10 Best Finance Stocks in India 2023

Finance Companies are said to be the lifeline of the economy as it is not restricted to a single industry, Almost all industries thrive on financial companies for fund assistance. Finance companies supply credit for the purchase of consumer goods and services and also grants small loans directly to consumers.

Finance companies are largely traded on the Indian stock market as many of such companies are even part of the Nifty50 on a regular basis. Let us see some of the top finance companies that are listed on the indian share market

Sl NoStock NameMarket Capital
1Geojit Financial Services₹ 1,219.24 Cr.
2REC₹ 23,955.76 Cr.
3Bajaj Finserv₹ 1,86,608.55 Cr.
4HDFC Life insurance₹ 1,13,509.07 Cr.
5CRISIL₹ 24,147.06 Cr.
6SBI Life insurance₹ 1,13,949.53 Cr.
7Power Finance Corp₹ 28,499.68 Cr.
8Max Financial₹ 28,799.83 Cr.
9SBI Cards and Payments₹ 79,771.68 Cr.
10ICICI Lombard General Insurance₹ 61,412.74 Cr.

1. Geojit Financial Services

Geojit Financial Services

One of the country’s leading investment services company, Geojit Financial services ltd has a huge customer base and trades around 64000 crores worth of investment funds under their custody as at 31st march 2022. They have been in the Indian market for over 35 years and have built a customer base of 12 Lakh numbers.

have recently come up with their Geojit Selfie which is an advanced trading platform that makes investing easy, reliable and helps one make informed choices.

The shares are currently trading at Rs 49.

Market Cap₹ 1,219.24 Cr.
Sales Growth41.23%

2. REC


REC Limited, formerly Rural Electrification Corporation Limited is a government owned company that takes care of financing to entities that are involved in construction and infrastructure. It has a dividend payout ratio of 10.67% and It is currently trading at Rs 119. It is one of the most famously traded finance stocks on the indian share market currently.

Market Cap₹ 23,955.76 Cr.
Sales Growth18.70%

3. Bajaj Finserv


Bajaj finserv ltd is an indian non banking financial institution. It is one amongst many finance companies under the bajaj group companies. It is a core investment company that provides financial solutions for retail and SME customers through their life cycle. Bajaj finserv funds many purposes such as insurance, retirement planning, wealth planning etc

The stock is currently trading at Rs 11,356

Market Cap₹ 1,86,608.55 Cr.
Sales Growth-58.49%

4. HDFC Life Insurance


HDFC life insurance as the name suggests, is a long term life insurance provider formed in the year 2000. It is headquartered in Mumbai and offers both individual and group insurance services. It has many subsidiaries such as Excide life insurance and its parent organizations are HDFC, Standard life etc.

It is currently trading at around Rs 573.

Market Cap₹ 1,13,509.07 Cr.
Sales Growth-16.83%



Crisil is an Indian credit rating company that provides ratings, research, and risk and policy advisory. It was formed in the year 1987 in mumbai and set up its headquarters in mumbai. A credit rating agency is a company that assigns credit ratings, which rate a debtor’s ability to pay back debt by making timely principal and interest payments and the likelihood of default.

It is currently trading at Rs 3315

Market Cap₹ 24,147.06 Cr.
Sales Growth18.47%

6. SBI Life Insurance

SBI Life Insurance

SBI Life insurance is an indian life insurance company that was incorporated in the year 2001 and operated under its parent company state bank of india which is government owned. It was started as a joint venture between State Bank of India and French financial institution BNP Paribas Cardif. It is an ISO 22301 certified Insurance Company for its Business Continuity Management System.

The stock is currently trading at a price of Rs 1133.

Market Cap₹ 1,13,949.53 Cr.
Sales Growth-71.61%

7. Power Finance Corp

Power Finance Corp

Power finance corporation limited is an Indian public sector undertaking backed company that funds the entire country’s electricity sector and many such related companies. PFC bonds hold the highest credit rating in the country’s market and in international markets. Power fin corp has been lending to power projects across the country since its inception. It is a fundamentally strong share and pays out at a dividend yield rate of 10.7%. It is currently trading at around 110. rs per share.

Market Cap₹ 28,499.68 Cr.
Sales Growth9.29%

8. Max Financial

Max Financial

Max financial services is a life insurance company and it is India’s largest non-bank, private life insurance company. They own a majority stake in Max life insurance company which is a joint venture between them and Mitsui Sumitomo Insurance (MSI), a Japan-headquartered global leader in life insurance.They focus on long-term savings and protection products and superior management of costs.

It is currently trading at Rs 808.

Market Cap₹ 28,799.83 Cr.
Sales Growth-38.10%

9. SBI Cards and Payments

SBI Cards and Payments

SBI Cards and payments limited was formed in the year 1998 and it was previously known as SBI Cards & Payment Services Private Limited. It is a credit card company launched by the State bank of india. It is operated under its parent company State Bank of India which is government owned. It is headquartered in Gurugram and is currently trading at Rs 733

Market Cap₹ 79,771.68 Cr.
Sales Growth0.01

10. ICICI Lombard General Insurance

ICICI Lombard General Insurance

ICICI Lombard is one of the largest finance companies in India and It is engaged in general insurance, reinsurance, insurance claims management and investment management. It was founded in t he year 2001 and is headquartered in mumbai. It is listed in both NSE and BSE.

The shares are currently trading at Rs 1140

Market Cap₹ 61,412.74 Cr.
Sales Growth26.64%

Equity shares tend to be more volatile than others because both the supply and demand are relatively price elastic. Investors are requested to take caution and follow conservatism while trading. Happy Trading.

Are finance stocks in India affected by global economic conditions?

Yes, finance stocks in India can be affected by global economic conditions such as changes in interest rates, currency fluctuations, and economic policies of major countries.

Can I invest in finance stocks in India if I am not an Indian citizen?

Yes, non-Indian citizens can invest in finance stocks in India through the Foreign Portfolio Investment (FPI) route, subject to certain restrictions and guidelines.

Are finance stocks recession-proof?

While no stock or sector can be completely recession-proof, some finance stocks may be more resilient during economic downturns than others. Finance stocks are generally considered to be defensive stocks because people and businesses will still need financial services even during a recession.

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