Under Rs 650 Stocks to Buy in November 2026: 5 Names on the Watchlist
- November 6, 2026
- Posted by: Ankit Jaiswal
- Category: Best Stocks
Elgi Equipments Rs 547.10. JBM Auto Rs 503.65. JSW Energy Rs 523.35. Jubilant Food Rs 456.50. Metropolis Healthcare Rs 571.00. NSE closing prices, 5 Nov 2026.
Quick Answer
Five under Rs 650 stocks to buy on the November 2026 watchlist are Elgi Equipments, JBM Auto, JSW Energy, Jubilant FoodWorks and Metropolis Healthcare. All five grew revenue in their latest full year, and all five also grew net profit. JSW Energy has the lowest P/E at 33.69, while Elgi Equipments leads on return on equity at 19.28%. Check each valuation against your own risk appetite before acting.
The under Rs 650 stocks to buy in November 2026 start with five listed names: Elgi Equipments, JBM Auto, JSW Energy, Jubilant FoodWorks and Metropolis Healthcare. Stocks under Rs 650 include a pizza and fast food chain, an auto components maker, a power producer, an air compressor maker and a diagnostics chain, priced from about Rs 457 to Rs 571.
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 650 stocks to buy to a portfolio. All prices are NSE closing prices of 5 November 2026, and financials come from company filings.
Click Here – Get Free Investment Predictions
Which Are the Best Under Rs 650 Stocks to Buy in November 2026?
The best under Rs 650 stocks to buy in November 2026 for a watchlist are Elgi Equipments, JBM Auto, JSW Energy, Jubilant FoodWorks and Metropolis Healthcare. 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 |
|---|---|---|---|---|---|
| Elgi Equipments | 547.10 | Rs 16,281 crore | 36.36 | 19.28% | 0.53% |
| JBM Auto | 503.65 | Rs 11,549 crore | 46.33 | 14.21% | 0.17% |
| JSW Energy | 523.35 | Rs 93,508 crore | 33.69 | 6.32% | 0.38% |
| Jubilant FoodWorks | 456.50 | Rs 27,786 crore | 61.74 | 18.69% | 0.28% |
| Metropolis Healthcare | 571.00 | Rs 11,493 crore | 56.65 | 12.56% | 0.90% |
On valuation, Elgi Equipments trades below the industry P/E; Jubilant FoodWorks and Metropolis Healthcare sit close to it; JBM Auto and JSW Energy carry a premium. Valuation is the first filter for any under Rs 650 stocks to buy list, and it is covered again in the risk section.
Why These Under Rs 650 Stocks to Buy Are in Focus
A mid-range share price does not mean a stock is inexpensive, because value depends on earnings and the number of shares. The list covers the operator of Domino’s and Dunkin’ outlets in India, a maker of auto components and buses, a power producer, a maker of air compressors and a diagnostics chain, all of which closed below Rs 650 on the NSE on 5 November. Investors searching for the best stocks under Rs 650 in India should check earnings, valuation and debt.
Elgi Equipments: The Air Compressor Specialist Among Under Rs 650 Stocks to Buy
Elgi Equipments is an air compressor maker with a large international business. At Rs 547.10, the stock has a market capitalisation of Rs 16,281 crore and trades at 36.36 times earnings, while the industry P/E is 42.61.
Reported numbers show FY26 revenue of Rs 4,068 crore, up 14.0% year on year, with net profit at Rs 430 crore, up 22.8%. The June 2026 quarter added revenue of Rs 1,083 crore (up 22.1%) and net profit of Rs 103 crore (up 20.7%).
Return on equity is 19.28%, debt-to-equity is 0.24, and the dividend yield is 0.53%. Promoters hold 31.19%, foreign institutions 20.20% and domestic institutions 11.47% as of September 2026. Domestic institutional holding has risen from 6.25% to 11.47% over the last year.
