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Best NBFC Stocks in India (2026)

NBFC stocks in India represent non-banking financial companies that provide loans, asset financing, housing finance, and other credit services outside the traditional banking system. The sector plays a significant role in India’s credit ecosystem, especially in retail, MSME, and rural lending. The Nifty Financial Services Index includes several large NBFCs, reflecting their growing share in the overall financial sector market capitalisation.

Top NBFC Stocks in 2026

NBFC Stock Screener

NBFC Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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NameStocks (10)↓↓Sub-SectorSub-Sector↓↓Market CapMarket Cap↓↓Close PriceClose Price↓↓PE RatioPE Ratio↓↓1D Return1D Return↓↓1M Return1M Return↓↓6M Return6M Return↓↓1Y Return1Y Return↓↓PB RatioPB Ratio↓↓Return on EquityReturn on Equity↓↓ROCEROCE↓↓Dividend YieldDiv Yield↓↓Debt to EquityDebt to Equity↓↓Volatility vs NiftyVolatility vs Nifty↓
1.Bajaj Finance LtdBAJFINANCEConsumer FinanceConsumer Finance5,17,324.275,17,324.27832.20832.2031.0931.09-5.44-5.44-18.51-18.51-16.15-16.15-4.69-4.695.235.2318.9518.955.185.180.670.673.653.652.012.01
2.Cholamandalam Investment and Finance Company LtdCHOLAFINConsumer FinanceConsumer Finance1,23,979.931,23,979.931,455.101,455.1029.0829.08-4.53-4.53-14.74-14.74-8.54-8.54-3.84-3.845.245.2419.7119.713.033.030.140.147.407.402.252.25
3.Bajaj Holdings and Investment LtdBAJAJHLDNGAsset ManagementAsset Management1,07,665.341,07,665.349,674.009,674.0016.5116.51-1.88-1.88-15.24-15.24-26.75-26.75-18.50-18.501.481.489.619.618.988.980.960.960.000.002.332.33
4.Aditya Birla Capital LtdABCAPITALDiversified FinancialsDiversified Financials81,806.0981,806.09312.30312.3024.5524.55-4.92-4.92-10.85-10.858.018.0182.8682.862.532.5310.9310.933.223.22--4.334.332.382.38
5.Central Depository Services (India) LtdCDSLStock Exchanges & RatingsStock Exchanges & Ratings24,958.7824,958.781,194.201,194.2047.3947.39-3.19-3.19-12.26-12.26-24.51-24.511.791.7913.8413.8431.8131.8137.6637.661.051.050.000.002.482.48
6.CreditAccess Grameen LtdCREDITACCConsumer FinanceConsumer Finance18,477.7318,477.731,153.801,153.8034.7734.77-2.90-2.90-10.06-10.06-15.37-15.3722.2522.252.662.667.867.862.592.59--2.942.942.942.94
7.Arman Financial Services LtdARMANFINConsumer FinanceConsumer Finance1,541.931,541.931,466.701,466.7029.6129.61-1.33-1.33-14.03-14.031.411.4124.0324.031.761.766.176.173.373.37--1.411.413.113.11
8.Consolidated Finvest & Holdings LtdCONSOFINVTAsset ManagementAsset Management710.47710.47219.78219.786.566.56-2.59-2.59-9.88-9.8815.6715.6718.6518.650.690.6911.8011.806.316.310.510.510.000.002.922.92
9.Coral India Finance and Housing LtdCORALFINACReal EstateReal Estate123.04123.0430.5330.537.047.04-2.55-2.55-13.00-13.00-33.92-33.92-17.06-17.060.560.568.658.659.219.211.311.310.000.002.982.98
10.Capital Trust LtdCAPTRUSTConsumer FinanceConsumer Finance40.1440.1411.8511.8535.8435.841.111.11-15.30-15.30-59.29-59.29-80.58-80.580.470.471.381.380.870.87--1.181.183.713.71
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Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.

Selection criteria: NBFC Stocks, based on publicly available information and is sorted by market cap.

