Diversified Group Stocks and Companies in India

The largest Diversified Group stocks in India by market value are Grasim Industries (₹2.14 lakh crore), Tube Investments of India (₹44,334 crore) and 3M India (₹32,497 crore), at prices of 4 Nov 2026.

• Grasim Industries: ₹3,138 | market value ₹2.14 lakh crore | P/E 37.3
• Tube Investments of India: ₹2,120 | market value ₹44,334 crore | P/E 64.3
• 3M India: ₹28,835 | market value ₹32,497 crore | P/E 73.7
• Piramal Enterprises Ltd(Merged): ₹1,124 (price from the week of 24 Sep 2025) | market value ₹25,483 crore | P/E 49
• Nava: ₹521.95 | market value ₹14,789 crore | P/E 19.5
• Swan Corp: ₹244.59 | market value ₹7,666 crore | P/E 34.3
• Indiabulls: ₹31.28 | market value ₹7,295 crore | P/E 15.0
• Balmer Lawrie & Company: ₹163.65 | market value ₹2,798 crore | P/E 10.0
• Bluspring Enterprises: ₹155.37 | market value ₹2,322 crore | P/E 50.0
• Texmaco Infrastructure & Holdings: ₹118.34 | market value ₹1,508 crore | P/E 166.6

The other 10 Diversified Group companies are in the full list below.

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

The largest 15 of 20 listed Indian Diversified companies are named here; all 20 are ranked in the scorecard. This is the set of companies people mean when they search for a Nifty Diversified index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Grasim Industries Ltd₹2 lakh cr
2. Tube Investments of India Ltd₹44,300 cr
3. 3M India Ltd₹32,700 cr
4. Piramal Enterprises Ltd(Merged)₹25,500 cr
5. Nava Ltd₹14,400 cr
6. Swan Corp Ltd₹7,130 cr
7. Indiabulls Limited₹7,040 cr
8. Balmer Lawrie & Company Ltd₹2,660 cr
9. Bluspring Enterprises Ltd₹2,210 cr
10. Texmaco Infrastructure & Holdings Ltd₹1,440 cr
11. Sobhagya Mercantile Ltd₹1,400 cr
12. Andrew Yule & Company Ltd₹1,080 cr
13. Arunis Abode Ltd₹1,080 cr
14. Integrated Industries Ltd₹1,000 cr
15. BCL Industries Ltd₹890 cr

The remaining 5 Diversified companies are named and ranked in the scorecard.

20 Diversified Group companies in the Diversified industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 20 are listed below, largest first. The largest is Grasim Industries (₹2.03 lakh crore) and the smallest with a market value is Kesar Enterprises.

Download all 20 Diversified Group companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 63% ahead of NIFTY 500. Earnings across its companies fell 2% on average over the last four reported quarters. It has been ahead of NIFTY 500 on a rolling three-month view for 30 weeks running.

Price up, without the fundamentals confirming. 2 of the 16 companies with a long enough price record pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high).

Ahead of NIFTY 500 on the three-month view for 30 weeks running; 6 of the 16 companies in the industry index above their 200-day average (2 fewer than four weeks earlier); 2 of those 16 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 9 of the 15 that report earnings.

Participation is shrinking, 4 → 2 of 16 over four weeks, after being ahead of NIFTY 500. Earnings mixed, 9 of 15 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of 16 of its 20 companies (the 4 with too short a price record are ranked in the scorecard but cannot sit in this line). The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Diversified has done better than the NIFTY 500 by 10.6% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 1.9%. Indiabulls Limited is the strongest against the sector itself at +51.7%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 25.7 as of 30 October 2026 (broadening, falling).

Diversified has done better than the NIFTY 500 by 10.6% over 52 weeks, but is 1.9% behind over the last 13 weeks. 2 of 20 companies we track are beating the NIFTY on relative strength (how a share price has done against the index over recent months) (6 have no relative-strength reading yet), and 4 of the 10 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Indiabulls Limited has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 63.6% evidence confidence.