JBM Auto: The Components and Bus Maker Among Under Rs 650 Stocks to Buy
JBM Auto is a maker of auto components and buses, including electric buses. Its market capitalisation is Rs 11,549 crore, the share price is Rs 503.65 and the P/E of 46.33 compares with an industry P/E of 36.71.
Over FY26, net profit rose 10.9% to Rs 238 crore on revenue of Rs 6,227 crore, which was up 12.7%. The latest quarter, the September 2026 quarter, brought revenue of Rs 1,667 crore, up 18.4% year on year, and net profit of Rs 61.3 crore, up 11.0%.
Return on equity is 14.21%, debt-to-equity is 1.78, and the dividend yield is 0.17%. Promoters hold 67.53%, foreign institutions 1.93% and domestic institutions 0.13% as of September 2026.
Check Under Rs 650 Stocks Live on the Univest Screener
JSW Energy: The Growing Power Producer Among Under Rs 650 Stocks to Buy
JSW Energy is a power producer building thermal, hydro and renewable capacity. The stock trades at Rs 523.35 with a market capitalisation of Rs 93,508 crore and a P/E of 33.69, against an industry P/E of 19.93.
FY26 revenue rose 57.3% to Rs 19,878 crore and net profit rose 39.3% to Rs 2,762 crore. In the September 2026 quarter, revenue grew 24.2% year on year to Rs 6,658 crore, while net profit grew 38.4% to Rs 1,141 crore.
Return on equity is 6.32%, debt-to-equity is 2.25, and the dividend yield is 0.38%. Promoters hold 66.53%, foreign institutions 10.91% and domestic institutions 16.71% as of September 2026. Domestic institutional holding has risen from 14.43% to 16.71% over the last year. A point to keep in view: return on equity is a modest 6.32%.
Jubilant FoodWorks: The Domino’s Operator Among Under Rs 650 Stocks to Buy
Jubilant FoodWorks is the master franchisee of Domino’s Pizza in India, which also runs other restaurant brands. At Rs 456.50, the stock has a market capitalisation of Rs 27,786 crore and trades at 61.74 times earnings, while the industry P/E is 67.43.
Reported numbers show FY26 revenue of Rs 9,587 crore, up 17.2% year on year, with net profit at Rs 386 crore, up 54.4%. The June 2026 quarter added revenue of Rs 2,588 crore (up 13.6%) and net profit of Rs 100 crore (up 6.0%).
Return on equity is 18.69%, debt-to-equity is 2.14, and the dividend yield is 0.28%. Promoters hold 40.27%, foreign institutions 13.29% and domestic institutions 40.34% as of September 2026. Domestic institutional holding has risen from 33.25% to 40.34% over the last year. A point to keep in view: at a P/E of 61.74, expectations are already high.
Metropolis Healthcare: The Diagnostics Network Among Under Rs 650 Stocks to Buy
Metropolis Healthcare is a diagnostics company with labs and collection centres across India and overseas. Its market capitalisation is Rs 11,493 crore, the share price is Rs 571.00 and the P/E of 56.65 compares with an industry P/E of 61.50.
Over FY26, net profit rose 31.4% to Rs 191 crore on revenue of Rs 1,671 crore, which was up 24.1%. The latest quarter, the June 2026 quarter, brought revenue of Rs 455 crore, up 15.7% year on year, and net profit of Rs 56.9 crore, up 25.7%.
Return on equity is 12.56%, debt-to-equity is 0.15, and the dividend yield is 0.90%. Promoters hold 47.82%, foreign institutions 11.67% and domestic institutions 35.49% as of September 2026. Domestic institutional holding has risen from 33.10% to 35.49% over the last year.
Download the Univest iOS App or Univest Android App to track these under Rs 650 stocks live and get daily stock recommendations.
