Turnaround Stocks to Buy in November 2026: 5 Names on the Watchlist

The turnaround stocks to buy in November 2026 start with five listed names: NRB Bearings, Nuvoco Vistas, Harsha Engineers International, Jindal Steel and Power and Jubilant FoodWorks. Turnaround stocks are companies whose profit dipped in FY25 and recovered in FY26, which can point to improving conditions in the business.

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 turnaround stocks to buy to a portfolio. All prices are NSE closing prices of 3 November 2026, and financials come from company filings.

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Which Are the Best Turnaround Stocks to Buy in November 2026?

The best turnaround stocks to buy in November 2026 for a watchlist are NRB Bearings, Nuvoco Vistas, Harsha Engineers International, Jindal Steel and Power and Jubilant FoodWorks. 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
NRB Bearings	465.85	Rs 4,407 crore	29.26	14.83%	1.25%
Nuvoco Vistas	338.05	Rs 11,940 crore	28.79	4.34%	0.00%
Harsha Engineers International	440.05	Rs 3,890 crore	25.15	11.07%	0.35%
Jindal Steel and Power	1,105	Rs 1,08,231 crore	38.06	6.16%	0.19%
Jubilant FoodWorks	422.00	Rs 27,786 crore	61.74	18.69%	0.28%

On valuation, NRB Bearings and Harsha Engineers International trade below the industry P/E; Nuvoco Vistas and Jubilant FoodWorks sit close to it; Jindal Steel and Power carries a premium. Valuation is the first filter for any turnaround stocks to buy list, and it is covered again in the risk section.

Why These Turnaround Stocks to Buy Are in Focus

In this list, FY25 net profit was lower than the year before, and FY26 profit recovered, with the rebound at Nuvoco coming from a very low base. The list covers a bearings maker, a cement maker, an engineering components maker, an integrated steel producer and a pizza and food chain operator. Investors comparing the best turnaround stocks in India usually check whether the recovery is supported by volumes and margins, and not only by a low comparison base.

NRB Bearings: The Needle Roller Specialist Among Turnaround Stocks to Buy

NRB Bearings is a maker of needle roller bearings for automobile and industrial customers. Its market capitalisation is Rs 4,407 crore, the share price is Rs 465.85 and the P/E of 29.26 compares with an industry P/E of 42.17.

Over FY26, net profit rose 76.9% to Rs 146 crore on revenue of Rs 1,370 crore, which was up 12.0%. The latest quarter, the June 2026 quarter, brought revenue of Rs 375 crore, up 17.4% year on year, and net profit of Rs 37.8 crore, up 15.1%.

Return on equity is 14.83%, debt-to-equity is 0.16, and the dividend yield is 1.25%. Promoters hold 43.88%, foreign institutions 18.65% and domestic institutions 14.35% as of September 2026. Domestic institutional holding has risen from 12.27% to 14.35% over the last year.

Nuvoco Vistas: The Eastern India Cement Name Among Turnaround Stocks to Buy

Nuvoco Vistas is a cement and ready-mix concrete maker focused on east India. The stock trades at Rs 338.05 with a market capitalisation of Rs 11,940 crore and a P/E of 28.79, against an industry P/E of 30.98.

FY26 revenue rose 9.5% to Rs 11,362 crore and net profit rose 1545.4% to Rs 359 crore. In the September 2026 quarter, revenue grew 13.5% year on year to Rs 2,793 crore, while net profit grew 77.8% to Rs 64.8 crore.

Return on equity is 4.34%, debt-to-equity is 0.58, and the dividend yield is negligible. Promoters hold 72.02%, foreign institutions 4.63% and domestic institutions 16.82% as of September 2026. A point to keep in view: return on equity is a modest 4.34%.

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Harsha Engineers International: The Bearing Cage Exporter Among Turnaround Stocks to Buy

Harsha Engineers International is a precision bearing cage and fabricated components maker with a large export share. At Rs 440.05, the stock has a market capitalisation of Rs 3,890 crore and trades at 25.15 times earnings, while the industry P/E is 42.61.

Reported numbers show FY26 revenue of Rs 1,665 crore, up 15.2% year on year, with net profit at Rs 155 crore, up 73.8%. The June 2026 quarter added revenue of Rs 463 crore (up 23.1%) and net profit of Rs 37.4 crore (down 1.5%).

Return on equity is 11.07%, debt-to-equity is 0.27, and the dividend yield is 0.35%. Promoters hold 75.00%, foreign institutions 1.12% and domestic institutions 13.93% as of September 2026. Domestic institutional holding has risen from 12.47% to 13.93% over the last year.

Jindal Steel and Power: The Eastern India Steelmaker Among Turnaround Stocks to Buy

Jindal Steel and Power is a steel and power company with large plants in eastern India. Its market capitalisation is Rs 1,08,231 crore, the share price is Rs 1,105 and the P/E of 38.06 compares with an industry P/E of 19.82.

Over FY26, net profit rose 18.1% to Rs 3,361 crore on revenue of Rs 53,783 crore, which was up 6.9%. The latest quarter, the September 2026 quarter, brought revenue of Rs 19,448 crore, up 44.0% year on year, and net profit of Rs 771 crore, up 21.3%.