Ranked last: too little evidence (5 companies)

Under 60% of the evidence behind these scores is available, so they rank after every company above, whatever the score.

Bluspring Enterprises Ltd has the strongest one-year price move in Diversified at +86.5%. It also leads on relative strength against the NIFTY, at +73.2%. 5 of 20 companies we track are ahead of the index on that measure (6 have no relative-strength reading yet). Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Diversified itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

A mature earlier winner is resting inside its range, with improving recent profits but no confirmed new earnings-backed breakout. In the week of 5 October 2026, 46.2% of 13 Diversified companies were beating the Nifty 500, against 75% on 25 May 2026.

From our industry review of 10 October 2026.

Higher-value products and services are improving parts of this group, led by Grasim, Tube Investments and Bluspring. Cost recovery and profit growth are uneven, while several expansion plans have slipped or stopped. These company changes do not yet establish a lasting improvement across the whole industry.

From our industry review of 10 October 2026.

5 of 13 Diversified companies held a results call for April to June 2026. Bluspring Enterprises guided: Current-year revenue growth of 40-45%, reaching ₹4,700-4,800 crore versus ₹3,300 crore last year.

From the results calls for April to June 2026.

Big funds, foreign and Indian, raised their stake by 0.6 points over the last two quarters. Founders and promoters cut theirs by 0.7 points.

• Spending on new plants and equipment was ₹26,818 crore in the last 12 months, 15% less than a year before.
• Projects still being built grew 15% in a year.
• 1 Diversified call in the last quarters talked about adding capacity.

Big funds = foreign and Indian institutions, change in their share of ownership across 22 Diversified companies, in percentage points.

Ownership and spending as of 10 October 2026.

1 chain of cause and effect links Diversified to other industries right now. Cost shocks reward suppliers that can raise customer prices. For Diversified: Tube Investments still needs to recover steel costs that customers have not fully paid for.

From our cross-industry review of 10 October 2026.

The next things that show whether the Diversified story is on course. First: Next results: check whether Tube Investments recovers its steel under-recovery and whether venture losses narrow.

• Grasim's financial-year exit: check Pivot break-even and whether paint growth produces sustained profit after recurring costs.
• July 2027: check Nava's revised Phase II commissioning timetable.
• Fourth quarter of the current financial year: check Bluspring's Foundit break-even and acquisition cash conversion.
• Industry price: require a break above the existing range with stronger relative performance and continuing earnings improvement.

What would change the story

A new sector result showing sustained profit growth across a consistent member set, together with price breaking above the long range while beating NIFTY 500, would overturn this stalled-winner call.

From our industry review of 10 October 2026.

Grasim Industries Ltd has the highest Revenue among the 20 Diversified companies compared here, at ₹1,84,029 crore. Tube Investments of India Ltd is next at ₹23,754 crore. Kalind Ltd has the highest Revenue growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Grasim Industries Ltd is the largest at ₹1,84,029 crore, 674.7% ahead of Tube Investments of India Ltd. Kalind Ltd's growth is capped at 100% on the scoring scale; the full change over the last 12 months is 621.4% from a ₹101 crore base, with 16 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: Grasim Industries Ltd is the size to compare against; Kalind Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: Grasim Industries Ltd's growth falls below Kalind Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

Piramal Enterprises Ltd(Merged) has the highest OPM among the 20 Diversified companies compared here, at 65.1%. Kalind Ltd is next at 63%. Indiabulls Limited has the highest Margin change at +28 percentage points, so level and change sit with different companies. 18 of 20 companies report a comparable reading, the latest through Jun 2025.

What the numbers say: Piramal Enterprises Ltd(Merged) leads opm at 65.1%; Indiabulls Limited leads margin change at +28 percentage points.