Union Budget 2026-27 Updates Affecting the Financial Sector

Union Budget 2026–27 combined financial-sector reforms with capital-market and tax changes that can influence banking structure, bond market depth, foreign portfolio flows, and trading costs in the derivatives market.

  1. Banking sector review: Proposal to set up a “High Level Committee on Banking for Viksit Bharat” to review the sector with a focus on financial stability, inclusion, and consumer protection.
  2. NBFC restructuring: Proposal to restructure Power Finance Corporation (PFC) and Rural Electrification Corporation (REC) as a first step to improve scale and efficiency in public sector NBFCs.
  3. Foreign investment rules: Proposal for a comprehensive review of FEMA (Non-debt Instruments) Rules to make the foreign investment framework more contemporary and user-friendly.
  4. Securities Transaction Tax (STT) Changes: Futures: STT on equity futures increased from 0.02% to 0.05%. Options (premium): STT on options premium increased from 0.10% to 0.15%. Options (exercise): STT on exercised options increased from 0.125% to 0.15%.
  5. Buyback Tax Overhaul: Buyback taxation was restructured so that buyback gains for all shareholders (not just non-corporate shareholders) are taxed under capital gains, aligning the tax treatment across investor types. For promoter shareholders, the effective tax rate on buyback gains can rise up to 22% (corporate) and 30% (non-corporate), depending on the tax profile of the investor.

How to Invest in NBFC Stocks?

Investing in NBFC stocks using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in NBFC stocks:

  1. Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
  2. Search for NBFC Stocks: Go to Tickertape Stock Screener and select “NBFC Stocks” that aligns with your investment thesis.
  3. Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or dividend yield. You can create your own custom filter, in case your preferred parameters are not available. This can help you narrow down the top NBFC or finance stocks in India.
  4. Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in depth.
  5. Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
  6. Invest Through Your Broker: Once you’ve decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.

Overview of the Best NBFC Stocks in India

Bajaj Finance Ltd

Bajaj Finance Ltd is India's largest non-banking financial company providing consumer lending, mortgages, SME finance, gold loans, and deposits. Incorporated in 1987 as Bajaj Auto Finance and NSE-listed since 1995, the Pune-based RBI Upper Layer NBFC-ICC manages assets under management of ₹4.6 lakh crore serving 110+ million customers across India.

Cholamandalam Investment and Finance Company Ltd

Cholamandalam Investment and Finance Company Ltd provides vehicle finance, home loans, SME lending, and diversified financial services as part of Murugappa Group. Established in 1978 and NSE-listed, the Chennai-based company operates 1,600+ branches with ₹1.99 lakh crore assets under management, employing 54,000+ staff and serving 4.3+ million customers across India.

Bajaj Holdings and Investment Ltd

Bajaj Holdings & Investment Ltd operates as the flagship investment holding company of Bajaj Group holding strategic stakes in Bajaj Auto and Bajaj Finserv. Originally incorporated in 1945 as Bachraj Trading Corporation and renamed following 2007 demerger, the NSE-listed Pune-based RBI-registered NBFC holds 33.43% in Bajaj Auto and 39.29% in Bajaj Finserv.

Aditya Birla Capital Ltd

Aditya Birla Capital Ltd is a systemically important NBFC providing comprehensive financial services including loans, insurance, asset management, wealth management, and payments. Incorporated as the financial services flagship of Aditya Birla Group and NSE-listed, the Mumbai-based company manages ₹6 lakh crore assets under management with ₹1.9 lakh crore lending book through 1,700+ branches.

Central Depository Services (India) Ltd

Central Depository Services (India) Ltd operates India's largest securities depository providing dematerialisation and settlement services for equities, bonds, mutual funds, and government securities. Incorporated in 1999 and NSE-listed since 2017, the Mumbai-based Market Infrastructure Institution is the first Asian depository to get listed, serving 60+ mn demat accounts with ₹37 tn assets.

What Are NBFC Stocks?

NBFCs are financial institutions that provide services similar to banks—like lending, asset financing, and investments—but cannot accept demand deposits (like current or savings accounts).

