Finding the best key performance measure from various metrics difficult for investment decisions and there are tedious calculations. The aim of the study is to identify the best key performance indicators from the selected tools. Therefore, the study selected the Indian manufacturing sector, which is a fast-growing country in the world. Manufacturing sector is one variable contributes to GDP from last thirty years. In order to this, the study selected ten years data 2013–2022 from Indian Manufacturing sector to find out the best key performance measure from selected variables by applying stepwise regression coefficient with the help of SPSS package. In the study stock market returns considered as independent variable and NPM, ROE, EPS, D/E, ROA, EVA, Price/BV and MVA are dependent variables to determine key performance measures that impact more on stock market performances. The study found that there is positive relationship among selected variables as per Pearson Correlation, Regression.