Last Updated on August 5, 2018
Regular readers may be aware that I have been evaluating the Nifty Low Volatility Indices quite often in the recent past. Here are twenty stocks from the Nifty 100 with consistently low price volatility over the last three years.
There are two NSE low volatility indices: (1) 50 NSE stocks that have the lowest price volatility form the Nifty Low Volatility 50. (2) 30 stocks that have the lowest price volatility among the Nifty 100* form the Nifty 100 Low Volatility 30. * Nifty 100 or N100 is a list of 100 stocks with highest market capitalization on the NSE.
For this study, I have considered the current list of 100 stocks from N100 and evaluated daily returns over three periods:
A: July 3rd 2017 to July 3rd 2018
B: July 2nd 2016 to July 2nd 2017
C: July 1st 2015 to July July 2106.
The standard deviation of the daily returns is then calculated. This tells us how much each return varies from the mean. This is a measure of volatility. Higher the standard deviation, the higher the price will move up and down. Our aim is to hunt for stocks with the least volatility. Why? Because it works! That is why. See: Picking Stocks With Low Volatility: A simple, but effective strategy?
Two of the five test stocks portfolios are based on low volatility: Lazy Investing: Five Test Stock Portfolios -July 2018 Update
So after computing the volatility (standard deviation) for period A above, I sorted it in terms of increasing volatility and listed the top 30 stocks. Then I compared the list with current stocks in the Nifty 100 Low Volatility 30. Only 7 stocks were different in the two lists. This is pretty good considering I do not know the period NSE has used for calculation.
Period A: 2018-2017 | Period B: 2017-2016 | Period C: 2016-2015 |
ABB India Ltd. | Dr. Reddy’s Laboratories Ltd. | ACC Ltd. |
ACC Ltd. | ACC Ltd. | Ambuja Cements Ltd. |
Ambuja Cements Ltd. | Bajaj Auto Ltd. | Asian Paints Ltd. |
Asian Paints Ltd. | Bosch Ltd. | Bajaj Auto Ltd. |
Bajaj Auto Ltd. | Britannia Industries Ltd. | Britannia Industries Ltd. |
Bosch Ltd. | Cipla Ltd. | Cipla Ltd. |
Britannia Industries Ltd. | Coal India Ltd. | Colgate Palmolive (India) Ltd. |
Colgate Palmolive (India) Ltd. | Colgate Palmolive (India) Ltd. | Dabur India Ltd. |
Dabur India Ltd. | Dabur India Ltd. | Grasim Industries Ltd. |
HDFC Bank Ltd. | HCL Technologies Ltd. | HDFC Bank Ltd. |
Hero MotoCorp Ltd. | HDFC Bank Ltd. | Hero MotoCorp Ltd. |
Hindustan Unilever Ltd. | Hero MotoCorp Ltd. | Hindustan Unilever Ltd. |
Housing Development Finance | Hindustan Unilever Ltd. | Housing Development Finance |
I T C Ltd. | Housing Development Finance | I T C Ltd. |
IndusInd Bank Ltd. | I T C Ltd. | IndusInd Bank Ltd. |
Kotak Mahindra Bank Ltd. | IndusInd Bank Ltd. | Infosys Ltd. |
Larsen & Toubro Ltd. | Infosys Ltd. | Kotak Mahindra Bank Ltd. |
Mahindra & Mahindra Ltd. | Kotak Mahindra Bank Ltd. | Mahindra & Mahindra Ltd. |
Marico Ltd. | Larsen & Toubro Ltd. | Marico Ltd. |
Maruti Suzuki India Ltd. | Mahindra & Mahindra Ltd. | Maruti Suzuki India Ltd. |
MRF Ltd. | Marico Ltd. | NTPC Ltd. |
NTPC Ltd. | Maruti Suzuki India Ltd. | Oil India Ltd. |
Pidilite Industries Ltd. | NTPC Ltd. | Oracle Financial Services Software |
Power Grid Corporation of India Ltd. | Oracle Financial Services Software | Pidilite Industries Ltd. |
Procter & Gamble Hygiene & Health | Pidilite Industries Ltd. | Power Grid Corporation of India Ltd. |
Reliance Industries Ltd. | Power Grid Corporation of India Ltd. | Procter & Gamble Hygiene & Health |
Tata Consultancy Services Ltd. | Procter & Gamble Hygiene & Health | Reliance Industries Ltd. |
UltraTech Cement Ltd. | Reliance Industries Ltd. | Tata Consultancy Services Ltd. |
Wipro Ltd. | Siemens Ltd. | UltraTech Cement Ltd. |
Zee Entertainment Enterprises Ltd. | Tata Consultancy Services Ltd. | Wipro Ltd. |
So here are the Twenty Stocks With Consistently Low Price Volatility
ACC Ltd. |
Britannia Industries Ltd. |
Colgate Palmolive (India) Ltd. |
Dabur India Ltd. |
HDFC Bank Ltd. |
Hero MotoCorp Ltd. |
Hindustan Unilever Ltd. |
Housing Development Finance |
I T C Ltd. |
IndusInd Bank Ltd. |
Kotak Mahindra Bank Ltd. |
Mahindra & Mahindra Ltd. |
Marico Ltd. |
Maruti Suzuki India Ltd. |
NTPC Ltd. |
Pidilite Industries Ltd. |
Power Grid Corporation of India Ltd. |
Procter & Gamble Hygiene & Health |
Reliance Industries Ltd. |
Tata Consultancy Services Ltd. |
Even I know that this is a decent shortlist to start digging further. Of course these many are expensive stocks. So what? Good quality comes at a price!
Please note that low volatility does not mean that the price has gone up in the periods considered. The price could not have moved much or gone south too. Low volatility could mean one or more of the following: the trading volumes are steady and do not fluctuate much. There has not been any market-wide dip in the periods calculated. The companies have neither had good news or bad news. Or they have had only good news or only bad news.
My point is, consistently low volatility does not make a stock an automatic “good buy”. It only means it is worth looking further. So please view this list as an information and do your research before committing money.
Download the full list for all three periods
To analyze the stocks further use these sheets:
Automated Earnings Power Stock Analysis With Screener.in data
Automated Stock Analysis with the Earnings Power Box (MorningStar financials)
To get the stock price history, use the stock code mentioned in the “full list” sheet and plug into the analyzer sheet. The stock prices used in this article were obtained from Moneycontrol. They are adjusted for splits but not for dividends.
We now publish both equity fund and debt fund (+ hybrid fund) screeners each month!
Use our Robo-advisory Excel Template for a start-to-finish financial plan! Now with a new demo video! ⇐ More than 415 investors and advisors use this!
Unlock the secrets of successful financial advisors and entrepreneurs with our new course!
My new book for kids: “Chinchu gets a superpower!” is now available!


