Last Updated on Dec 7, 2023 by Harshit Singh

List of halal stocks in India (Nifty 50)

Stock Name Sub-Sector Market cap (Rs. in cr.) Close Price (Rs.) PE Ratio (%)
Reliance Industries Ltd Oil & Gas – Refining & Marketing 16,49,304.14 2,461.10 24.73
Tata Consultancy Services Ltd IT Services & Consulting 12,92,230.58 3,604.10 30.66
Hindustan Unilever Ltd FMCG – Household Products 6,02,258.98 2,567.65 59.51
Infosys Ltd IT Services & Consulting 6,01,766.29 1,474.30 24.97
HCL Technologies Ltd IT Services & Consulting 3,56,780.21 1,329.55 24.02
Adani Enterprises Ltd Commodities Trading 3,37,366.23 2,883.95 136.42
Maruti Suzuki India Ltd Four Wheelers 3,37,099.30 10,625.75 41.05
Titan Company Ltd Precious Metals, Jewellery & Watches 3,14,746.83 3,546.90 96.85
Asian Paints Ltd Paints 3,09,346.47 3,252.55 75.33
Sun Pharmaceutical Industries Ltd Pharmaceuticals 2,97,409.57 1,240.35 35.1
UltraTech Cement Ltd Cement 2,68,847.06 9,213.00 53.09
Nestle India Ltd FMCG – Foods 2,37,268.47 24,968.50 99.25
Wipro Ltd IT Services & Consulting 2,10,870.62 418.75 18.58
Bajaj Auto Ltd Two Wheelers 1,73,875.20 6,069.95 28.69
LTIMindtree Ltd IT Services & Consulting 1,62,383.87 5,639.85 36.84
Britannia Industries Ltd FMCG – Foods 1,19,191.27 5,003.15 51.34
Tech Mahindra Ltd IT Services & Consulting 1,19,132.32 1,225.20 24.66
Eicher Motors Ltd Trucks & Buses 1,13,247.24 4,047.00 38.86
Divi’s Laboratories Ltd Labs & Life Sciences Services 99,315.78 3,734.45 54.47
Cipla Ltd Pharmaceuticals 98,856.02 1,205.20 35.28
Dr Reddy’s Laboratories Ltd Pharmaceuticals 96,180.66 5,730.35 21.34
Tata Consumer Products Ltd Tea & Coffee 88,260.75 951.7 73.32
Apollo Hospitals Enterprise Ltd Hospitals & Diagnostic Centres 80,234.71 5,543.10 97.95
Hero MotoCorp Ltd Two Wheelers 76,092.04 3,761.05 27.08

Note: These halal stocks are selected from Nifty 50 and are not sorted based on any criteria.

Halal stocks are stocks from companies compliant with Sharia principles stipulated by Shariah Scholars. Shariah compliant funds work along the lines of the Shariah Law relating to finance. Companies with operations opposing Shariah principles, such as selling pork, alcohol, drugs, gambling, or the sale of weapons, are prohibited under Shariah Law and deemed unfit for investment. 

Key principles of Shariah investment

  • The company’s primary business must be halal (according to Islamic law – Shariah). Under Shariah law, companies engaged in gambling, alcohol, tobacco, etc., are excluded.
  • The total ‘Debt to Equity ratio’ should be lower than 33%.
  • Shariah indices exclude companies with Accounts Receivables/Market equity value greater than or equal to 49 %.
  • In Shariah compliant companies, revenues from non-compliant activities are permissible only if the revenue from the non-permissible income is less than 5%.

Shariah Boards laid down these principles, and 935 companies are compliant with Shariah principles in the Nifty index.


No. of Shariah compliant halal stocks in Nifty index

Sector No. of companies
Consumer Discretionary 58
Real Estate 71
Consumer Staples 347
Health Care 175
Industrials 77
Information Technology 124
Materials 53
Energy 19
Utilities 11

Conclusion

Halal investing necessitates making investment decisions in alignment with Shariah principles. As a faith-based approach to investment management, halal investing is frequently perceived as ethical or socially responsible investing, in stocks adhering to Shariah Principles. Moreover, with the help of Tickertape stock screener, you can evaluate these halal stocks on 200 plus filters, to identify stocks aligning with your financial goals.

Harshit Singh
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