Indian Undiscovered Gems With Strong Fundamentals

Advait Energy Transitions

Market Cap: ₹20.4b

Provides products and solutions for power transmission, substation, and telecommunication infrastructure sectors in India and internationally.

Algoquant Fintech

Market Cap: ₹15.7b

Engages in the trading of financial instruments in India.

PIX Transmissions

Market Cap: ₹21.5b

Manufactures and sells belts and related mechanical power transmissions products in India and internationally.

Refex Industries

Market Cap: ₹58.5b

Engages in handling and disposal of fly ash in India.

Novartis India

Market Cap: ₹25.1b

Operates as a healthcare company in India.

Sathlokhar Synergys E&C Global

Market Cap: ₹10.0b

Operates as an integrated engineering, procurement, construction, and infra turnkey contracting company in India.

Waaree Renewable Technologies

Market Cap: ₹102.7b

Engages in the generation of power through renewable energy sources in India.

Gujarat Narmada Valley Fertilizers & Chemicals

Market Cap: ₹76.8b

Manufactures and markets fertilizers and chemicals in India and internationally.

Rhetan TMT

Market Cap: ₹14.7b

Engages in the manufacture and sale of thermo-mechanically treated (TMT) bars in India.

TAJGVK Hotels & Resorts

Market Cap: ₹25.0b

Engages in the business of owning, operating, and managing hotels, palaces, and resorts under the TAJ brand in India.

Alpex Solar

Market Cap: ₹24.4b

Designs, manufactures, and sells power photovoltaic (PV) modules and solar systems in India.

Ganesh Housing

Market Cap: ₹79.6b

Engages in the real estate and construction businesses in India.

Bliss GVS Pharma

Market Cap: ₹14.6b

Develops, manufactures, and markets pharmaceutical formulations in India and internationally.

IST

Market Cap: ₹10.9b

Engages in the manufacture and sale of auto components in India.

Aimtron Electronics

Market Cap: ₹11.8b

Provides electronics system design and manufacturing services in the United States, the United Kingdom, India, Hong Kong, Spain, and North America.

Ultramarine & Pigments

Market Cap: ₹14.7b

Engages in the manufacture and sale of pigments and surfactants in India.

Venky's (India)

Market Cap: ₹22.6b

Primarily engages in the production and sale of poultry products in India and internationally.

Bondada Engineering

Market Cap: ₹48.4b

Provides engineering, procurement, and construction, and operations and maintenance services for telecom and renewable energy sectors in India.

National Fertilizers

Market Cap: ₹48.2b

Engages in the production and marketing of neem coated urea, bio-fertilizers, and other allied Industrial products in India.

Lloyds Engineering Works

Market Cap: ₹84.4b

Provides engineering products and services in India.

Vascon Engineers

Market Cap: ₹10.6b

Provides engineering, procurement, and construction (EPC) services in India.

ESAB India

Market Cap: ₹77.5b

Manufactures and sells welding and cutting equipment and consumables in India.

Kwality Pharmaceuticals

Market Cap: ₹10.7b

Together with its subsidiary, manufactures, buys, sells, and deals finished pharmaceutical formulations in India and internationally.

Krishna Defence and Allied Industries

Market Cap: ₹12.4b

Engages in the designing, developing, and manufacturing range of equipment for defence, security, dairy, and kitchen verticals in India.

Pondy Oxides And Chemicals

Market Cap: ₹19.8b

A secondary lead manufacturer company, produces and sells lead, lead alloys, and plastic additives in India.

Kody Technolab

Market Cap: ₹10.5b

Provides software development services in India, the United States, Canada, the United Kingdom, and internationally.

Kalyani Steels

Market Cap: ₹38.5b

Manufactures and sells iron and steel products.

Rajesh Power Services

Market Cap: ₹25.0b

Provides turnkey projects services in India.

BMW Industries

Market Cap: ₹11.6b

Manufactures, processes, and sells steel products primarily in India.

Vimta Labs

Market Cap: ₹21.2b

Provides contract research and testing services in India and internationally.

MosChip Technologies

Market Cap: ₹33.5b

A semiconductor and system design company, designs, develops, manufactures, and sells system on chip technologies and Internet on Things solutions in India, North America, and the Asia Pacific.

Manoj Vaibhav Gems 'N' Jewellers

Market Cap: ₹12.4b

Engages in the jewelry retail business under the Vaibhav Jewellers brand in India.

PTC India Financial Services

Market Cap: ₹26.8b

A non-banking finance company, provides various financing solutions primarily in India.

India Tourism Development

Market Cap: ₹50.4b

Operates in the travel, tourism, and hospitality industry in India.

Shanti Educational Initiatives

Market Cap: ₹13.2b

Provides educational services in India.

Sree Rayalaseema Hi-Strength Hypo

Market Cap: ₹10.5b

Produces and sells industrial chemicals in India.