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 650 stocks, using filed results.
| Company | Full-Year Revenue Growth | Full-Year Profit Growth | Latest Quarter | Quarter Revenue Growth | Quarter Profit Growth |
|---|---|---|---|---|---|
| Elgi Equipments | 14.0% | 22.8% | Jun 2026 | 22.1% | 20.7% |
| JBM Auto | 12.7% | 10.9% | Sep 2026 | 18.4% | 11.0% |
| JSW Energy | 57.3% | 39.3% | Sep 2026 | 24.2% | 38.4% |
| Jubilant FoodWorks | 17.2% | 54.4% | Jun 2026 | 13.6% | 6.0% |
| Metropolis Healthcare | 24.1% | 31.4% | Jun 2026 | 15.7% | 25.7% |
Factors That Move Under Rs 650 Stocks to Buy
Four factors tend to drive under Rs 650 stocks, and each one is worth checking before a purchase.
- Earnings growth: Profit should be rising.
- Sector mix: Food, auto parts, power, machinery and health differ.
- Dividends: Metropolis Healthcare yields about 0.9%.
- Valuation: P/E runs from about 34 to 62.
Risks to Keep in Mind Before Buying Under Rs 650 Stocks
The first risk is that a mid-range share price says little about value, so earnings and valuation matter more. The second is that Jubilant FoodWorks trades at a P/E above 61 while JSW Energy trades near 34, and JSW Energy carries the highest borrowings of the five. Check results every quarter.
On the numbers, Jubilant FoodWorks trades at the highest P/E on this list at 61.74, so its earnings need to keep growing to support the price. Under Rs 650 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 650 Stocks to Buy
- Look at earnings: Price alone is not a signal.
- Check P/E: JSW Energy trades lowest.
- Read ROE: Elgi Equipments leads.
- Diversify: Spread across the five sectors.
How to Invest in Under Rs 650 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
JSW Energy offers the lowest P/E on this list at 33.69, Elgi Equipments has the highest return on equity at 19.28%, and Jubilant FoodWorks posted the fastest net profit growth in its latest full year at 54.4%. Among the best under Rs 650 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 650 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 650 Stocks to Buy
Which are the best under Rs 650 stocks to buy in November 2026?
Ans. The five under Rs 650 stocks on the November 2026 watchlist are Elgi Equipments, JBM Auto, JSW Energy, Jubilant FoodWorks and Metropolis Healthcare. JSW Energy has the lowest P/E at 33.69, Elgi Equipments has the highest ROE at 19.28%, and Jubilant FoodWorks grew net profit 54.4% in its latest full year. This is educational content, not investment advice, so please consult a SEBI-registered advisor.
Is JSW Energy a good stock to buy from this Under Rs 650 list?
Ans. JSW Energy is the largest company on this list with a market capitalisation of Rs 93,508 crore and a P/E of 33.69 against an industry P/E of 19.93. Its FY26 revenue rose 57.3% and net profit rose 39.3%, with return on equity at 6.32%. 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 650 stocks expensive right now?
Ans. Valuations vary across the group. Elgi Equipments trades at a P/E of 36.36, JBM Auto trades at a P/E of 46.33, JSW Energy trades at a P/E of 33.69, Jubilant FoodWorks trades at a P/E of 61.74, Metropolis Healthcare trades at a P/E of 56.65, against industry multiples ranging from 19.93 to 67.43. Higher multiples reflect faster growth but also leave less room for earnings misses, so entry price deserves attention.
Which of these under Rs 650 stocks pay a dividend?
Ans. Dividend yields on this list are Elgi Equipments 0.53%, JBM Auto 0.17%, JSW Energy 0.38%, Jubilant FoodWorks 0.28%, Metropolis Healthcare 0.90%. Yields are modest across the group, so most investors look at these stocks for growth in earnings rather than for income, and payouts can change with company profits.
Which stock on this list has the highest return on equity?
Ans. Elgi Equipments has the highest ROE on this list at 19.28%, followed by Jubilant FoodWorks at 18.69% and JBM Auto at 14.21%. 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 650 stocks?
Ans. The main risks are mid-range prices that say little about value, borrowings at the power producer and consumer spending cycles. On this list, Jubilant FoodWorks trades at the highest P/E of 61.74, 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 650 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.
