Under Rs 3500 Stocks to Buy in November 2026: 5 Names on the Watchlist

The under Rs 3500 stocks to buy in November 2026 start with five listed names: Asian Paints, Mphasis, Mahindra and Mahindra, Grasim Industries and Tata Consultancy Services. Stocks under Rs 3,500 include a paint maker, two IT services companies, a vehicle and tractor maker and a diversified Aditya Birla Group company, priced from about Rs 2,418 to Rs 3,138.

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 3500 stocks to buy to a portfolio. All prices are NSE closing prices of 4 November 2026, and financials come from company filings.

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Which Are the Best Under Rs 3500 Stocks to Buy in November 2026?

The best under Rs 3500 stocks to buy in November 2026 for a watchlist are Asian Paints, Mphasis, Mahindra and Mahindra, Grasim Industries and Tata Consultancy Services. 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
Asian Paints	2,418	Rs 2,19,177 crore	45.31	20.24%	1.20%
Mphasis	2,468	Rs 48,565 crore	25.42	17.34%	2.44%
Mahindra and Mahindra	2,962	Rs 3,56,893 crore	17.63	18.37%	1.11%
Grasim Industries	3,138	Rs 1,98,390 crore	17.62	4.80%	0.34%
Tata Consultancy Services	2,436	Rs 8,89,326 crore	17.15	43.37%	4.48%

On valuation, Mahindra and Mahindra and Grasim Industries trade below the industry P/E; Asian Paints and Tata Consultancy Services sit close to it; Mphasis carries a premium. Valuation is the first filter for any under Rs 3500 stocks to buy list, and it is covered again in the risk section.

Why These Under Rs 3500 Stocks to Buy Are in Focus

These are large, widely held names whose per-share prices run into the thousands, and each has a market capitalisation above Rs 48,000 crore. The list covers a large paint maker, the IT services company with the largest market capitalisation in India, a mid-sized IT firm focused on banking, an SUV and tractor maker and a diversified group company. Investors searching for the best stocks under Rs 3,500 in India should check earnings, valuation and dividends, since a high price does not mean high value.

Asian Paints: The Paint Market Leader Among Under Rs 3500 Stocks to Buy

Asian Paints is India's largest paint maker, with a vast dealer network and a growing home-decor business. Its market capitalisation is Rs 2,19,177 crore, the share price is Rs 2,418 and the P/E of 45.31 compares with an industry P/E of 41.91.

Over FY26, net profit rose 18.5% to Rs 4,395 crore on revenue of Rs 36,307 crore, which was up 5.3%. The latest quarter, the June 2026 quarter, brought revenue of Rs 10,783 crore, up 18.1% year on year, and net profit of Rs 1,559 crore, up 39.6%.

Return on equity is 20.24%, debt-to-equity is 0.18, and the dividend yield is 1.20%. Promoters hold 52.65%, foreign institutions 13.76% and domestic institutions 19.42% as of September 2026. Foreign institutional holding has risen from 11.64% to 13.76% over the last year.

Mphasis: The BFSI-Focused Services Name Among Under Rs 3500 Stocks to Buy

Mphasis is an IT services company focused on banking, financial services and technology clients. The stock trades at Rs 2,468 with a market capitalisation of Rs 48,565 crore and a P/E of 25.42, against an industry P/E of 18.92.

FY26 revenue rose 11.9% to Rs 16,206 crore and net profit rose 9.4% to Rs 1,863 crore. In the June 2026 quarter, revenue grew 17.1% year on year to Rs 4,467 crore, while net profit grew 10.8% to Rs 490 crore.

Return on equity is 17.34%, debt-to-equity is 0.24, and the dividend yield is 2.44%. Promoters hold 30.53%, foreign institutions 19.39% and domestic institutions 45.85% as of September 2026. Domestic institutional holding has risen from 37.07% to 45.85% over the last year.

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Mahindra and Mahindra: The SUV and Tractor Leader Among Under Rs 3500 Stocks to Buy

Mahindra and Mahindra is India's leading SUV and tractor maker, with farm equipment, commercial vehicles and services arms. At Rs 2,962, the stock has a market capitalisation of Rs 3,56,893 crore and trades at 17.63 times earnings, while the industry P/E is 23.63.

Reported numbers show FY26 revenue of Rs 2,02,084 crore, up 25.2% year on year, with net profit at Rs 18,622 crore, up 32.3%. The June 2026 quarter added revenue of Rs 59,204 crore (up 27.5%) and net profit of Rs 5,998 crore (up 37.0%).

Return on equity is 18.37%, debt-to-equity is 1.44, and the dividend yield is 1.11%. Promoters hold 18.39%, foreign institutions 33.35% and domestic institutions 34.24% as of September 2026. Domestic institutional holding has risen from 29.96% to 34.24% over the last year. A point to keep in view: debt is higher than most names on this list.

Grasim Industries: The Diversified Group Company Among Under Rs 3500 Stocks to Buy

Grasim Industries is a diversified Aditya Birla Group company with chemicals, fibre and paints businesses and a holding in UltraTech Cement. Its market capitalisation is Rs 1,98,390 crore, the share price is Rs 3,138 and the P/E of 17.62 compares with an industry P/E of 30.10.

