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STOCK SCREEN

Before investing, please always verify the current Shariah compliance of any stock on Screener.in.
Below are companies that were permissible as of our latest review – re‑check independently.

62 companies verified against Nifty Shariah 25, Musaffa, Islamicly, and Zamzam Capital.

⚠️ CRITICAL — A Permissible Company Does NOT Make Every Trade Halal

Even if a stock passes AAOIFI screening, the way you trade it matters. The following methods are widely considered impermissible by Islamic scholars:

  • Intra‑day trading (day trading) — often involves speculation and gharar.
  • Futures & Options (F&O) — considered derivatives with excessive uncertainty and zero ownership.
  • Margin trading / short selling— selling what you don't own or borrowing with interest.
  • Speculative crypto / forex — high gharar, often resembles gambling.

✅ Permissible approach: Take delivery of shares (T+2 settlement), hold them as an owner, and earn from legitimate profits or dividends. Always consult a qualified scholar for personalised rulings.

⚠ Educational data as of Q2 2026. Always verify latest financial ratios on Screener.in and consult a qualified scholar. Not financial advice.

TCS — Tata Consultancy Services

IT Services
✓ PERMISSIBLE
Market Cap: ₹12.00 Lakh Cr
Source: Nifty Shariah 25 · Islamicly
Why: Core IT services – permissible. Near‑zero debt. Interest income <1%. Illiquid assets >80%.

INFY — Infosys

IT Services
✓ PERMISSIBLE
Market Cap: ₹6.50 Lakh Cr
Source: Islamicly · Nifty Shariah 25
Why: IT services – permissible. Conservative debt. Minimal interest income. High illiquid ratio.

HCLTECH — HCL Technologies

IT Services
✓ PERMISSIBLE
Market Cap: ₹3.94 Lakh Cr
Source: Nifty Shariah 25 · Islamicly
Why: IT services – low debt, interest well under 5%. Illiquid ratio 75%.

WIPRO — Wipro

IT Services
✓ PERMISSIBLE
Market Cap: ₹2.60 Lakh Cr
Source: Islamicly · Nifty Shariah 25
Why: IT services – debt 3.2%, interest 0.5%. Illiquid 72%.

TECHM — Tech Mahindra

IT Services
✓ PERMISSIBLE
Market Cap: ₹1.41 Lakh Cr
Source: Nifty Shariah 25
Why: IT services – moderate debt, interest within limit. Illiquid >33%.

PERSISTENT — Persistent Systems

IT Services
✓ PERMISSIBLE
Market Cap: ₹84.83K Cr
Source: Nifty Shariah 25
Why: IT services – low debt, negligible interest, high illiquid.

LTIM — LTI Mindtree

IT Services
✓ PERMISSIBLE
Market Cap: ₹1.34 Lakh Cr
Source: Nifty Shariah 25
Why: IT services – low debt, interest <1%, illiquid >70%.

COFORGE — Coforge

IT Services
✓ PERMISSIBLE
Market Cap: ₹42.00K Cr
Source: Nifty Shariah 25
Why: IT services – low debt, negligible interest, illiquid >70%.

TATAELXSI — Tata Elxsi

IT Services
✓ PERMISSIBLE
Market Cap: ₹45.00K Cr
Source: Islamicly
Why: IT/engineering services – zero debt, negligible interest, high illiquid.

MPHASIS — Mphasis

IT Services
✓ PERMISSIBLE
Market Cap: ₹55.00K Cr
Source: Nifty Shariah 25
Why: IT services – low debt, interest well under 5%, passes illiquid test.

SUNPHARMA — Sun Pharmaceutical

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹4.00 Lakh Cr
Source: Islamicly · Musaffa · Zamzam
Why: Pharma – permissible, moderate debt, interest <1%, illiquid >60%.

DRREDDY — Dr. Reddy's Laboratories

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹1.03 Lakh Cr
Source: Nifty Shariah 25 · Musaffa
Why: Pharma – debt 8.5%, interest 0.4%, passes all screens.

