India’s financial technology (fintech) sector is witnessing rapid growth, transforming how people manage money, make payments, invest, and access credit. With the government’s focus on digital inclusion and a tech-savvy population, several listed fintech companies are driving this revolution. These firms are not only innovating but also offering investors strong growth potential. The following analysis highlights some of the top fintech stocks that are powering India’s next digital leap, based on their market performance and financial indicators.
Bajaj Finance Ltd, a leader in consumer finance, stands tall with a massive market capitalization of ₹6,24,869.67 crore. The company’s share closed at ₹1,005.40, reflecting a price-to-earnings (PE) ratio of 37.56. While the stock saw a small dip of -0.77% in one day and -1.31% over the past month, it has delivered an impressive 11.19% return over six months and a strong 53.12% in the past year.
Bajaj Finance’s return on equity (ROE) stands at 18.95%, and its return on capital employed (ROCE) is 5.18%, underlining its efficient financial management. With a price-to-book (PB) ratio of 6.32 and a modest dividend yield of 0.56%, it remains an attractive choice for long-term investors. The company’s debt-to-equity ratio of 3.65 shows a moderate leverage level, while its volatility compared to the Nifty stands at 2.10. Bajaj Finance continues to benefit from India’s growing demand for consumer credit and digital lending solutions.
HDFC Asset Management Company Ltd (HDFC AMC) represents the growing asset management segment of India’s fintech space. With a market capitalization of ₹1,17,302.99 crore and a closing price of ₹5,477.50, HDFC AMC boasts a PE ratio of 47.68, signaling strong investor confidence in its growth.
The stock showed a minor one-day drop of -0.15% and a one-month decline of -1.84%. However, it has delivered 21.81% returns over six months and 28.91% over a year. The PB ratio of 14.43 reflects its premium valuation in the mutual fund industry. HDFC AMC’s ROE of 32.36% and ROCE of 39.39% indicate robust profitability and operational efficiency. With no debt on its balance sheet and a dividend yield of 1.64%, it offers both stability and growth. As mutual fund penetration increases in India, HDFC AMC remains a key beneficiary of this digital investment boom.
One 97 Communications Ltd, better known as Paytm, has been at the forefront of India’s digital payments revolution. The company has a market capitalization of ₹83,590.27 crore and closed at ₹1,307.50 per share. Despite posting a negative PE ratio of -126.90, due to ongoing losses, Paytm’s stock performance has shown remarkable improvement. It recorded a 1-day return of 0.10%, a one-month gain of 5.80%, a six-month surge of 52.77%, and a stellar one-year growth of 73.58%.
The PB ratio stands at 5.57, while ROE and ROCE remain negative at -4.66% and -4.11% respectively. Although profitability is still a challenge, Paytm’s low debt-to-equity ratio of 0.01 and its expanding ecosystem across payments, lending, and insurance highlight its growth potential. With a volatility ratio of 3.11, the stock remains dynamic, mirroring the fast-paced fintech environment it operates in.
PB Fintech Ltd, the parent company of Policybazaar and Paisabazaar, has emerged as a strong online financial services player. The company holds a market capitalization of ₹79,926.62 crore and a closing price of ₹1,734.70. With a high PE ratio of 226.41, the market is clearly pricing in its strong growth prospects.
The stock fell -2.89% in one day but gained 2.38% in a month and 1.19% over six months. Its one-year return stands at 6.24%. The PB ratio of 12.42, ROE of 5.73%, and ROCE of 6.22% reflect a company transitioning toward profitability. With negligible debt (0.05 debt-to-equity) and volatility at 3.18, PB Fintech is well-positioned to benefit from India’s increasing adoption of online insurance and financial products.
Central Depository Services (India) Ltd (CDSL) plays a crucial role in India’s capital markets. With a market cap of ₹33,989.67 crore and a share price of ₹1,626.30, it commands investor trust. Its PE ratio of 64.54 shows strong market expectations for growth.
The stock experienced a one-day drop of -1.75%, but it gained 2.72% in a month and 22.90% in six months, with a solid 13.31% one-year return. The company’s PB ratio of 18.84 highlights its premium valuation. With an ROE of 31.81% and ROCE of 37.66%, CDSL demonstrates outstanding efficiency. It maintains a healthy dividend yield of 0.77% and operates debt-free. As more Indians invest digitally, CDSL’s role in managing electronic securities continues to strengthen.
Computer Age Management Services Ltd (CAMS) is a vital player in India’s mutual fund infrastructure ecosystem. The company has a market capitalization of ₹19,534.68 crore and a closing price of ₹3,944.00. Its PE ratio of 41.55 and PB ratio of 17.46 reflect its consistent market premium.
Despite a minor one-day fall of -0.50%, CAMS gained 2.11% in a month and 8.76% over six months, though its one-year performance shows a -12.21% decline. The company’s strong ROE of 46.22% and ROCE of 49.56% indicate superior profitability and operational efficiency. With a dividend yield of 1.83% and a debt-to-equity ratio of just 0.08, CAMS remains a reliable fintech infrastructure stock.
Tanla Platforms Ltd, a leading player in cloud communication services, has a market cap of ₹8,109.94 crore and a closing price of ₹614.40. The company’s PE ratio stands at 15.99, suggesting reasonable valuation levels.
Although it faced a one-day decline of -0.86% and a one-month loss of -12.59%, it gained 10.24% over six months. However, the one-year return is negative at -15.00%. Tanla’s PB ratio is 3.58, ROE stands at 24.10%, and ROCE at 27.35%, reflecting healthy profitability. The stock offers a dividend yield of 1.99% and has very low leverage with a debt-to-equity ratio of 0.03. Despite some volatility (3.60), its innovation in messaging and communication APIs keeps it relevant in the digital transformation space.
Zaggle Prepaid Ocean Services Ltd is a newer entrant in the fintech space, focusing on prepaid payment and SaaS-based solutions. The company’s market capitalization stands at ₹5,171.02 crore with a share price of ₹384.60 and a PE ratio of 58.81.
It showed a one-day decline of -1.27% but has gained 10.26% in a month. Over six months, the return was nearly flat at 0.05%, and the one-year return was -7.02%. With a PB ratio of 4.14, ROE of 9.64%, and ROCE of 9.99%, Zaggle is steadily improving its profitability. Its debt-to-equity ratio of 0.02 indicates financial prudence, and volatility remains moderate at 3.96. As businesses and consumers adopt digital payment solutions, Zaggle’s technology-driven model provides significant growth opportunities.
India’s fintech landscape is evolving rapidly, supported by innovation, digital infrastructure, and financial inclusion. Companies like Bajaj Finance, HDFC AMC, and Paytm are at the forefront, while newer players like PB Fintech and Zaggle are shaping the future with technology-driven services. From lending and asset management to digital payments and capital market infrastructure, these fintech firms are collectively powering India’s next digital leap—making the country one of the most dynamic fintech markets in the world.