Under Rs 190 Stocks to Buy in November 2026: 5 Names on the Watchlist
- November 6, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
CESC Rs 130.25. GSFC Rs 141.54. Inox Green Rs 120.48. Lemon Tree Rs 117.53. SAIL Rs 172.30. NSE closing prices, 5 Nov 2026.
Quick Answer
Five under Rs 190 stocks to buy on the November 2026 watchlist are CESC, Gujarat State Fertilizers and Chemicals, Inox Green Energy Services, Lemon Tree Hotels and Steel Authority of India. All five grew revenue in their latest full year, and all five also grew net profit. Gujarat State Fertilizers and Chemicals has the lowest P/E at 7.84, while Lemon Tree Hotels leads on return on equity at 16.32%. Check each valuation against your own risk appetite before acting.
The under Rs 190 stocks to buy in November 2026 start with five listed names: CESC, Gujarat State Fertilizers and Chemicals, Inox Green Energy Services, Lemon Tree Hotels and Steel Authority of India. Stocks under Rs 190 include a hotel chain, a wind energy services company, a Kolkata power utility, a fertiliser maker and a steel producer, priced from about Rs 118 to Rs 172. Steel Authority of India is part of the Nifty Metal index.
This article ranks none of them as a sure thing. It lays out the numbers each company has reported, how the shares are priced today and what an investor should check before adding any of these under Rs 190 stocks to buy to a portfolio. All prices are NSE closing prices of 5 November 2026, and financials come from company filings.
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Which Are the Best Under Rs 190 Stocks to Buy in November 2026?
The best under Rs 190 stocks to buy in November 2026 for a watchlist are CESC, Gujarat State Fertilizers and Chemicals, Inox Green Energy Services, Lemon Tree Hotels and Steel Authority of India. They were picked because each has complete reported financials, profit in the latest quarter and an NSE listing. The table puts their market data side by side.
| Company | CMP (Rs) | Market Cap | P/E | ROE | Dividend Yield |
|---|---|---|---|---|---|
| CESC | 130.25 | Rs 16,981 crore | 10.41 | 12.31% | 4.71% |
| Gujarat State Fertilizers and Chemicals | 141.54 | Rs 5,435 crore | 7.84 | 5.48% | 3.67% |
| Inox Green Energy Services | 120.48 | Rs 4,486 crore | 36.86 | 6.00% | 0.00% |
| Lemon Tree Hotels | 117.53 | Rs 8,818 crore | 29.60 | 16.32% | 0.00% |
| Steel Authority of India | 172.30 | Rs 66,584 crore | 11.88 | 8.96% | 1.46% |
On valuation, CESC, Gujarat State Fertilizers and Chemicals, Lemon Tree Hotels and Steel Authority of India trade below the industry P/E; Inox Green Energy Services sits close to it. Valuation is the first filter for any under Rs 190 stocks to buy list, and it is covered again in the risk section.
Why These Under Rs 190 Stocks to Buy Are in Focus
A low share price does not mean a stock is inexpensive, because value depends on earnings and the number of shares. The list covers a hotel chain, a wind turbine operations and maintenance company, a power utility serving Kolkata, a maker of fertilisers and industrial chemicals and a government-owned steel producer, all of which closed below Rs 190 on the NSE on 5 November. Investors searching for the best stocks under Rs 190 in India should check earnings, valuation and debt.
CESC: The Kolkata Power Utility Among Under Rs 190 Stocks to Buy
CESC is a power utility with generation and distribution operations in Kolkata, part of the RP-Sanjiv Goenka Group. At Rs 130.25, the stock has a market capitalisation of Rs 16,981 crore and trades at 10.41 times earnings, while the industry P/E is 19.93.
Reported numbers show FY26 revenue of Rs 18,927 crore, up 8.9% year on year, with net profit at Rs 1,618 crore, up 13.2%. The June 2026 quarter added revenue of Rs 5,559 crore (up 5.2%) and net profit of Rs 419 crore (up 3.7%).
Return on equity is 12.31%, debt-to-equity is 1.73, and the dividend yield is 4.71%. Promoters hold 52.11%, foreign institutions 11.49% and domestic institutions 24.94% as of September 2026. A point to keep in view: debt is higher than most names on this list.
Gujarat State Fertilizers and Chemicals: The Gujarat Fertiliser and Chemicals Name Among Under Rs 190 Stocks to Buy
Gujarat State Fertilizers and Chemicals is a Gujarat-based maker of fertilisers and industrial chemicals. Its market capitalisation is Rs 5,435 crore, the share price is Rs 141.54 and the P/E of 7.84 compares with an industry P/E of 20.30.