Return on equity is 6.16%, debt-to-equity is 0.43, and the dividend yield is 0.19%. Promoters hold 62.69%, foreign institutions 8.75% and domestic institutions 17.82% as of September 2026. A point to keep in view: return on equity is a modest 6.16%.

Jubilant FoodWorks: The Domino's Operator Among Turnaround Stocks to Buy

Jubilant FoodWorks is the master franchisee of Domino's Pizza in India, which also runs other restaurant brands. The stock trades at Rs 422.00 with a market capitalisation of Rs 27,786 crore and a P/E of 61.74, against an industry P/E of 67.43.

FY26 revenue rose 17.2% to Rs 9,587 crore and net profit rose 54.4% to Rs 386 crore. In the June 2026 quarter, revenue grew 13.6% year on year to Rs 2,588 crore, while net profit grew 6.0% to Rs 100 crore.

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, and debt is higher than most names on this list.

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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 turnaround stocks, using filed results.

Company	Full-Year Revenue Growth	Full-Year Profit Growth	Latest Quarter	Quarter Revenue Growth	Quarter Profit Growth
NRB Bearings	12.0%	76.9%	Jun 2026	17.4%	15.1%
Nuvoco Vistas	9.5%	1545.4%	Sep 2026	13.5%	77.8%
Harsha Engineers International	15.2%	73.8%	Jun 2026	23.1%	-1.5%
Jindal Steel and Power	6.9%	18.1%	Sep 2026	44.0%	21.3%
Jubilant FoodWorks	17.2%	54.4%	Jun 2026	13.6%	6.0%

Factors That Move Turnaround Stocks to Buy

Four factors tend to drive turnaround stocks, and each one is worth checking before a purchase.

• Recovery pace: FY26 profit should show a clear rebound.
• Base effect: A low FY25 makes growth look larger.
• Latest quarter: Momentum should continue into FY27.
• Valuation: Recovery may already be in the price.

Risks to Keep in Mind Before Buying Turnaround Stocks

The first risk is the base effect, because a rebound from a weak year looks stronger in percentage terms than it is. The second is that recovery depends on demand, input costs and pricing in each industry. Check the latest quarter along with the full year.

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. Turnaround 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 Turnaround Stocks to Buy

• Check the cause: Know what hurt FY25 and what changed.
• Study the trend: Look at the last several quarters.
• Review debt: Lower borrowings aid recovery.
• Compare valuations: Do not pay for a rebound twice.

How to Invest in Turnaround Stocks

1. Shortlist two or three companies from this list that match your risk appetite.
2. Open the Univest Screener and compare P/E, ROE and debt for each stock.
3. Check the latest quarterly results and shareholding pattern on NSE or BSE.
4. Decide an amount you can hold for three to five years and split it into two or three purchases.
5. Review the holding after every quarterly result instead of reacting to daily price moves.

Conclusion

Harsha Engineers International offers the lowest P/E on this list at 25.15, Jubilant FoodWorks has the highest return on equity at 18.69%, and Nuvoco Vistas posted the fastest net profit growth in its latest full year at 1545.4%. Among the best turnaround 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 turnaround stocks to buy.

Frequently Asked Questions on Turnaround Stocks to Buy

Which are the best turnaround stocks to buy in November 2026?

Ans. The five turnaround stocks on the November 2026 watchlist are NRB Bearings, Nuvoco Vistas, Harsha Engineers International, Jindal Steel and Power and Jubilant FoodWorks. Harsha Engineers International has the lowest P/E at 25.15, Jubilant FoodWorks has the highest ROE at 18.69%, and Nuvoco Vistas grew net profit 1545.4% in its latest full year. This is educational content, not investment advice, so please consult a SEBI-registered advisor.

Is Jindal Steel and Power a good stock to buy from this Turnaround list?

Ans. Jindal Steel and Power is the largest company on this list with a market capitalisation of Rs 1,08,231 crore and a P/E of 38.06 against an industry P/E of 19.82. Its FY26 revenue rose 6.9% and net profit rose 18.1%, with return on equity at 6.16%. Whether it suits you depends on your risk appetite and holding period, so please consult a SEBI-registered advisor before investing.

Are these turnaround stocks expensive right now?

Ans. Valuations vary across the group. NRB Bearings trades at a P/E of 29.26, Nuvoco Vistas trades at a P/E of 28.79, Harsha Engineers International trades at a P/E of 25.15, Jindal Steel and Power trades at a P/E of 38.06, Jubilant FoodWorks trades at a P/E of 61.74, against industry multiples ranging from 19.82 to 67.43. Higher multiples reflect faster growth but also leave less room for earnings misses, so entry price deserves attention.

Which of these turnaround stocks pay a dividend?

Ans. Dividend yields on this list are NRB Bearings 1.25%, Harsha Engineers International 0.35%, Jindal Steel and Power 0.19%, Jubilant FoodWorks 0.28%. 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. Jubilant FoodWorks has the highest ROE on this list at 18.69%, followed by NRB Bearings at 14.83% and Harsha Engineers International at 11.07%. 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 turnaround stocks?

Ans. The main risks are base effects, demand and input cost swings and recovery already priced in. 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 turnaround 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.