Under Rs 2900 Stocks to Buy in November 2026: 5 Names on the Watchlist
- November 6, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Bajaj Finserv Rs 1,835. Dr Lal Rs 1,967. Happy Forgings Rs 1,883. HDFC AMC Rs 2,640. Phoenix Rs 2,126. NSE closing prices, 5 Nov 2026.
Quick Answer
Five under Rs 2900 stocks to buy on the November 2026 watchlist are Bajaj Finserv, Dr Lal PathLabs, Happy Forgings, HDFC Asset Management Company and Phoenix Mills. All five grew revenue in their latest full year, and all five also grew net profit. Bajaj Finserv has the lowest P/E at 12.88, while HDFC Asset Management Company leads on return on equity at 34.56%. Check each valuation against your own risk appetite before acting.
The under Rs 2900 stocks to buy in November 2026 start with five listed names: Bajaj Finserv, Dr Lal PathLabs, Happy Forgings, HDFC Asset Management Company and Phoenix Mills. Stocks under Rs 2,900 include a financial holding company, a diagnostics chain, a forgings maker, a mutual fund manager and a mall developer, priced from about Rs 1,835 to Rs 2,640. Bajaj Finserv is part of the Nifty 50.
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 2900 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 2900 Stocks to Buy in November 2026?
The best under Rs 2900 stocks to buy in November 2026 for a watchlist are Bajaj Finserv, Dr Lal PathLabs, Happy Forgings, HDFC Asset Management Company and Phoenix Mills. 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 |
|---|---|---|---|---|---|
| Bajaj Finserv | 1,835 | Rs 2,65,782 crore | 12.88 | 12.58% | 0.09% |
| Dr Lal PathLabs | 1,967 | Rs 32,115 crore | 58.78 | 20.13% | 1.07% |
| Happy Forgings | 1,883 | Rs 16,943 crore | 51.75 | 14.17% | 0.22% |
| HDFC Asset Management Company | 2,640 | Rs 99,451 crore | 33.40 | 34.56% | 2.33% |
| Phoenix Mills | 2,126 | Rs 70,465 crore | 43.23 | 11.14% | 0.13% |
On valuation, Bajaj Finserv trades below the industry P/E; Dr Lal PathLabs and Happy Forgings sit close to it; HDFC Asset Management Company and Phoenix Mills carry a premium. Valuation is the first filter for any under Rs 2900 stocks to buy list, and it is covered again in the risk section.
Why These Under Rs 2900 Stocks to Buy Are in Focus
A higher share price does not make a stock better or worse value, because value depends on earnings and the number of shares. The list covers the holding company for Bajaj Finance and Bajaj Allianz, one of India’s largest diagnostic chains, a maker of precision forged and machined components, one of India’s largest mutual fund managers and a retail-led developer that owns large malls, all of which closed below Rs 2,900 on the NSE on 5 November. Investors searching for the best stocks under Rs 2,900 in India should check earnings, valuation and debt.
Bajaj Finserv: The Lending and Insurance Holding Company Among Under Rs 2900 Stocks to Buy
Bajaj Finserv is the holding company for Bajaj Finance and the Bajaj Allianz insurance businesses. The stock trades at Rs 1,835 with a market capitalisation of Rs 2,65,782 crore and a P/E of 12.88, against an industry P/E of 16.13.
FY26 revenue rose 13.2% to Rs 1,50,530 crore and net profit rose 12.0% to Rs 19,669 crore. In the June 2026 quarter, revenue grew 19.1% year on year to Rs 42,037 crore, while net profit grew 18.2% to Rs 6,297 crore.
Return on equity is 12.58%, and the dividend yield is 0.09%. Promoters hold 58.65%, foreign institutions 8.16% and domestic institutions 11.10% as of September 2026.
Dr Lal PathLabs: The Diagnostics Leader Among Under Rs 2900 Stocks to Buy
Dr Lal PathLabs is one of India’s largest diagnostic chains, with a national network of labs and collection centres. At Rs 1,967, the stock has a market capitalisation of Rs 32,115 crore and trades at 58.78 times earnings, while the industry P/E is 61.50.
Reported numbers show FY26 revenue of Rs 2,864 crore, up 12.1% year on year, with net profit at Rs 510 crore, up 3.6%. The June 2026 quarter added revenue of Rs 830 crore (up 18.9%) and net profit of Rs 170 crore (up 27.2%).
Return on equity is 20.13%, debt-to-equity is 0.08, and the dividend yield is 1.07%. Promoters hold 52.93%, foreign institutions 18.73% and domestic institutions 21.58% as of September 2026. Domestic institutional holding has risen from 18.49% to 21.58% over the last year.
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Happy Forgings: The Precision Forging Specialist Among Under Rs 2900 Stocks to Buy
Happy Forgings is a maker of precision forged and machined components for auto, industrial and renewable customers. Its market capitalisation is Rs 16,943 crore, the share price is Rs 1,883 and the P/E of 51.75 compares with an industry P/E of 48.76.
Over FY26, net profit rose 12.8% to Rs 302 crore on revenue of Rs 1,577 crore, which was up 9.0%. The latest quarter, the June 2026 quarter, brought revenue of Rs 460 crore, up 26.5% year on year, and net profit of Rs 91.5 crore, up 39.2%.
Return on equity is 14.17%, debt-to-equity is 0.15, and the dividend yield is 0.22%. Promoters hold 78.44%, foreign institutions 2.37% and domestic institutions 14.93% as of September 2026.
HDFC Asset Management Company: The Mutual Fund Leader Among Under Rs 2900 Stocks to Buy
HDFC Asset Management Company is one of India’s largest mutual fund managers. The stock trades at Rs 2,640 with a market capitalisation of Rs 99,451 crore and a P/E of 33.40, against an industry P/E of 16.15.