Over FY26, net profit rose 13.8% to Rs 673 crore on revenue of Rs 11,222 crore, which was up 13.9%. The latest quarter, the June 2026 quarter, brought revenue of Rs 3,617 crore, up 62.5% year on year, and net profit of Rs 159 crore, up 14.4%.
Return on equity is 5.48%, debt-to-equity is 0.00, and the dividend yield is 3.67%. Promoters hold 37.84%, foreign institutions 12.52% and domestic institutions 5.83% as of September 2026. A point to keep in view: return on equity is a modest 5.48%.
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Inox Green Energy Services: The Wind Services Name Among Under Rs 190 Stocks to Buy
Inox Green Energy Services is a wind turbine operations and maintenance services company. The stock trades at Rs 120.48 with a market capitalisation of Rs 4,486 crore and a P/E of 36.86, against an industry P/E of 34.61.
FY26 revenue rose 69.1% to Rs 426 crore and net profit rose 189.9% to Rs 104 crore. In the June 2026 quarter, revenue grew 3.5% year on year to Rs 101 crore, while net profit grew 82.2% to Rs 40.8 crore.
Return on equity is 6.00%, debt-to-equity is 0.05, and the dividend yield is negligible. Promoters hold 53.70%, foreign institutions 8.18% and domestic institutions 1.93% as of September 2026. A point to keep in view: return on equity is a modest 6.00%.
Lemon Tree Hotels: The Mid-Market Hotel Chain Among Under Rs 190 Stocks to Buy
Lemon Tree Hotels is a mid-market hotel chain with a large pipeline of properties. At Rs 117.53, the stock has a market capitalisation of Rs 8,818 crore and trades at 29.60 times earnings, while the industry P/E is 37.59.
Reported numbers show FY26 revenue of Rs 1,465 crore, up 12.8% year on year, with net profit at Rs 288 crore, up 18.6%. The June 2026 quarter added revenue of Rs 347 crore (up 9.2%) and net profit of Rs 57.3 crore (up 19.2%).
Return on equity is 16.32%, debt-to-equity is 1.44, and the dividend yield is negligible. Promoters hold 22.32%, foreign institutions 18.26% and domestic institutions 14.80% as of September 2026. A point to keep in view: debt is higher than most names on this list.
Steel Authority of India: The Public Sector Steelmaker Among Under Rs 190 Stocks to Buy
Steel Authority of India is a government-owned integrated steel producer. Its market capitalisation is Rs 66,584 crore, the share price is Rs 172.30 and the P/E of 11.88 compares with an industry P/E of 19.82.
Over FY26, net profit rose 42.2% to Rs 3,373 crore on revenue of Rs 1,11,705 crore, which was up 8.1%. The latest quarter, the September 2026 quarter, brought revenue of Rs 32,230 crore, up 19.8% year on year, and net profit of Rs 1,750 crore, up 318.1%.
Return on equity is 8.96%, debt-to-equity is 0.50, and the dividend yield is 1.46%. Promoters hold 65.00%, foreign institutions 7.31% and domestic institutions 16.49% as of September 2026. Foreign institutional holding has risen from 3.76% to 7.31% over the last year.
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Growth Snapshot: Latest Full Year and Latest Quarter
The table compares year-on-year growth in revenue and net profit for all five under Rs 190 stocks, using filed results.
| Company | Full-Year Revenue Growth | Full-Year Profit Growth | Latest Quarter | Quarter Revenue Growth | Quarter Profit Growth |
|---|---|---|---|---|---|
| CESC | 8.9% | 13.2% | Jun 2026 | 5.2% | 3.7% |
| Gujarat State Fertilizers and Chemicals | 13.9% | 13.8% | Jun 2026 | 62.5% | 14.4% |
| Inox Green Energy Services | 69.1% | 189.9% | Jun 2026 | 3.5% | 82.2% |
| Lemon Tree Hotels | 12.8% | 18.6% | Jun 2026 | 9.2% | 19.2% |
| Steel Authority of India | 8.1% | 42.2% | Sep 2026 | 19.8% | 318.1% |
Factors That Move Under Rs 190 Stocks to Buy
Four factors tend to drive under Rs 190 stocks, and each one is worth checking before a purchase.
- Earnings growth: Profit should be rising.
- Sector mix: Hotels, wind energy, power, fertilisers and steel differ.
- Dividends: CESC yields about 4.7%.
- Valuation: P/E runs from about 8 to 37.
