Shariah Compliant Halal Stocks in India 2025 (NIFTY 50)
| Stock Name | Halal Status | Reason |
|---|---|---|
| Reliance Industries Ltd | HALAL | Read More |
| HDFC Bank Ltd | NOT HALAL | Read More |
| Tata Consultancy Services Ltd | NOT HALAL | Read More |
| Bharti Airtel Ltd | NOT HALAL | Read More |
| ICICI Bank Ltd | NOT HALAL | Read More |
| State Bank of India Ltd | NOT HALAL | Read More |
| Infosys Ltd | NOT HALAL | Read More |
| Hindustan Unilever Ltd | HALAL | Read More |
| Kotak Mahindra Bank Ltd | NOT HALAL | Read More |
| Larsen & Toubro Ltd | NOT HALAL | Read More |
| Maruti Suzuki India Ltd | NOT HALAL | Read More |
| Sun Pharmaceutical Ltd | HALAL | Read More |
| Asian Paints Ltd | HALAL | Read More |
| Mahindra & Mahindra Ltd | NOT HALAL | Read More |
| Wipro Ltd | NOT HALAL | Read More |
| UltraTech Cement Ltd | HALAL | Read More |
| ITC Ltd | NOT HALAL | Read More |
| Axis Bank Ltd | NOT HALAL | Read More |
| Bajaj Auto Ltd | NOT HALAL | Read More |
| Bajaj Finance Ltd | NOT HALAL | Read More |
| Nestle India Ltd | HALAL | Read More |
| Titan Company Ltd | NOT HALAL | Read More |
| Power Grid Corporation Ltd | NOT HALAL | Read More |
| NTPC Ltd | NOT HALAL | Read More |
| ONGC Ltd | HALAL | Read More |
| Tata Steel Ltd | HALAL | Read More |
| HCL Technologies Ltd | MUTE | Read More |
| JSW Steel Ltd | NOT HALAL | Read More |
| Tech Mahindra Ltd | NOT HALAL | Read More |
| IndusInd Bank Ltd | NOT HALAL | Read More |
| Bajaj Finserv Ltd | NOT HALAL | Read More |
| Grasim Industries Ltd | NOT HALAL | Read More |
| SBI Life Insurance Ltd | NOT HALAL | Read More |
| Shriram Finance Ltd | NOT HALAL | Read More |
| Cipla Ltd | HALAL | Read More |
| Bharat Electronics Ltd | MUTE | Read More |
| Adani Ports Ltd | NOT HALAL | Read More |
| BPCL Ltd | HALAL | Read More |
| Dr. Reddy's Laboratories Ltd | HALAL | Read More |
| Eicher Motors Ltd | NOT HALAL | Read More |
| Hindalco Industries Ltd | HALAL | Read More |
| Hero MotoCorp Ltd | NOT HALAL | Read More |
| Britannia Industries Ltd | HALAL | Read More |
| Tata Consumer Products Ltd | HALAL | Read More |
| Apollo Hospitals Enterprise Ltd | HALAL | Read More |
| Coal India Ltd | HALAL | Read More |
| Trent Ltd | MUTE | Read More |
| HDFC Life Insurance Company Ltd | NOT HALAL | Read More |
| Adani Enterprises Ltd | NOT HALAL | Read More |
| Tata Motors Ltd | HALAL | Read More |
IPOs 2025 Halal Status
| COMPANY | OPEN DATE | HALAL STATUS | DETAILS |
|---|---|---|---|
| Infonative Solutions Ltd | 28 MARCH | HALAL | Read More |
| Spinaroo Commercial Ltd | 28 MARCH | NOT HALAL | Read More |
| Aten Papers & Foam Ltd | 28 MARCH | NOT HALAL | Read More |
| Retaggio Industries Ltd | 27 MARCH | HALAL | Read More |
| Identixweb Limited | 26 MARCH | HALAL | Read More |
| ATC Energies System Ltd | 25 MARCH | HALAL | Read More |
| Shri Ahimsa Naturals Ltd | 25 MARCH | HALAL | Read More |
| Desco Infratech Ltd | 24 MARCH | NOT HALAL | Read More |
| Rapid Fleet Management Services Ltd | 21 MARCH | NOT HALAL | Read More |
| Active Infrastructures Ltd | 21 MARCH | NOT HALAL | Read More |
| Grand Continent Hotels Ltd | 20 MARCH | NOT HALAL | Read More |
| Paradeep Parivahan Ltd | 17 MARCH | NOT HALAL | Read More |
| Divine Hira Jewellers Ltd | 17 MARCH | NOT HALAL | Read More |
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Shariah Screening Methodology
| Step | Screening Criteria | Details |
|---|---|---|
| 1 | Business Activities | - Exclude companies involved in haram activities (e.g., alcohol, gambling, pork, nightclubs). - Financial services (e.g., banks, insurance) require detailed assessment; avoid if unclear. |
| 2 | Non-Compliant Income Ratio | - Non-Shariah-compliant income (e.g., interest-based earnings) must not exceed 5% of total revenue. - Purify income by donating equivalent earnings to charity. |
| 3 | Interest-Bearing Debt Ratio | - Interest-bearing debt (e.g., loans, leases) must not exceed 33% of total assets. - Analyze financial statements to identify interest-free liabilities. |
| 4 | Illiquid Assets Ratio | - At least 20% of total assets should be illiquid (e.g., property, machinery, intellectual property). - Ensures fair valuation and compliance with Islamic principles. |
| 5 | Net Liquid Assets vs. Market Capitalization | - Net liquid assets (cash holdings) should not exceed market capitalization. - Ensures shareholders are not overpaying for cash. |
| 6 | Non-Compliant Investments to Total Assets | - Investments in non-Shariah-compliant instruments (e.g., bonds, derivatives) must be less than 33% of total assets. - Promotes ethical and socially responsible investments. |