CIPLA — Cipla

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹99.32K Cr
Source: Nifty Shariah 25
Why: Pharma – debt 7.1%, interest 0.5%, illiquid >33%.

DIVISLAB — Divi's Laboratories

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹95.00K Cr
Source: Musaffa
Why: Pharma – almost zero debt, negligible interest, illiquid 80%.

LUPIN — Lupin

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹1.07 Lakh Cr
Source: Nifty Shariah 25
Why: Pharma – debt 10.1%, interest <1%, passes all tests.

APOLLOHOSP — Apollo Hospitals

Healthcare Services
✓ PERMISSIBLE
Market Cap: ₹1.08 Lakh Cr
Source: Nifty Shariah 25
Why: Healthcare services – permissible, acceptable debt, low interest.

BIOCON — Biocon

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹38.00K Cr
Source: Musaffa
Why: Pharma/biotech – moderate debt, interest within limits, passes.

ALKEM — Alkem Laboratories

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹55.00K Cr
Source: Musaffa
Why: Pharma – acceptable debt, low interest, passes screens.

AUROPHARMA — Aurobindo Pharma

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹48.00K Cr
Source: Nifty Shariah 25
Why: Pharma – debt 18.4%, interest 1.1%, illiquid >50%, passes.

GLAND — Gland Pharma

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹25.00K Cr
Source: Musaffa
Why: Pharma – low debt, negligible interest, strong illiquid.

LAURUSLABS — Laurus Labs

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹20.00K Cr
Source: Musaffa
Why: Pharma – moderate debt, interest under 1%, passes.

IPCALAB — Ipca Laboratories

Pharmaceuticals
✓ PERMISSIBLE
Market Cap: ₹30.00K Cr
Source: Musaffa
Why: Pharma – permissible sector, debt under control, passes.

HINDUNILVR — Hindustan Unilever

FMCG
✓ PERMISSIBLE
Market Cap: ₹5.00 Lakh Cr
Source: Islamicly · Nifty Shariah 25 · Musaffa · Zamzam
Why: Consumer staples – zero debt, negligible interest, illiquid 68%.

NESTLEIND — Nestlé India

FMCG – Food
✓ PERMISSIBLE
Market Cap: ₹2.41 Lakh Cr
Source: Nifty Shariah 25 · Musaffa · Zamzam
Why: Food products – permissible, low debt, interest under 1%.

TATACONSUM — Tata Consumer Products

FMCG
✓ PERMISSIBLE
Market Cap: ₹1.08 Lakh Cr
Source: Nifty Shariah 25
Why: Consumer goods – debt 3.2%, interest 0.3%, passes.

GODREJCP — Godrej Consumer Products

FMCG
✓ PERMISSIBLE
Market Cap: ₹1.10 Lakh Cr
Source: Nifty Shariah 25
Why: Consumer goods – debt 5.4%, interest 0.5%, passes.

DABUR — Dabur India

FMCG
✓ PERMISSIBLE
Market Cap: ₹95.00K Cr
Source: Musaffa
Why: Ayurvedic/FMCG – low debt, negligible interest, passes.

MARICO — Marico

FMCG
✓ PERMISSIBLE
Market Cap: ₹65.00K Cr
Source: Musaffa
Why: Consumer goods – very low debt, interest 0.2%, illiquid >70%.

BRITANNIA — Britannia Industries

FMCG – Food
✓ PERMISSIBLE
Market Cap: ₹1.10 Lakh Cr
Source: Musaffa
Why: Bakery/food – permissible, acceptable debt, low interest.

EMAMILTD — Emami

FMCG
✓ PERMISSIBLE
Market Cap: ₹28.00K Cr
Source: Musaffa
Why: Consumer goods – debt within limits, low interest, passes.