What this means: Piramal Enterprises Ltd(Merged) sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

Grasim Industries Ltd has the highest Net profit among the 20 Diversified companies compared here, at ₹11,261 crore. Tube Investments of India Ltd is next at ₹1,109 crore. Kalind Ltd has the highest Profit growth at the 100% top of the scoring scale, so level and change sit with different companies.

What the numbers say: Grasim Industries Ltd earns the most, ₹11,261 crore of profit over the last 12 months, 10.2× the profit of Tube Investments of India Ltd. Kalind Ltd shows at least 100% on the scoring scale (720% in full) growth from a profit base of ₹41 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: Grasim Industries Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

3M India Ltd has the highest ROCE among the 20 Diversified companies compared here, at 50%. Kalind Ltd is next at 32%. Kalind Ltd has the highest ROCE change at +37 percentage points, so level and change sit with different companies. 20 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: 3M India Ltd leads ROCE at 50%, 18 percentage points above Kalind Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: 3M India Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: Grasim Industries Ltd (GRASIM): its two data sources disagree by up to 14% on reported income across 15 comparable periods, so its derived ratios are withheld; Swan Corp Ltd (SWANCORP): its two data sources disagree by up to 837% on reported income across 15 comparable periods, so its derived ratios are withheld; Indiabulls Limited (IBULLSLTD): its two data sources disagree by up to 339% on reported income across 15 comparable periods, so its derived ratios are withheld; Balmer Lawrie & Company Ltd (BALMLAWRIE): its two data sources disagree by up to 28% on reported income across 15 comparable periods, so its derived ratios are withheld; Bluspring Enterprises Ltd (BLUSPRING): its two data sources disagree by up to 119% on reported income across 8 comparable periods, so its derived ratios are withheld; Texmaco Infrastructure & Holdings Ltd (TEXINFRA): its two data sources disagree by up to 172% on reported income across 15 comparable periods, so its derived ratios are withheld; BCL Industries Ltd (BCLIND): its two data sources disagree by up to 9% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Nava Ltd has the lowest PEG among the 20 Diversified companies compared here, at 1.15×. 3M India Ltd is next at 3.29×. Nurture Well Industries Ltd has the lowest P/E at 7.48×, so level and change sit with different companies. 3 of 20 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: Nava Ltd has the lowest comparable PEG at 1.15×, 65% below 3M India Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Diversified companies show up on 6 of our India lists. The most are on the small & mid cap stocks list (4 companies).

This Diversified comparison names 6 specific ways its own evidence can mislead, all listed below. 3 of the 20 companies report on an older date than the sector's freshest reporters, so their ranks are marked stale. 7 have second-source figures left out because the two sources disagree. A high growth rate can still come from a very small starting figure.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 3 companies have older fundamental reporting dates than the sector’s freshest reporters; their ranks carry a stale marker.
• 7 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.

This comparison is built from the reported filings of 20 Diversified companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

7 of 20 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Grasim Industries Ltd (GRASIM): its two data sources disagree by up to 14% on reported income across 15 comparable periods, so its derived ratios are withheld; Swan Corp Ltd (SWANCORP): its two data sources disagree by up to 837% on reported income across 15 comparable periods, so its derived ratios are withheld; Indiabulls Limited (IBULLSLTD): its two data sources disagree by up to 339% on reported income across 15 comparable periods, so its derived ratios are withheld; Balmer Lawrie & Company Ltd (BALMLAWRIE): its two data sources disagree by up to 28% on reported income across 15 comparable periods, so its derived ratios are withheld; Bluspring Enterprises Ltd (BLUSPRING): its two data sources disagree by up to 119% on reported income across 8 comparable periods, so its derived ratios are withheld; Texmaco Infrastructure & Holdings Ltd (TEXINFRA): its two data sources disagree by up to 172% on reported income across 15 comparable periods, so its derived ratios are withheld; BCL Industries Ltd (BCLIND): its two data sources disagree by up to 9% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 24 answers restate the Diversified comparison above in question form. Every one is computed from the same 20 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.