They are regulated by the Reserve Bank of India (RBI) under stricter norms since the IL&FS crisis of 2018. Unlike banks, NBFCs rely heavily on market borrowings and bank loans for funding. This makes them agile, niche-focused, and often more innovative—but also more vulnerable to liquidity shocks.

NBFCs’ Role in India’s Economy

NBFCs play a complementary and sometimes superior role to banks, especially in:

  1. Rural & semi-urban financing
  2. MSME credit
  3. Consumer durable loans
  4. Vehicle finance and leasing
  5. Gold loans and microfinance

They account for nearly 20% of India’s total credit and are instrumental in financial inclusion, especially where traditional banks are absent. In the post-COVID years, NBFCs have also benefited from a revival in consumer demand, strong digital onboarding, and a greater risk appetite compared to PSU banks. With India’s GDP expected to grow at 6.5–7% annually through 2030, credit demand from consumers and businesses is expected to remain robust, making NBFCs central to India’s economic blueprint.

Features of NBFC Stocks in India

Diverse Lending Segments

NBFC stocks in India represent companies operating across retail loans, vehicle finance, MSME lending, gold loans, housing finance, and microfinance. Each segment carries different risk and margin profiles, leading to varied earnings behaviour across listed NBFCs.

Higher Yield, Higher Credit Risk

Compared to banks, many NBFCs lend to underserved or niche borrower categories. This often results in higher lending yields, but it may also expose companies to elevated credit risk during economic slowdowns or liquidity stress periods.

Dependence on Market Borrowings

NBFCs typically rely on market instruments such as bonds, commercial paper, and bank borrowings for funding. Changes in interest rates, liquidity conditions, or credit spreads can directly affect their cost of funds and profitability.

Regulatory Oversight by RBI

The Reserve Bank of India classifies and regulates NBFCs based on size and activity. Compliance norms related to capital adequacy, provisioning, liquidity coverage, and governance significantly influence operational flexibility and financial performance.

Advantages of Investing in NBFC Stocks

Higher Growth Potential

NBFCs often grow faster than banks by targeting niche segments like gold loans or consumer durables. Bajaj Finance’s 5-year PAT CAGR (2019–2024) of ~30% illustrates this trend.

Better Yields and Margins

NBFCs can price loans higher due to deeper credit penetration, limited competition, and smaller ticket sizes—resulting in higher Net Interest Margins (NIMs).

Financial Inclusion Opportunity

NBFCs are at the forefront of serving first-time borrowers, particularly in Tier-2/3 cities. Their scalable model aligns with India’s rising consumption and rural aspirations.

Asset-Light and Tech-Led Models

Digital-first onboarding, analytics-based underwriting, and partnerships with fintechs (e.g., Paytm, Navi, KreditBee) make NBFCs more agile and tech-driven.

Policy Push

RBI’s efforts to formalise and digitise credit (e.g., Account Aggregator Framework, Public Credit Registry) may benefit well-governed NBFCs with clean books.

Risks of Investing in NBFC Stocks

Asset Quality Deterioration

NBFCs often serve riskier borrower segments, especially in unsecured loans and microfinance. During economic slowdowns or rural stress periods (such as monsoons or elections), NPAs can spike.

Liquidity Risk

NBFCs rely more on short-term borrowings. Any credit market freeze (like post-IL&FS) can disrupt funding, especially for smaller NBFCs.

Interest Rate Sensitivity

A rise in interest rates increases borrowing cost for NBFCs. If lending rates don’t rise proportionately, profit margins shrink.

Regulatory Overhang

Stricter RBI norms on capital adequacy, provisioning, and risk-based classification could curtail growth or raise compliance costs.

Concentration Risks

NBFCs with high exposure to a single asset class (e.g., gold, two-wheelers) or region (e.g., microfinance in eastern India) face heightened default risk in local stress events.

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Factors to Consider Before Investing in NBFC Stocks

Asset Quality

Look for companies with Gross NPA < 4%, healthy Provision Coverage Ratio (>60%), and stable delinquency trends across product lines.

