Price-to-Earnings, PB Ratio & Dividend Yield
Last updated
Infra is trading 4.1% below its 3-year median PE of 21.8. The sector is trading near its historical average. Valuations are neither cheap nor expensive.
Based on the last 3 years of Infra data (avg PE: 21.9), here are the valuation zones:
| Infra PE Range | Market Valuation | What Investors Typically Do |
|---|---|---|
| Below 19.7 | Undervalued (Buying Zone) | Historically strong entry points for long-term investors |
| 19.7 – 24.1 | Fairly Valued | Continue SIPs and regular investing with normal allocation |
| 24.1 – 26.3 | Getting Expensive | Be cautious, continue SIPs but avoid lump sum investments |
| Above 26.3 | Overvalued (Caution Zone) | Consider booking partial profits |
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 20.9 | 21.7 | 20.1 | 21.0 | 21.5 | 20.8 | — | — | — | — | — | — |
| 2025 | 23.6 | 21.9 | 21.9 | 23.7 | 23.9 | 23.8 | 23.8 | 22.0 | 21.8 | 22.3 | 21.7 | 21.5 |
| 2024 | 19.8 | 20.1 | 20.5 | 21.3 | 21.7 | 22.1 | 23.4 | 24.5 | 24.9 | 24.3 | 24.4 | 24.9 |
| 2023 | 21.1 | 21.0 | 20.9 | 21.4 | 21.9 | 22.7 | 23.7 | 19.4 | 19.3 | 19.3 | 17.2 | 18.6 |
| 2022 | 18.4 | 16.5 | 15.7 | 16.8 | 15.5 | 15.2 | 15.2 | 17.2 | 17.9 | 18.1 | 20.5 | 21.4 |
| 2021 | 51.5 | 53.5 | 54.1 | 33.8 | 30.2 | 25.4 | 22.6 | 19.4 | 19.8 | 20.8 | 18.9 | 17.6 |
| 2020 | 24.9 | 25.8 | 20.5 | 20.2 | 22.8 | 28.0 | 38.4 | 59.8 | 67.6 | 66.3 | 44.1 | 48.9 |
| 2019 | 33.9 | 33.5 | 37.4 | 37.7 | 40.2 | 58.1 | 40.4 | 43.4 | 41.3 | 20.5 | 22.2 | 24.4 |
| 2018 | 64.4 | 65.9 | 65.0 | 64.6 | 65.4 | 59.0 | 35.9 | 35.4 | 34.2 | 30.3 | 33.3 | 34.6 |
| 2017 | 21.2 | 22.6 | 22.5 | 23.7 | 29.6 | 39.0 | 45.3 | 48.4 | 48.7 | 42.4 | 52.3 | 63.5 |
| 2016 | — | — | — | — | — | 22.0 | 23.2 | 23.1 | 22.9 | 23.8 | 22.2 | 20.2 |
Monthly average P/E ratios. Colors relative to 3Y average (21.9): green = below avg, blue = near avg, orange = above avg, red = well above avg.
“—” = PE data unavailable for that month. This happens when aggregate index earnings are negative or near-zero, making the PE ratio undefined.
| Year | PE Avg | PE Low | PE High | PB Avg | DY Avg |
|---|---|---|---|---|---|
| 2026 | 21.05 | 19.38 | 22.06 | 3.06 | 1.03% |
| 2025 | 22.69 | 20.64 | 24.65 | 3.05 | 1.08% |
| 2024 | 22.65 | 19.20 | 25.69 | 3.29 | 1.17% |
| 2023 | 20.56 | 16.96 | 24.37 | 2.97 | 1.39% |
| 2022 | 17.37 | 14.52 | 21.84 | 2.91 | 2.01% |
| 2021 | 30.32 | 16.91 | 56.56 | 2.76 | 1.77% |
| 2020 | 39.56 | 16.70 | 70.76 | 2.04 | 2.08% |
| 2019 | 35.95 | 19.68 | 60.28 | 2.14 | 1.70% |
| 2018 | 49.16 | 29.64 | 77.99 | 2.20 | 1.39% |
| 2017 | 38.28 | 20.52 | 66.10 | 2.15 | 1.12% |
| 2016 | 22.42 | 19.71 | 24.39 | 1.92 | 1.19% |
30 companies in the CNX Infra index
| Company | Price | Day Change | PE TTM | 52W Range |
|---|---|---|---|---|
|
Adani Green Energy Ltd.
ADANIGREEN
|
N/A | N/A | N/A | N/A |
|
Adani Ports and Special Economic Zone Ltd.
ADANIPORTS
|
₹1,803.8 | -0.6% | 35.1 |
Low ₹1,291
High ₹1,843
|
|
Ambuja Cements Ltd.