VBL — Varun Beverages

FMCG – Beverages
✓ PERMISSIBLE
Market Cap: ₹1.20 Lakh Cr
Source: Musaffa
Why: Beverages – permissible, moderate debt, interest under 1%.

JYOTHYLABS — Jyothy Labs

FMCG
✓ PERMISSIBLE
Market Cap: ₹18.00K Cr
Source: Musaffa
Why: Consumer goods – low debt, negligible interest, passes.

GILLETTE — Gillette India

FMCG
✓ PERMISSIBLE
Market Cap: ₹25.00K Cr
Source: Musaffa
Why: Consumer products – low debt, interest <1%, passes.

ASIANPAINT — Asian Paints

Paints & Coatings
✓ PERMISSIBLE
Market Cap: ₹2.26 Lakh Cr
Source: Nifty Shariah 25 · Zamzam · Musaffa
Why: Paint manufacturing – permissible, very low debt, interest 0.2%, illiquid 79%.

PIDILITIND — Pidilite Industries

Chemicals
✓ PERMISSIBLE
Market Cap: ₹1.38 Lakh Cr
Source: Nifty Shariah 25
Why: Adhesives/chemicals – permissible, low debt, interest 0.3%, illiquid >75%.

SRF — SRF

Chemicals
✓ PERMISSIBLE
Market Cap: ₹68.00K Cr
Source: Musaffa
Why: Chemicals/textiles – permissible, moderate debt, interest acceptable.

ULTRACEMCO — UltraTech Cement

Cement
✓ PERMISSIBLE
Market Cap: ₹3.39 Lakh Cr
Source: Nifty Shariah 25 · Islamicly · Musaffa · Zamzam
Why: Cement – permissible, debt 18.3%, interest 1.9%, illiquid 46%, passes.

SHREECEM — Shree Cement

Cement
✓ PERMISSIBLE
Market Cap: ₹90.00K Cr
Source: Musaffa
Why: Cement – permissible, moderate debt, low interest, passes.

AMBUJACEM — Ambuja Cements

Cement
✓ PERMISSIBLE
Market Cap: ₹1.50 Lakh Cr
Source: Islamicly · Nifty Shariah 25
Why: Cement – permissible, debt under 33%, interest <5%, passes.

SIEMENS — Siemens India

Engineering
✓ PERMISSIBLE
Market Cap: ₹1.30 Lakh Cr
Source: Musaffa
Why: Engineering – permissible, zero debt, negligible interest, illiquid 77%.

ABB — ABB India

Engineering
✓ PERMISSIBLE
Market Cap: ₹80.00K Cr
Source: Musaffa
Why: Engineering – permissible, very low debt, interest 0.4%, illiquid 79%.

HAVELLS — Havells India

Electrical Equipment
✓ PERMISSIBLE
Market Cap: ₹78.00K Cr
Source: Nifty Shariah 25 · Musaffa
Why: Electrical goods – permissible, low debt, interest 0.6%, passes.

CUMMINSIND — Cummins India

Industrial Products
✓ PERMISSIBLE
Market Cap: ₹1.42 Lakh Cr
Source: Nifty Shariah 25
Why: Industrial manufacturing – permissible, acceptable debt, low interest.

VOLTAS — Voltas

Engineering
✓ PERMISSIBLE
Market Cap: ₹42.00K Cr
Source: Musaffa
Why: Engineering – permissible, debt 6.1%, interest low, passes.

THERMAX — Thermax

Engineering
✓ PERMISSIBLE
Market Cap: ₹38.00K Cr
Source: Musaffa
Why: Engineering – permissible, low debt, interest <1%, passes.

POLYCAB — Polycab India

Electrical Equipment
✓ PERMISSIBLE
Market Cap: ₹50.00K Cr
Source: Musaffa
Why: Electrical – permissible, low debt, interest <1%, passes.

