India’s stock market has been one of the hottest in the world, but not every opportunity is hiding in high-flying growth names. Some of the most attractive plays today are in value stocks, which are companies trading at low earnings multiples yet backed by solid fundamentals and strong analyst forecasts.
These businesses span banking, energy, housing finance, and shipping, giving investors a diverse set of ways to participate in India’s growth story. What they share in common is modest valuations and double-digit upside potential, according to analyst estimates.
Here are 7 undervalued Indian stocks with low P/E ratios and meaningful analyst upside that deserve a closer look.
| Company Name (Ticker) | P/E Ratio | Analyst Upside |
| Jammu & Kashmir Bank (J&KBANK) | 6 | 47% |
| Great Eastern Shipping (GESHIP) | 8 | 42% |
| Oil & Natural Gas Corporation (ONGC) | 9 | 17% |
| LIC Housing Finance (LICHSGFIN) | 6 | 17% |
| Union Bank of India (UNIONBANK) | 6 | 15% |
| HDFC Bank (HDFCBANK) | 21 | 14% |
| Bank of Baroda (BANKBARODA) | 8 | 12% |
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Jammu & Kashmir Bank (J&KBANK)
Jammu & Kashmir Bank is a regional bank in India that provides a range of banking and financial services across retail, corporate, and small business segments. The bank has a strong presence in the Union Territory of Jammu and Kashmir, where it holds a significant market share.
Despite healthy loan growth and improving asset quality, the stock trades at a very low P/E multiple compared to larger private banks. Analysts see meaningful upside as earnings momentum continues and the bank benefits from a broader recovery in credit demand. For investors, it represents a classic case of a profitable, growing bank that the market hasn’t fully re-rated yet.
The bank pays a modest dividend, with a recent dividend of ₹2.15 per share. The bank’s strategic regional dominance and improving financial performance make it an attractive opportunity for investors looking at the Indian banking sector.
Great Eastern Shipping (GESHIP)
Great Eastern Shipping Company is India’s largest private sector shipping firm, operating a diversified fleet of crude oil carriers, product tankers, and dry bulk vessels.
As India’s largest private shipping company, Great Eastern Shipping plays a central role in transporting crude oil, petroleum products, and dry bulk cargo. The company benefits directly from global trade activity and energy flows, and has managed to maintain solid profitability even through volatile freight rate cycles. Despite its strong operating track record and improving balance sheet, the stock trades at a single-digit P/E.
Analysts believe there’s room for the market to assign a higher multiple as shipping demand stays resilient, making GESHIP an undervalued play on both India’s trade growth and the global shipping cycle.
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Oil & Natural Gas Corporation (ONGC)
Oil & Natural Gas Corporation (ONGC) is India’s largest state-owned oil and gas exploration and production company, with extensive upstream operations.
The company’s upstream operations generate significant cash flow, which has been reinforced by higher global energy prices in recent years. Yet despite its scale, strategic importance, and strong earnings base, ONGC trades at a modest valuation relative to global peers.
Analysts point to steady cash generation and dividend support as reasons why the market may be underpricing the stock, making it an attractive low-P/E option for investors looking for energy exposure in India.
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Disclaimer:
Please note that the articles on TIKR are not intended to serve as investment or financial advice from TIKR or our content team, nor are they recommendations to buy or sell any stocks. We create our content based on TIKR Terminal’s investment data and analysts’ estimates. Our analysis might not include recent company news or important updates. TIKR has no position in any stocks mentioned. Thank you for reading, and happy investing!
