Top 15 Cheap Stocks to Buy in India in April 2026

Overview: 

• Cheap stocks in the Indian stock market can offer strong growth potential when backed by solid fundamentals and sector demand.

• Banking and PSU stocks like Indian Railway Finance Corp, NHPC, and Bank of Maharashtra show relatively better stability and value.

• High-risk stocks such as Vodafone Idea and GMR Airports may deliver returns but require careful tracking due to weak financials.

The Indian stock market has several minimal investment options available. A low price does not always imply a poor-performing company. Some of these companies are large and established but their prices have dropped due to market conditions, creating a chance for long-term growth if the business model is strong.

This list of 15 stocks includes companies from banking, finance, telecom, energy, and mining sectors. Each stock has different strengths and risks. A detailed research about the company’s fundamentals is necessary before you make any financial decisions.  

Stable Finance and Government Linked Stocks

Indian Railway Finance Corp Ltd is a large company in the finance sector. It has a market cap of Rs. 1,16,897.79 crore and the current market price of Rs. 92.93. The PE ratio is 17.98, which is reasonable. The stock fell in recent months with returns of -4.00% in 1 month, -26.87% in 6 months, and -24.09% in 1 year. The PB ratio is 2.22. Return on Equity is 12.77 and ROCE is 1.40. The company is linked to Indian Railways, so it offers long-term stability even if short-term gains are poor.

IDBI Bank Ltd is another important company with a market cap of Rs. 72,460.44 crore and trades at Rs. 69.64. The PE ratio is low at 9.50, suggesting the stock is undervalued. However, returns are negative with -33.76% in 1 month and -5.30% in 1 year. Return on Equity is 13.50 and ROCE is 10.39. This shows that the bank is still performing well despite the crash.

Telecom and Infrastructure Stocks

Vodafone Idea Ltd is a telecom company with a market cap of Rs. 94,258.44 crore and an extremely low price of Rs. 8.63. The PE ratio is negative at -3.44, and PB ratio is -1.34. The stock fell in the short term but has gained 17.26% in 1 year. This company’s financial situation make it risky, but it can also provide high returns if conditions improve.

GMR Airports Ltd operates in airport infrastructure. It has a market cap of Rs. 89,508.44 crore and CMP of Rs. 90.93. The PE ratio is -227.84, which shows losses. However, returns are improving with 2.87% growth in 6 months and 10.59% in 1 year. ROCE is 7.73, suggesting slow recovery and future potential.

Also Read - Best Performing Stocks of the Last 25 Years: Top 10 Picks of 2026

Renewable Energy Stocks

NTPC Green Energy Ltd is part of the growing clean energy sector. It has a market cap of Rs. 81,634.28 crore and the latest trading price of Rs. 96.71. The PE ratio is high at 171.69. Returns are small with 12.19% in 1 month and 1.99% in 1 year. Return on Equity is 3.84 and ROCE is 3.48. The company’s growth is slow but the sector is strong.

NHPC Ltd is another renewable energy company with a market cap of Rs. 75,619.02 crore and a market trading price of Rs. 75.67. The PE ratio is 25.15. Returns are negative in recent months, but the company is stable. Return on Equity is 6.75 and ROCE is 6.44.

Suzlon Energy Ltd works in renewable energy equipment. It has a market cap of Rs. 54,776.44 crore and its latest trading price is Rs. 41.55. The PE ratio is 26.44 and PB ratio is 8.97. The company shows strong numbers with Return on Equity at 41.33 and ROCE at 24.15. Despite the drop, business performance looks strong.

Banking Stocks at Low Prices

Indian Overseas Bank has a market cap of Rs. 61,832.91 crore and a CMP of Rs. 32.94. The PE ratio is 18.21. Returns are negative in recent months. Return on Equity is 11.36 and ROCE is 5.52. These figures suggest the company’s performance is average.

Yes Bank Ltd is currently trading at Rs. 18.13 with a market cap of Rs. 55,385.27 crore. The PE ratio is 22.64. The stock has delivered 7.60% return in 1 year but has dropped recently. Return on Equity is 5.44 and ROCE is 2.31, which are low.

IDFC First Bank Ltd has a market cap of Rs. 51,813.68 crore and a price of Rs. 61.19. The PE ratio is 34.77. Returns are mixed. Return on Equity is 4.23 and ROCE is 2.02, suggesting slow growth.

Bank of Maharashtra Ltd is one of the better performers. It has a market cap of Rs. 47,933.77 crore and the latest trading price of Rs. 66.54. The PE ratio is low at 8.65. The stock has booked strong returns of 52.54% in 1 year. Return on Equity is 22.82 and ROCE is 8.89, showing strong performance.

Central Bank of India Ltd has a market cap of Rs. 29,471.36 crore and a trading price of Rs. 33.82. The PE ratio is 7.49 and PB ratio is 0.80, which is extremely low. Return on Equity is 11.33 and ROCE is 7.47, showing stable performance.

UCO Bank has a market cap of Rs. 29,342.57 crore and a CMP of Rs. 24.33. The PE ratio is 11.89. Returns are negative in all time periods. Return on Equity is 8.50 and ROCE is 5.57, indicating moderate strength.

Mining and Finance Companies

NMDC Ltd is a mining company with a market cap of Rs. 66,017.76 crore and a CMP of Rs. 81.74. The PE ratio is 10.11. The stock has booked strong returns of 33.34% in 1 year. Return on Equity is 23.59 and ROCE is 29.74.

Bajaj Housing Finance Ltd has a market cap of Rs. 65,388.33 crore and a trading price of Rs. 80.52. The PE ratio is 30.23. Returns are negative in all periods. Return on Equity is 13.44 and ROCE is 2.80, indicating average performance.

Also Read - Top-Performing Banking Stocks in April 2026: Where Smart Money Is Moving

Final Takeaway

The 15 stocks mentioned above offer different market opportunities. Some stocks are stable and backed by the government, while others are risky but show high-growth potential. Banking and PSU stocks are more stable, while telecom and infrastructure stocks carry higher risk. Renewable energy stocks hint at long-term growth.

PE ratio, returns, and profitability can help you understand which stocks have better potential. Strong business and good financial numbers are also important for long-term success.

FAQs

What are cheap stocks in the stock market?

Cheap stocks are shares available at lower prices, often with potential for future growth based on business performance.

Are low-priced stocks good for investment?

They can be good if the company has strong fundamentals, but some may carry higher risk.

Which sectors look promising in April 2026?

Banking, renewable energy, and infrastructure sectors show good potential based on current data.

Why is Vodafone Idea considered risky?

It has negative profitability, weak balance sheet, and high debt levels despite some positive returns.

Is NHPC a safe stock?

NHPC is relatively stable due to its government backing and steady renewable energy business, though growth is moderate.