Must-read book even for adults! This is something that every parent should teach their kids right from their young age. The importance of money management and decision making based on their wants and needs. Very nicely written in simple terms. - Arun.Buy the book: Chinchu gets a superpower for your child!
How to profit from content writing: Our new ebook for those interested in getting side income via content writing. It is available at a 50% discount for Rs. 500 only!
Join our courses in exclusive Facebook Groups!
- 550+ members are now part of our new course: How to get people to pay for your skills! (watch 1st lecture for free). Learn how to get people to pay for your skills! Whether you are a professional or small business owner who wants more clients via online visibility or a salaried person wanting a side income or passive income, we will show how to achieve by showcasing your skills and building a community that trusts you and pays you!
- Goal-based portfolio management! Join 2220+ members and get clarity on how to plan for your goals and achieve the necessary corpus no matter what the market condition is!! Watch the first lecture for free! One-time payment of Rs. 3000 only. No recurring fees! Life-long access to videos (10+ hours content) in an exclusive Facebook Group! Reduce fear, uncertainty and doubt while investing! Learn how to plan for your goals before and after retirement with confidence.
Want to check if the market is overvalued or undervalued? Use our market valuation tool (will work with any index!), or you buy the new Tactical Buy/Sell timing tool!
We publish mutual fund screeners and momentum, low volatility stock screeners .every month.
About the Author

About freefincal & its content policy Freefincal is a News Media Organization dedicated to providing original analysis, reports, reviews and insights on developments in mutual funds, stocks, investing, retirement and personal finance. We do so without conflict of interest and bias. Follow us on Google News. Freefincal serves more than one million readers a year (2.5 million page views) with articles based only on factual information and detailed analysis by its authors. All statements made will be verified from credible and knowledgeable sources before publication. Freefincal does not publish any paid articles, promotions, PR, satire or opinions without data. All opinions presented will only be inferences backed by verifiable, reproducible evidence/data. Contact information: letters {at} freefincal {dot} com (sponsored posts or paid collaborations will not be entertained)
Connect with us on social media
- Twitter @freefincal
- Subscribe to our Youtube Videos
- Posts feed via Feedburner.
Our publications
You Can Be Rich Too with Goal-Based Investing

Gamechanger: Forget Startups, Join Corporate & Still Live the Rich Life You Want

Your Ultimate Guide to Travel

Free android apps
- All calculators from our book, “You can be Rich Too” are now available on Google Play!
- Install the Financial Freedom App! (Google Play Store)
- Install Freefincal Retirement Planner App! (Google Play Store)
- Find out if you have enough to say "goodbye" to your employer (Google Play Store)