ONGC — Oil & Natural Gas Corp

Oil & Gas
✓ PERMISSIBLE
Market Cap: ₹3.60 Lakh Cr
Source: Nifty Shariah 25 · Islamicly · Zamzam
Why: Oil & gas extraction – permissible, debt 12.4%, interest 2.8%, illiquid 61%.

COALINDIA — Coal India

Mining
✓ PERMISSIBLE
Market Cap: ₹2.68 Lakh Cr
Source: Nifty Shariah 25 · Islamicly · Zamzam
Why: Coal mining – permissible, almost zero debt, interest 1.5%, illiquid 63%.

GAIL — GAIL India

Energy
✓ PERMISSIBLE
Market Cap: ₹1.01 Lakh Cr
Source: Nifty Shariah 25
Why: Gas transmission – permissible, moderate debt, interest under 3%, passes.

PETRONET — Petronet LNG

Energy
✓ PERMISSIBLE
Market Cap: ₹42.00K Cr
Source: Islamicly · Zamzam
Why: Gas infrastructure – permissible, low debt, interest <1%, passes.

IGL — Indraprastha Gas

Energy
✓ PERMISSIBLE
Market Cap: ₹1.00 Lakh Cr
Source: Islamicly · Musaffa
Why: City gas distribution – permissible, low debt, interest negligible.

MARUTI — Maruti Suzuki India

Automobile
✓ PERMISSIBLE
Market Cap: ₹2.60 Lakh Cr
Source: Islamicly · Musaffa · Zamzam
Why: Automobile manufacturing – permissible, low debt, interest 0.7%, illiquid >60%.

EICHERMOT — Eicher Motors

Automobile
✓ PERMISSIBLE
Market Cap: ₹1.00 Lakh Cr
Source: Musaffa
Why: Automobile – permissible, very low debt, interest 0.4%, passes all tests.

HEROMOTOCO — Hero MotoCorp

Automobile
✓ PERMISSIBLE
Market Cap: ₹1.05 Lakh Cr
Source: Nifty Shariah 25 · Islamicly
Why: Two‑wheeler manufacturing – permissible, low debt, passes.

BAJAJ‑AUTO — Bajaj Auto

Automobile
✓ PERMISSIBLE
Market Cap: ₹1.30 Lakh Cr
Source: Musaffa
Why: Automobile – permissible, low debt, interest negligible, illiquid >55%.

TVSMOTOR — TVS Motor Company

Automobile
✓ PERMISSIBLE
Market Cap: ₹55.00K Cr
Source: Musaffa
Why: Automobile – permissible, debt 6.5%, interest low, passes.

WHIRLPOOL — Whirlpool of India

Consumer Durables
✓ PERMISSIBLE
Market Cap: ₹22.00K Cr
Source: Musaffa
Why: Consumer durables – permissible, low debt, interest under 1%.

TTKPRESTIG — TTK Prestige

Consumer Durables
✓ PERMISSIBLE
Market Cap: ₹10.00K Cr
Source: Musaffa
Why: Kitchen appliances – permissible, low debt, negligible interest.

CROMPTON — Crompton Greaves Consumer

Consumer Durables
✓ PERMISSIBLE
Market Cap: ₹25.00K Cr
Source: Musaffa
Why: Fans/lighting – permissible, low debt, interest under 1%.

TITAN — Titan Company

Jewellery & Watches
✓ PERMISSIBLE
Market Cap: ₹2.90 Lakh Cr
Source: Musaffa
Why: Jewellery & watches – permissible, low debt, interest under 5%, illiquid >60%.

PAGEIND — Page Industries

Textiles / Apparel
✓ PERMISSIBLE
Market Cap: ₹40.00K Cr
Source: Musaffa
Why: Garment manufacturing – permissible, low debt, interest <1%.

KPRMILL — KPR Mill

Textiles
✓ PERMISSIBLE
Market Cap: ₹25.00K Cr
Source: Musaffa
Why: Textile manufacturing – permissible, moderate debt, low interest.