Indian Undervalued over 20% based on DCF

Life Insurance Corporation of India

Market Cap: ₹4.6t

Provides life insurance products in India, Fiji, Mauritius, and the United Kingdom.

Vedanta

Market Cap: ₹2.7t

A diversified natural resources company, explores, extracts, and processes minerals, and oil and gas in India, Europe, China, the United States, Mexico, and internationally.

Adani Enterprises

Market Cap: ₹2.4t

Operates in the new energy ecosystem, data center, airports, roads, copper, digital space, ropeway system, and other sectors in India and internationally.

InterGlobe Aviation

Market Cap: ₹1.6t

Provides air transportation services under the IndiGo brand in India and internationally.

Power Finance

Market Cap: ₹1.3t

A non-banking finance company, provides financial products and related advisory services to the power, logistics, and infrastructure sectors in India.

Bharat Petroleum

Market Cap: ₹1.2t

Engages in refining crude oil and marketing petroleum products in India and internationally.

Jindal Steel

Market Cap: ₹1.2t

Operates in the steel, mining, and infrastructure sectors in India and internationally.

Canara Bank

Market Cap: ₹1.2t

Provides various banking products and services in India and internationally.

GMR Airports

Market Cap: ₹938.4b

GMR Airports Limited development, maintenance, and operation of airports in India.

GAIL (India)

Market Cap: ₹931.9b

Operates as a natural gas processing and distribution company in India and internationally.

UPL

Market Cap: ₹500.7b

Manufactures and sells pesticides, insecticides, and micronutrients in India, Brazil, the United States, the United Kingdom, and internationally.

Bank of Maharashtra

Market Cap: ₹491.4b

Provides various banking products and services in India.

Embassy Office Parks REIT

Market Cap: ₹407.6b

Owns, operates, and invests in real estate and related assets in India.

J.K. Cement

Market Cap: ₹398.9b

Manufactures and sells cement and its related products in India and internationally.

Petronet LNG

Market Cap: ₹382.0b

Engages in the import, storage, regasification, and supply of liquefied natural gas (LNG) in India.

Authum Investment & Infrastructure

Market Cap: ₹356.5b

A non-banking finance company, engages in investment, trading, and lending activities in India and internationally.

Mangalore Refinery and Petrochemicals

Market Cap: ₹319.4b

Engages in the manufacture and sale of refined petroleum products in India.

J. B. Chemicals & Pharmaceuticals

Market Cap: ₹314.1b

Manufactures and markets pharmaceutical formulations, herbal remedies, and active pharmaceutical ingredients (API) in India and internationally.

Mindspace Business Parks REIT

Market Cap: ₹296.5b

Mindspace Business Parks REIT, sponsored by K Raheja Corp group, listed on the Indian bourses in August 2020.

LIC Housing Finance

Market Cap: ₹284.6b

A housing finance company, provides loans for the purchase, construction, repair, and renovation of houses/buildings in India.

Apollo Tyres

Market Cap: ₹260.0b

Manufactures and sells automotive tires, tubes, and flaps in India and internationally.

Brookfield India Real Estate Trust

Market Cap: ₹240.0b

The Brookfield India Real Estate Trust is India’s only institutionally managed public commercial real estate vehicle.

Great Eastern Shipping

Market Cap: ₹205.3b

Through its subsidiaries, engages in the shipping and offshore businesses in India and internationally.

Hatsun Agro Product

Market Cap: ₹200.6b

Engages in the manufacture and marketing of milk, milk products, and cattle feed in India and internationally.

Aegis Vopak Terminals

Market Cap: ₹188.0b

Engages in the business of storage and terminalling facilities for LPG and chemical products in India.

Tata Chemicals

Market Cap: ₹166.3b

Manufactures, markets, sells, and distributes basic chemistry and specialty products in India, rest of Asia, Africa, Europe, the United Kingdom, the Americas, and internationally.

OneSource Specialty Pharma

Market Cap: ₹161.0b

A biopharmaceutical company, engages in the research, development, manufacture, and commercialization of biological drug products in various injectable formats in India, Ireland, the United States, and internationally.

Jain Resource Recycling

Market Cap: ₹159.9b

Engages in the manufacture and export of non-ferrous metal products by way of recycling of non-ferrous metal scrap.

PG Electroplast

Market Cap: ₹129.7b

Provides electronic manufacturing services for original equipment manufacturers in India and internationally.

Deepak Fertilisers And Petrochemicals

Market Cap: ₹125.6b

Engages in the manufacture, trade, and sale of bulk chemicals in India.

Graphite India

Market Cap: ₹124.7b

Manufactures and sells graphite electrodes, and carbon and graphite specialty products in India and internationally.

Indegene

Market Cap: ₹113.4b

Operates as a digital-first life sciences commercialization company in India, the United States, Europe, and internationally.

Happy Forgings

Market Cap: ₹112.1b

Manufactures and sells forgings and related components in India and internationally.

BLS International Services

Market Cap: ₹110.5b

Provides outsourcing and administrative task of visa, passport, and consular services to various diplomatic missions in India.

Godrej Agrovet

Market Cap: ₹109.6b

An agri-business company, provides products and services that enhance crop and livestock yields in India and internationally.

Aptus Value Housing Finance India

Market Cap: ₹99.9b

Together with its subsidiary, Aptus Finance India Private Limited, provides housing finance solutions in India.