Capital Adequacy & Gearing

A CRAR > 18% and debt-to-equity < 4x is generally considered stable for large NBFCs. Smaller NBFCs must maintain capital buffers for volatile markets.

NIM and Spread Sustainability

A steady or improving NIM trend (>6%) shows pricing power and funding efficiency. Check if spread compression is affecting bottom-line growth.

Diversification of Loan Book

Companies with broad exposure across geographies and sectors reduce event-based risks such as floods, agricultural shocks, or regulatory caps.

Funding Mix

Balanced reliance on banks, bonds, securitisation, and retail NCDs suggests a resilient funding strategy.

Tech and Digital Capability

NBFCs that invest in AI-based credit scoring, paperless onboarding, and analytics can scale operations efficiently at lower incremental costs.

Conclusion

NBFCs stand at the crossroads of India’s credit revolution, bridging the gap where traditional banks often hesitate. Their agility, deep regional reach, and specialised lending models have enabled them to cater to underserved segments like MSMEs, rural borrowers, and emerging urban consumers. But this opportunity doesn’t come without risk. Operating in a tightly regulated, interest rate-sensitive, and credit-risk-heavy environment, NBFCs require careful scrutiny.

The key to successful investing in NBFC stocks lies in thoroughly examining NBFC stocks that align with your investment thesis. Therefore, with over 200+ filters, you can evaluate NBFC stocks on Tickertape Stock Screener based on various parameters.

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Frequently Asked Questions on NBFC Stocks

  1. What are NBFC Stocks?

    Stocks of Non-Banking Financial Companies that provide credit, investment, and asset financing services outside the traditional banking system.

  2. What are the top NBFC stocks in India?

    Top-performing NSE-listed NBFC stocks in India based on 1Y returns include:
    1. Aditya Birla Capital Ltd
    2. Central Depository Services (India) Ltd
    3. Consolidated Finvest & Holdings Ltd
    4. Cholamandalam Investment and Finance Company Ltd
    5. Arman Financial Services Ltd

    Disclaimer: Please note that the above NBFC share list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.

  3. How to invest in NBFC Stocks?

    1. Go to the Tickertape Stock Screener
    2. Select the 'NBFC' stocks.
    3. From the NBFC stocks, analyse and sort the NBFC stocks using over 200+ filters—including valuation ratios, financials, technical indicators, and more—based on your investment thesis.
    4. Review the filtered list, and identify stocks that best align with your risk appetite, return expectations, and investment goals.
    5. Once you've shortlisted the stocks, click ‘Place Order’ to invest in your preferred NBFC stocks.

    Disclaimer: Please do your own research or consult your financial advisor before investing.

  4. What is the future projection of NBFC stocks?

    Based on the latest news and reports, here's the future projection of NBFC Sector -
    1. NBFC credit to reach ₹77 tn by FY28 (~17% CAGR).
    2. Digital lending and MSME financing drive growth.
    3. Credit-to-GDP ratio up from 16% to 26%.
    4. Loan book growth outpaces banks.

    Disclaimer: This is only for educational purposes as the latest data is derived from major financial research reports.

  5. Do NBFC stocks offer regular dividends?

    Dividend practices among NBFCs vary. Some well-established NBFCs like Bajaj Finance and HDFC Ltd (before its merger) have paid dividends consistently. That said, payout depends on regulatory norms, provisioning needs, and overall financial health.

  6. What are the factors affecting NBFC share prices?

    NBFC share prices are influenced by interest rate trends, credit growth, asset quality (NPA levels), regulatory announcements from RBI, liquidity conditions, and competition from banks and fintechs. Investor sentiment towards financials and macroeconomic health also play important roles.

  7. Are there any NBFC penny stocks in India?

    The following is the NBFC penny stocks list under ₹20, as of 23rd February:
    1. Capital Trust Ltd


    Disclaimer: Please note that the above NBFC penny stocks list is not a recommendation. Please do your own research or consult your financial advisor before investing.

Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment advice, recommendation, offer, solicitation to buy/hold/sell any securities/investment products. The securities quoted if any, are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.