AMBUJACEM
|
₹427.0 | -2.8% | 25.2 |
Low ₹394
High ₹625
|
|
Apollo Hospitals Enterprise Ltd.
APOLLOHOSP
|
₹8,290.5 | +2.5% | 82.4 |
Low ₹6,697
High ₹8,443
|
|
Ashok Leyland Ltd.
ASHOKLEY
|
₹145.8 | -2.2% | 27.6 |
Low ₹115
High ₹215
|
|
Bharat Forge Ltd.
BHARATFORG
|
₹1,936.5 | +1.8% | 96.6 |
Low ₹1,101
High ₹2,044
|
| ₹292.1 | -0.8% | 9.4 |
Low ₹267
High ₹392
|
|
|
Bharti Airtel Ltd.
BHARTIARTL
|
₹1,824.1 | +0.6% | 32.6 |
Low ₹1,741
High ₹2,175
|
| ₹906.7 | -0.1% | 142.3 |
Low ₹526
High ₹944
|
|
|
Cummins India Ltd.
CUMMINSIND
|
₹5,692.5 | -0.3% | 78.9 |
Low ₹3,212
High ₹6,100
|
|
DLF Ltd.
DLF
|
₹581.6 | -1.7% | 33.0 |
Low ₹489
High ₹887
|
|
Fortis Healthcare Ltd.
FORTIS
|
₹930.3 | +0.1% | 90.7 |
Low ₹736
High ₹1,104
|
|
GAIL (India) Ltd.
GAIL
|
₹163.9 | -0.6% | 8.7 |
Low ₹134
High ₹203
|
|
Grasim Industries Ltd.
GRASIM
|
₹3,101.6 | +0.1% | 55.9 |
Low ₹2,503
High ₹3,198
|
|
Hindustan Petroleum Corporation Ltd.
HINDPETRO
|
₹384.1 | +0.1% | 12.1 |
Low ₹316
High ₹508
|
|
Indian Hotels Co. Ltd.
INDHOTEL
|
N/A | N/A | N/A | N/A |
| ₹137.4 | -1.0% | 13.9 |
Low ₹130
High ₹189
|
|
|
Indus Towers Ltd.
INDUSTOWER
|
₹429.2 | +0.0% | 11.5 |
Low ₹313
High ₹482
|
|
InterGlobe Aviation Ltd.
INDIGO
|
₹4,512.1 | +1.0% | 24.0 |
Low ₹3,895
High ₹6,233
|
| ₹3,953.2 | -1.2% | 36.2 |
Low ₹3,288
High ₹4,440
|
|
|
Max Healthcare Institute Ltd.
MAXHEALTH
|
N/A | N/A | N/A | N/A |
|
NTPC Ltd.
NTPC
|
₹366.8 | -0.2% | 15.2 |
Low ₹316
High ₹414
|
| ₹267.8 | +1.0% | 9.3 |
Low ₹229
High ₹308
|
|
|
Power Grid Corporation of India Ltd.
POWERGRID
|
₹285.1 | +1.0% | 17.1 |
Low ₹250
High ₹325
|
|
Reliance Industries Ltd.
RELIANCE
|
₹1,313.2 | -0.1% | 25.5 |
Low ₹1,290
High ₹1,612
|
|
Samvardhana Motherson International Ltd.
MOTHERSON
|
₹145.6 | +0.5% | 39.7 |
Low ₹90
High ₹152
|
|
Shree Cement Ltd.
SHREECEM
|
₹24,775.0 | -0.9% | 79.6 |
Low ₹22,550
High ₹32,490
|
|
Suzlon Energy Ltd.
SUZLON
|
₹54.4 | -0.2% | 36.0 |
Low ₹38
High ₹70
|
|
Tata Power Co. Ltd.
TATAPOWER
|
₹411.8 | -0.8% | 33.2 |
Low ₹343
High ₹465
|
|
UltraTech Cement Ltd.
ULTRACEMCO
|
₹11,101.0 | -0.6% | 54.1 |
Low ₹10,325
High ₹13,110
|
Comprises infrastructure companies like L&T, Adani Ports, NTPC, Power Grid, and Ultratech Cement. The index currently has 30 constituent companies and is categorised under Industrial on Craytheon.
Current Infra PE Ratio today 20.9 | PB 3.05 | Div Yield 1.01%
Disclaimer: The information provided on this page is for educational and informational purposes only. It should not be construed as investment advice, a recommendation, or an offer to buy or sell any securities. Past performance and historical PE ratios do not guarantee future results. Always consult a qualified financial advisor before making investment decisions.
Data Source: Indian Stock Exchange