Risks to Keep in Mind Before Buying Under Rs 190 Stocks
The first risk is that a low share price says little about value, so earnings and valuation matter more. The second is that Inox Green Energy Services trades at a P/E near 37 and is valued under Rs 4,500 crore, while steel earnings follow global prices. Check results every quarter.
On the numbers, Inox Green Energy Services trades at the highest P/E on this list at 36.86, so its earnings need to keep growing to support the price. Under Rs 190 stocks to buy can still fall when markets turn weak, and a staggered entry has historically suited investors better than a lump-sum purchase.
How to Choose Under Rs 190 Stocks to Buy
- Look at earnings: Price alone is not a signal.
- Check P/E: Gujarat State Fertilizers trades lowest.
- Read dividends: CESC yields the most.
- Diversify: Spread across the five sectors.
How to Invest in Under Rs 190 Stocks
- Shortlist two or three companies from this list that match your risk appetite.
- Open the Univest Screener and compare P/E, ROE and debt for each stock.
- Check the latest quarterly results and shareholding pattern on NSE or BSE.
- Decide an amount you can hold for three to five years and split it into two or three purchases.
- Review the holding after every quarterly result instead of reacting to daily price moves.
Conclusion
Gujarat State Fertilizers and Chemicals offers the lowest P/E on this list at 7.84, Lemon Tree Hotels has the highest return on equity at 16.32%, and Inox Green Energy Services posted the fastest net profit growth in its latest full year at 189.9%. Among the best under Rs 190 stocks in India, these five give investors a spread of size, valuation and growth, so the right pick depends on risk appetite and holding period. Spread the entry, keep position sizes sensible and consult a SEBI-registered advisor before investing in any of these under Rs 190 stocks to buy.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
Frequently Asked Questions on Under Rs 190 Stocks to Buy
Which are the best under Rs 190 stocks to buy in November 2026?
Ans. The five under Rs 190 stocks on the November 2026 watchlist are CESC, Gujarat State Fertilizers and Chemicals, Inox Green Energy Services, Lemon Tree Hotels and Steel Authority of India. Gujarat State Fertilizers and Chemicals has the lowest P/E at 7.84, Lemon Tree Hotels has the highest ROE at 16.32%, and Inox Green Energy Services grew net profit 189.9% in its latest full year. This is educational content, not investment advice, so please consult a SEBI-registered advisor.
Is Steel Authority of India a good stock to buy from this Under Rs 190 list?
Ans. Steel Authority of India is the largest company on this list with a market capitalisation of Rs 66,584 crore and a P/E of 11.88 against an industry P/E of 19.82. Its FY26 revenue rose 8.1% and net profit rose 42.2%, with return on equity at 8.96%. Whether it suits you depends on your risk appetite and holding period, so please consult a SEBI-registered advisor before investing.
Are these under Rs 190 stocks expensive right now?
Ans. Valuations vary across the group. CESC trades at a P/E of 10.41, Gujarat State Fertilizers and Chemicals trades at a P/E of 7.84, Inox Green Energy Services trades at a P/E of 36.86, Lemon Tree Hotels trades at a P/E of 29.60, Steel Authority of India trades at a P/E of 11.88, against industry multiples ranging from 19.82 to 37.59. Higher multiples reflect faster growth but also leave less room for earnings misses, so entry price deserves attention.
Which of these under Rs 190 stocks pay a dividend?
Ans. Dividend yields on this list are CESC 4.71%, Gujarat State Fertilizers and Chemicals 3.67%, Steel Authority of India 1.46%. Yields differ widely across the group, so check payout history and earnings cover before relying on any of them for income, since payouts can change with company profits.
Which stock on this list has the highest return on equity?
Ans. Lemon Tree Hotels has the highest ROE on this list at 16.32%, followed by CESC at 12.31% and Steel Authority of India at 8.96%. A higher ROE shows a company earns more profit on shareholder capital, but it should be read alongside valuation and debt.
What are the risks of investing in under Rs 190 stocks?
Ans. The main risks are low prices that say little about value, steel price swings and a high valuation at one small company. On this list, Inox Green Energy Services trades at the highest P/E of 36.86, which leaves less room for earnings disappointments. Staggered buying and a long holding period can help manage these risks.
How can I invest in under Rs 190 stocks in India?
Ans. You can buy these stocks directly on NSE or BSE through a demat account, and compare them first on the Univest Screener using P/E, ROE and debt. Many investors split the amount across two or three purchases and review the holding after each quarterly result. Sector-themed mutual funds and ETFs are another route for investors who prefer diversification.