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Nifty India Manufacturing P/E ratio today

Price to earnings (P/E), price to book (P/B) and dividend yield for the Nifty India Manufacturing, which is currently slightly expensive — the 61st percentile of 1,253 daily closes since 2016. Close of 11 Sept 2026.

Every NSE index, cheapest first

How the Nifty India Manufacturing’s valuation reads today

  • Against the market. The Nifty India Manufacturing trades at 1.39× the Nifty 50’s P/E, against a median of 1.23× across 1,253 days they were both priced — a wider premium than usual. A sector can look dear on its own numbers while being cheap against the market, and that gap is usually the more useful of the two.
  • The range it has actually traded in. Its P/E has been as low as 15.94 (Jul 2022) and as high as 34.36 (Sept 2024). Both ends are real closes, not a model — and the high end of an index P/E is usually an earnings collapse rather than a price melt-up, which is why the bands below are percentiles and not a mean.
  • Versus a year ago. 27.59 today, down from 28.41 a year ago. The ratio moves on price and on earnings, so a falling P/E can mean the index got cheaper or that its constituents earned more — the Nifty India Manufacturing level itself is what separates the two.
Price to earnings
27.59Slightly expensive

61st percentile of 1,253 days · median 26.79

Price to book
3.97Fairly valued

30th percentile of 1,253 days · median 4.20

Dividend yield
0.86%Expensive

1st percentile of 1,253 days · median 1.21

Where the Nifty India Manufacturing P/E ratio sits today

Valuation zones for the Nifty India Manufacturing price to earnings
ZoneP/E rangeWhat it has meant
Undervaluedbelow 18.42Historically cheap — the zone that has rewarded adding, not waiting.
Fairly valued18.42 – 26.79Nothing to act on. Keep SIPs running at their normal size.
Slightly expensiveyou are here26.79 – 30.41Above the ten-year middle. Stagger a lump sum rather than timing it.
Expensiveabove 30.41Historically dear — rebalancing to your target allocation is the honest response.

Bands are the 10th and 90th percentiles of 1,253 daily closes, with the median as the middle line — so the cheapest and dearest tenth of this index’s own history bound the outer zones, and one freak print cannot move them. They describe where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

All three, since 2016

Each cell is the median of that month’s daily closes — one day’s print can be an earnings-revision artefact, and on a grid this size that day would colour the whole month. Hover a cell for the trading-day count behind it, or the line above it for any day’s close. All three are always shown; the buttons at the top only change which metric the valuation zones describe.

Nifty India Manufacturing P/E ratio, month by month

above +1 SD 29.93median 26.79below −1 SD 21.03
Price to earnings by month, 2016 to 2026, as the median of each month’s daily closes
JanFebMarAprMayJunJulAugSepOctNovDec
2016
·
·
·
·
·
·
26.26
·
·
·
·
·
2021
·
·
·
·
·
·
·
20.23
21.29
21.96
19.97
18.41
2022
19.16
17.69
17.45
19.49
16.95
16.88
16.64
18.86
19.19
19.14
22.35
22.29
2023
22.01
24.55
23.95
24.81
26.58
26.84
28.26
25.45
25.96
25.58
24.36
25.87
2024
26.86
26.21
26.84
28.45
29.93
31.72
31.46
32.26
33.04
32.92
29.98
30.42
2025
28.39
26.51
26.27
27.41
29.25
29.13
29.09
27.66
28.48
28.98
27.85
27.88
2026
28.02
28.46
26.84
28.19
27.88
27.00
27.18
28.61
28.03
·
·
·
cheapestdearest· shaded by rank among all 63 months, not by absolute value — the series is skewed enough that a linear ramp would flatten a decade into one colour

