Last Updated on Sep 15, 2023 by Anjali Chourasiya

Best monopoly stocks in India – Updated September 2023

NameSub-SectorPercentage of market share in a segmentMarket Cap (Rs. in cr.)Close Price (Rs.)PE Ratio5Y CAGR (%)
ITC LtdFMCG – Tobacco77% in cigarettes5,57,669.01447.2029.068.52
Nestle India LtdFMCG – Foods96.5% share in the cereal industry2,13,339.5422,127.0589.2417.10
Coal India LtdMining – Coal82% in coal production1,71,909.31278.956.10-0.29
Hindustan Aeronautics LtdAerospace & Defense Equipment100% in defence manufacturing1,36,520.384,082.7023.4334.96
Hindustan Zinc LtdMining – Diversified78% in the zinc industry1,35,189.08319.9512.862.10
Pidilite Industries LtdDiversified Chemicals70% share in adhesive1,28,322.982,523.75100.7817.78
Marico LtdFMCG – Personal Products73% in oil products75,516.72584.4558.0011.64
Indian Railway Catering and Tourism Corporation LtdOnline Services100% in ticketing business57,392.00717.4057.06
Bharat Heavy Electricals LtdHeavy Electrical Equipments67% in the power equipment sector48,696.66139.85102.0112.65
APL Apollo Tubes LtdBuilding Products – Pipes50% share in the pre-galvanised and structural tube industry47,992.101,730.5074.7762.25
Container Corporation of India LtdLogistics68.52% in cargo carrier44,697.83733.6038.087.68
Central Depository Services (India) LtdStock Exchanges & Ratings59% in depository business14,534.911,390.9052.6739.96
Computer Age Management Services LtdDiversified Financials70% within the mutual fund industry12,765.842,604.6044.75
Indian Energy Exchange LtdPower Trading & Consultancy95% in the short-term electricity contracts in India12,466.97140.2040.7619.60
Praj Industries LtdConstruction & Engineering60% in the ethanol plant installation industry10,869.38591.6545.3343.79
Multi Commodity Exchange of India LtdStock Exchanges & Ratings92% in India’s commodities exchange sector9,095.571,786.8561.0618.27

Note: The stocks are listed according to their market cap, from highest to lowest. The data is from 13th September 2023.

Details of top 8 monopoly stocks of 2023

ITC Ltd

Founded in 1910, ITC is an Indian conglomerate company diversified into sectors such as FMCG, software, hotels, speciality papers, paperboards, packaging and agribusiness. The company has 13 businesses in 5 segments and exports its products to 90 countries worldwide. 

  • Over the last 5 yrs, the revenue growth has averaged 10.11%, vs the industry average of 9.99%.
  • The stock shows good signs of profitability and efficiency but lags behind in terms of financial growth.
  • There are no red flags found in the stock.

Nestle India Ltd

The large-cap company, Nestle India is an Indian subsidiary of the Swiss multinational company Nestlé. The company’s products include food, beverages, chocolate, and confectioneries. Nestle was founded in 1959. 


  • As per the Tickertape Scorecard, the profitability score of Nestle India Ltd is 8 out 10, showing good signs of profitability and efficiency.
  • The stock seems to be overvalued vs the market average. However, there are no red flags.

Coal India Ltd

This large-cap company is an Indian central public sector undertaking under the ownership of the Ministry of Coal, Government of India. Coal India is the largest government-owned coal producer worldwide. 

  • Over the last 5 yrs, the revenue growth has averaged 10.84%, which is equal to the industry average. The same pattern can be observed for net income, debt-to-equity ratio, current ratio, and free cash flow.
  • The stock shows good signs of profitability and efficiency but lags behind in terms of financial growth.
  • There are no red flags found in the stock.

Hindustan Aeronautics Ltd (HAL)

Founded in 1940, HAL is an Indian state-owned aerospace and defence large-cap company. It is one of the largest and oldest aerospace and defence manufacturers globally. 

