Oriental Bank of Commerce

Exactly in June 2015, Oriental Bank of Commerce was trading at Rs 180. The stock has sunk from Rs 180 to Rs 95. The price to book of the stock is just 0.30 times, making the valuations very cheap.

Economic recovery could improve NPAs, which may now have peaked, providing a boost to the stock. Grossly undervalued despite worries over NPAs.

Bank of India

Bank of India is another stock, which is similar to Oriental Bank. The stock has halved from levels of Rs 187 to Rs 95 in the last 1 year.

Again, it has a price to book under 0.30 times, making it fairly attractive at current levels.

Jindal Saw

This is a good profitable company with a decent track record of paying dividend. The stock at Rs 55, is trading at a p/e of just 5 times, trailing EPS.

The company is among the top players in the world in the submerged arc welded pipe business.

Sintex Industries

Sintex is the world's largest plastic water tank manufacturer and also a player in the niche textile segment. For the quarter ended March 31, 2016 the company reported a good set of numbers. The stock is trading at a p/e of just 4.5 times, trailing EPS. A good stock to buy at Rs 79, as the stock has fallen from levels of Rs 140. 

JSW Energy

This is another stock that is undervalued. The company reported a decent set of results, with EPS of almost Rs 2 for this quarter. The company has major expansion plans that could boost bottomline in the months to come. A good pick at Rs 80.

Andhra Bank

This is another stock that is deeply undervalued. We believe that NPAs have peaked and it may just be a right time to buy into PSU banking stocks with a strong franchisee.

The stock is available with dividend.

NCC

If you hold this stock for another 4-5 years, it has the potential your money.

The company is an excellent play on the infra sector with a sizeable order book position.

With the government's thrust on infra, we believe this stock could yield good returns.