Over FY26, net profit rose 32.8% to Rs 10,300 crore on revenue of Rs 1,76,611 crore, which was up 17.8%. The latest quarter, the June 2026 quarter, brought revenue of Rs 49,021 crore, up 21.2% year on year, and net profit of Rs 3,846 crore, up 38.8%.

Return on equity is 4.80%, debt-to-equity is 2.20, and the dividend yield is 0.34%. Promoters hold 45.20%, foreign institutions 17.09% and domestic institutions 15.25% as of September 2026. A point to keep in view: debt is higher than most names on this list, and return on equity is a modest 4.80%.

Tata Consultancy Services: The IT Services Bellwether Among Under Rs 3500 Stocks to Buy

Tata Consultancy Services is India's largest IT services company by market capitalisation, with a global client base. The stock trades at Rs 2,436 with a market capitalisation of Rs 8,89,326 crore and a P/E of 17.15, against an industry P/E of 17.58.

FY26 revenue rose 4.7% to Rs 2,71,423 crore and net profit rose 1.3% to Rs 49,454 crore. In the September 2026 quarter, revenue grew 11.8% year on year to Rs 74,525 crore, while net profit grew 14.9% to Rs 13,934 crore.

Return on equity is 43.37%, debt-to-equity is 0.10, and the dividend yield is 4.48%. Promoters hold 71.77%, foreign institutions 9.01% and domestic institutions 12.46% as of September 2026.

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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 3500 stocks, using filed results.

Company	Full-Year Revenue Growth	Full-Year Profit Growth	Latest Quarter	Quarter Revenue Growth	Quarter Profit Growth
Asian Paints	5.3%	18.5%	Jun 2026	18.1%	39.6%
Mphasis	11.9%	9.4%	Jun 2026	17.1%	10.8%
Mahindra and Mahindra	25.2%	32.3%	Jun 2026	27.5%	37.0%
Grasim Industries	17.8%	32.8%	Jun 2026	21.2%	38.8%
Tata Consultancy Services	4.7%	1.3%	Sep 2026	11.8%	14.9%

Factors That Move Under Rs 3500 Stocks to Buy

Four factors tend to drive under Rs 3500 stocks, and each one is worth checking before a purchase.

• Scale: Large companies tend to trade easily.
• Dividends: All five pay dividends.
• Sector mix: Paints, IT, autos and diversified manufacturing differ.
• Valuation: Compare P/E with the industry.

Risks to Keep in Mind Before Buying Under Rs 3500 Stocks

The first risk is that IT services depend on global client spending, while paints, autos and diversified businesses follow domestic demand and input costs. The second is that a high per-share price says nothing about value. Check results every quarter.

On the numbers, Asian Paints trades at the highest P/E on this list at 45.31, so its earnings need to keep growing to support the price. Under Rs 3500 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 3500 Stocks to Buy

• Check growth: Look at revenue and profit trends.
• Read dividend history: Several years of payouts matter.
• Review debt: Diversified groups can carry more of it.
• Compare valuations: Large names often trade at premiums.

How to Invest in Under Rs 3500 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

Tata Consultancy Services offers both the lowest P/E on this list at 17.15 and the highest return on equity at 43.37%, and Grasim Industries posted the fastest net profit growth in its latest full year at 32.8%. Among the best under Rs 3500 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 3500 stocks to buy.

Frequently Asked Questions on Under Rs 3500 Stocks to Buy

Which are the best under Rs 3500 stocks to buy in November 2026?

Ans. The five under Rs 3500 stocks on the November 2026 watchlist are Asian Paints, Mphasis, Mahindra and Mahindra, Grasim Industries and Tata Consultancy Services. Tata Consultancy Services has both the lowest P/E at 17.15 and the highest ROE at 43.37%, and Grasim Industries grew net profit 32.8% in its latest full year. This is educational content, not investment advice, so please consult a SEBI-registered advisor.

Is Tata Consultancy Services a good stock to buy from this Under Rs 3500 list?

Ans. Tata Consultancy Services is the largest company on this list with a market capitalisation of Rs 8,89,326 crore and a P/E of 17.15 against an industry P/E of 17.58. Its FY26 revenue rose 4.7% and net profit rose 1.3%, with return on equity at 43.37%. 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 3500 stocks expensive right now?

Ans. Valuations vary across the group. Asian Paints trades at a P/E of 45.31, Mphasis trades at a P/E of 25.42, Mahindra and Mahindra trades at a P/E of 17.63, Grasim Industries trades at a P/E of 17.62, Tata Consultancy Services trades at a P/E of 17.15, against industry multiples ranging from 17.58 to 41.91. Higher multiples reflect faster growth but also leave less room for earnings misses, so entry price deserves attention.

Which of these under Rs 3500 stocks pay a dividend?

Ans. Dividend yields on this list are Asian Paints 1.20%, Mphasis 2.44%, Mahindra and Mahindra 1.11%, Grasim Industries 0.34%, Tata Consultancy Services 4.48%. 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. Tata Consultancy Services has the highest ROE on this list at 43.37%, followed by Asian Paints at 20.24% and Mahindra and Mahindra at 18.37%. 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 3500 stocks?

Ans. The main risks are global client spending for IT, domestic demand and input costs and premium valuations. On this list, Asian Paints trades at the highest P/E of 45.31, 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 3500 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.