Nifty India Manufacturing P/B ratio, month by month

above +1 SD 4.65median 4.20below −1 SD 3.83
Price to book by month, 2016 to 2026, as the median of each month’s daily closes
JanFebMarAprMayJunJulAugSepOctNovDec
2016
·
·
·
·
·
·
3.10
·
·
·
·
·
2021
·
·
·
·
·
·
·
3.87
4.00
4.00
3.96
3.83
2022
3.99
3.90
3.85
4.28
3.91
3.80
3.69
3.83
3.80
3.92
4.01
4.01
2023
3.93
3.89
3.72
3.85
3.98
4.21
4.53
4.58
4.53
3.63
3.73
3.96
2024
4.13
4.34
4.50
4.77
5.06
5.37
5.22
5.23
5.21
4.79
4.47
4.53
2025
4.20
4.04
4.00
4.23
4.57
4.60
4.37
4.14
4.21
4.33
4.33
4.29
2026
4.33
4.44
4.20
4.45
4.55
4.44
4.22
4.22
4.03
·
·
·
cheapestdearest

Nifty India Manufacturing dividend yield, month by monthgreen is a HIGH yield, which is the cheap end

above +1 SD 1.65median 1.21below −1 SD 0.99
Dividend yield by month, 2016 to 2026, as the median of each month’s daily closes
JanFebMarAprMayJunJulAugSepOctNovDec
2016
·
·
·
·
·
·
0.99
·
·
·
·
·
2021
·
·
·
·
·
·
·
1.29
1.52
1.48
1.50
1.62
2022
1.61
1.62
1.65
1.44
1.78
1.96
2.06
2.13
1.92
1.74
1.65
1.69
2023
1.65
1.71
1.71
1.86
1.61
1.60
1.44
1.37
1.32
1.29
1.31
1.22
2024
1.26
1.14
1.13
1.00
0.96
0.89
0.91
1.00
1.05
1.08
1.14
1.11
2025
1.13
1.23
1.22
1.16
1.09
1.11
1.14
1.14
1.06
0.99
1.01
1.01
2026
1.01
0.97
1.06
1.04
1.02
1.05
1.01
0.92
0.84
·
·
·
cheapestdearest

Frequently asked questions

What is the Nifty India Manufacturing P/E ratio today?

The Nifty India Manufacturing closed at a price-to-earnings ratio of 27.59 on 11 September 2026. NSE publishes it once a day after the close, on a consolidated trailing-twelve-month basis, so it moves on the index and on quarterly earnings revisions — there is no intraday figure.

Is the Nifty India Manufacturing overvalued right now?

Against its own history it is slightly expensive: a P/E of 27.59 is the 61st percentile of 1,253 daily closes, with a ten-year median of 26.79. That describes where this index has traded, not where it should — a market can stay expensive for years, and this is not a signal to act on.

What is a good P/E ratio for the Nifty India Manufacturing?

There is no single good number, but there is a measured middle: 18.42 to 30.41 is the middle 80% of 1,253 daily closes, and the median sits at 26.79. Below 18.42 is the cheapest tenth of this index's own history and above 30.41 the dearest tenth. Compare it to the index's own past rather than to another market's — earnings mix and growth differ, so an Indian P/E and a US one are not the same quantity.

What is the Nifty India Manufacturing P/B ratio?

The Nifty India Manufacturing price-to-book ratio is 3.97 as of 11 September 2026, against a ten-year median of 4.20. P/B compares the index to the book value of its constituents' assets, which makes it the steadier of the two — book value does not swing on one quarter's earnings the way a P/E denominator can.

What is the Nifty India Manufacturing dividend yield?

The Nifty India Manufacturing dividend yield is 0.86% as of 11 September 2026, against a ten-year median of 1.21%. It reads backwards from the other two: a HIGH yield is the cheap end, because the same dividends are being bought for a lower price.

How often does this page update, and where do the numbers come from?

From NSE's own daily index file, which carries P/E, P/B and dividend yield for every index it prices — 142 of them have a meaningful P/E today. It is published once after each close and picked up by the hourly refresh, so the figures here are the last published close, never a live quote.

Nearby indices

Nifty India DigitalNifty India FPI 150Nifty India Infrastructure & LogisticsNifty India InternetNifty India New Age ConsumptionNifty India Railways PSUNifty India Select 5 Corporate Groups (MAATR)Nifty India Tourism

How to read these numbers

How to read an index P/E ratio

Consolidated trailing-twelve-month, free-float weighted, one value a day — and why the absolute number tells you almost nothing on its own.

Is the market expensive?

Valuation predicts ten-year returns and not next year’s. What that gap means, and when a reading should change anything.

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