  • Over the last 5 yrs, the revenue growth has averaged 8.21%, vs the industry average of 5.88%. The stock is also ahead of its industry average in terms of net income. However, in comparison between the industry’s debt-to-equity ratio and current ratio to the HAL, the latter lags behind. 
  • As per the Tickertape Scorecard, the stock scores 8.3 out of 10 in terms of profitability, showing good signs of profitability and efficiency. However, the stock’s performance, valuation, and growth score are average. 
  • There are no red flags found in the stock.

Hindustan Zinc Ltd (HZL)

The large-cap mining company is engaged in the mining and smelting of zinc, lead and silver metal in India. It was founded in 1966. 

  • Over the last 5 yrs, the stock is underperforming in terms of revenue and net income in comparison to its industry average for both parameters. The same trend can be seen for its debt-to-equity ratio and free cash flow growth. On the contrary, the current ratio has been 305.45%, vs the industry average of 295.6% during the same period.
  • The stock has a profitability score of 9 out of 10. However, the stock is overvalued and lags behind in terms of performance and growth.
  • The stock has a moderate number of red flags.

Pidilite Industries Ltd

Founded in 1959, Pidilite Industries is an Indian adhesive and glue manufacturing company. 

  • Over the last 5 yrs, the stock is lagging in revenue and net income growth compared to the industry average. On the other hand, the stock’s debt-to-equity ratio and current ratio are higher than the industry average.
  • The stock is currently in an average position in terms of performance, while it lags behind in financial growth. However, in terms of profitability, the stock shows good signs of profitability and efficiency, with a score of 7.5 out of 10.
  • There are no red flags found in the stock.

Marico Ltd

The large-cap company, Marico, founded in 1990, is a consumer products company operating in the beauty and wellness space. The company’s principal products include edible oils and value-added hair oils. The well-known brands include Saffola, Livon, Parachute, Hair & Care and Nihar. 

  • Over the last 5 yrs, the stock has been ahead of its industry average in revenue, net income, debt-to-equity ratio, current ratio, and free cash flow growth.
  • As per the Tickertape Scorecard, the stock is average in terms of performance and lags behind in financial growth. However, the stock has an above-average profitability score, 7.8 out of 10.
  • There are no red flags found in the stock.

Indian Railway Catering and Tourism Corporation Ltd (IRCTC)

This large-cap company is an Indian public sector undertaking that provides ticketing, catering, and tourism services for the Indian Railways. 

  • Over the last 5 yrs, the stock has been ahead of its industry average in revenue, net income, debt-to-equity ratio, and free cash flow growth. During the same period, the current ratio has been 172.5%, vs the industry average of 325.81%.
  • The stock has a profitability score of 8.5 out of 10. However, the stock is overvalued and among the low performers. The financial growth of the stock has been moderate for a few years.
  • There are no red flags found in the stock.

What are monopoly stocks? 

It is called monopoly competition when there is no or less market competition due to a single seller’s presence. Stocks of those companies that don’t have competition or very few are called monopoly stocks. These companies usually control the market and are solo or large players in the market.  

For example, Indian railways. IRCTC is the only railway service provider of railways service in India. And also, they have control over their service prices.

Is it good to invest in monopoly stocks in India?

Monopoly companies have less or no competition in the market. This gives them a big market share, becoming the market leaders. In such cases, the companies can offer good profits to investors. Monopoly stocks can offer good profits when held for a long time. However, you must check their historical performance, management, and future goals before deciding.  

FAQs 

What makes a company a monopoly business?

In the market, when there is a single or limited seller of a product or service with high demand and where the primary seller gets to decide the price of the product or service, it is considered that the company is a monopoly company. 

What are the top large-cap monopoly stocks in India?

There are different monopoly stocks in India, as listed above. According to the market cap, the top three large-cap monopoly stocks in India are ITC, Nestle and Hindustan Zinc.

Nikitha Devi
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