FY26 revenue rose 13.8% to Rs 4,622 crore and net profit rose 16.2% to Rs 2,858 crore. In the September 2026 quarter, revenue grew 10.5% year on year to Rs 1,241 crore, while net profit grew 4.2% to Rs 749 crore.
Return on equity is 34.56%, and the dividend yield is 2.33%. Promoters hold 52.29%, foreign institutions 24.07% and domestic institutions 14.57% as of September 2026.
Phoenix Mills: The Mall Owner Among Under Rs 2900 Stocks to Buy
Phoenix Mills is a retail-led developer that owns and operates large malls. At Rs 2,126, the stock has a market capitalisation of Rs 70,465 crore and trades at 43.23 times earnings, while the industry P/E is 31.04.
Reported numbers show FY26 revenue of Rs 4,594 crore, up 15.9% year on year, with net profit at Rs 1,557 crore, up 19.6%. The June 2026 quarter added revenue of Rs 1,115 crore (up 13.3%) and net profit of Rs 394 crore (up 23.0%).
Return on equity is 11.14%, debt-to-equity is 0.48, and the dividend yield is 0.13%. Promoters hold 47.24%, foreign institutions 31.62% and domestic institutions 17.31% as of September 2026. Domestic institutional holding has risen from 15.47% to 17.31% 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 2900 stocks, using filed results.
| Company | Full-Year Revenue Growth | Full-Year Profit Growth | Latest Quarter | Quarter Revenue Growth | Quarter Profit Growth |
|---|---|---|---|---|---|
| Bajaj Finserv | 13.2% | 12.0% | Jun 2026 | 19.1% | 18.2% |
| Dr Lal PathLabs | 12.1% | 3.6% | Jun 2026 | 18.9% | 27.2% |
| Happy Forgings | 9.0% | 12.8% | Jun 2026 | 26.5% | 39.2% |
| HDFC Asset Management Company | 13.8% | 16.2% | Sep 2026 | 10.5% | 4.2% |
| Phoenix Mills | 15.9% | 19.6% | Jun 2026 | 13.3% | 23.0% |
Factors That Move Under Rs 2900 Stocks to Buy
Four factors tend to drive under Rs 2900 stocks, and each one is worth checking before a purchase.
- Earnings growth: Profit should be rising.
- Sector mix: Finance, diagnostics, forgings, asset management and malls differ.
- Return on equity: HDFC AMC leads at about 35%.
- Dividends: HDFC AMC yields about 2.3%.
Risks to Keep in Mind Before Buying Under Rs 2900 Stocks
The first risk is that a share price says little about value, so earnings and valuation matter more. The second is that Dr Lal PathLabs and Happy Forgings trade at a P/E above 50, and fund manager income follows market levels. Check results every quarter.
On the numbers, Dr Lal PathLabs trades at the highest P/E on this list at 58.78, so its earnings need to keep growing to support the price. Under Rs 2900 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 2900 Stocks to Buy
- Look at earnings: Price alone is not a signal.
- Check P/E: Bajaj Finserv trades lowest.
- Read dividends: HDFC AMC yields the most.
- Diversify: Spread across the five sectors.
How to Invest in Under Rs 2900 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
Bajaj Finserv offers the lowest P/E on this list at 12.88, HDFC Asset Management Company has the highest return on equity at 34.56%, and Phoenix Mills posted the fastest net profit growth in its latest full year at 19.6%. Among the best under Rs 2900 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 2900 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 2900 Stocks to Buy
Which are the best under Rs 2900 stocks to buy in November 2026?
Ans. The five under Rs 2900 stocks on the November 2026 watchlist are Bajaj Finserv, Dr Lal PathLabs, Happy Forgings, HDFC Asset Management Company and Phoenix Mills. Bajaj Finserv has the lowest P/E at 12.88, HDFC Asset Management Company has the highest ROE at 34.56%, and Phoenix Mills grew net profit 19.6% in its latest full year. This is educational content, not investment advice, so please consult a SEBI-registered advisor.
Is Bajaj Finserv a good stock to buy from this Under Rs 2900 list?
Ans. Bajaj Finserv is the largest company on this list with a market capitalisation of Rs 2,65,782 crore and a P/E of 12.88 against an industry P/E of 16.13. Its FY26 revenue rose 13.2% and net profit rose 12.0%, with return on equity at 12.58%. 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 2900 stocks expensive right now?
Ans. Valuations vary across the group. Bajaj Finserv trades at a P/E of 12.88, Dr Lal PathLabs trades at a P/E of 58.78, Happy Forgings trades at a P/E of 51.75, HDFC Asset Management Company trades at a P/E of 33.40, Phoenix Mills trades at a P/E of 43.23, against industry multiples ranging from 16.13 to 61.50. Higher multiples reflect faster growth but also leave less room for earnings misses, so entry price deserves attention.
Which of these under Rs 2900 stocks pay a dividend?
Ans. Dividend yields on this list are Bajaj Finserv 0.09%, Dr Lal PathLabs 1.07%, Happy Forgings 0.22%, HDFC Asset Management Company 2.33%, Phoenix Mills 0.13%. 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. HDFC Asset Management Company has the highest ROE on this list at 34.56%, followed by Dr Lal PathLabs at 20.13% and Happy Forgings at 14.17%. 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 2900 stocks?
Ans. The main risks are high valuations at two names, market-linked income at the fund manager and borrowings at the holding company. On this list, Dr Lal PathLabs trades at the highest P/E of 58.78, 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 2900 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.