of +13.31% (best +116.52%, worst -50.16%).
Today's PE of 34.57 sits in band 3 of 5 of this index's history (PE 28.7 to 34.7). From this band, 5-year forward returns had a median of +15.68% a year and were positive in 100% of windows (1,184 windows since 1996).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty MNC. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty MNC
The Nifty MNC contains 30 constituents. Its largest sectors by weight are Fast Moving Consumer Goods (31.7%) and Capital Goods (24.7%).
Recent changes
4 October 2026: Added LG Electronics India Ltd., Vedanta Aluminium Metal Ltd.. Removed 3M India Ltd., Cohance Lifesciences 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
- The index is designed to reflect the behaviour and performance of companies in which the foreign promoter shareholding is over 50%.
- 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 MNC; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty MNC PE ratio?
As of 1 October 2026, the Nifty MNC PE ratio is 34.57. That is about 13% below its 5-year median of 39.72 and about 5% below its 1-year median of 36.51.
Is the Nifty MNC undervalued right now?
On a historical basis it screens as moderately undervalued. Its current PE of 34.57 compares with its historical medians: 1-year (36.51), 3-year (37.46), 5-year (39.72), 7-year (41.23), 10-year (36.47), 15-year (36.53) and full-history (31.31).
What is a normal PE ratio for the Nifty MNC?
Over the past five years its median PE has been 39.72, and over the past three years 37.46. Today's 34.57 is toward the lower end of that historical range.
How many stocks are in the Nifty MNC?
The Nifty MNC contains 30 stocks. By number of companies, its largest sectors are Capital Goods (8 stocks), Fast Moving Consumer Goods (7 stocks) and Automobile and Auto Components (4 stocks).
What returns has the Nifty MNC delivered?
As of September 2026, the Nifty MNC total return (with dividends reinvested) is +2.98% over the past year and +10.91% 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 MNC?
Over the year to September 2026, the Nifty MNC had an annualized volatility (standard deviation of daily returns) of 14.76%. Its beta versus the Nifty 50 is 0.91, meaning it has moved less than the broad market.
What is a typical one-year return for the Nifty MNC?
Across every one-year holding window since 1996, the Nifty MNC total return has a median of +13.31%, with the best window at +116.52% and the worst at -50.16%. 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 MNC currently trades at a PE of 34.57, in band 3 of 5 of its own PE history. Across 1,184 overlapping 5-year windows since 1996 that began in this band, the median forward return was +15.68% a year, positive in 100% of windows. A past distribution, not a prediction.
How fast have Nifty MNC earnings grown?
Nifty MNC earnings, measured as the index level divided by its P/E, grew +22.96% a year over the last 5 years, while the index itself moved +9.38% a year and its P/E fell from 62.05 to 34.57. Past growth, not a forecast.
Last updated: 1 October 2026.