Low P/E stocks in India — P/E below 12

The price-to-earnings ratio is market cap divided by the last twelve months' profit: how many years of today's profit you pay for. A low P/E is where value hunting starts, not where it ends. Markets usually price a stock cheap for a reason, such as shrinking profits, a cyclical peak that will not last, governance worries or heavy debt. The Industry P/E column shows whether the company is cheap against its own peers or just in a cheaply valued industry, and the 3-year profit growth column shows whether the 'E' is growing or fading.