Value stocks are shares of companies that appear to be trading below their intrinsic worth based on fundamental valuation metrics such as a low Price-to-Earnings (P/E) ratio, low Price-to-Book (P/B) ratio, or high dividend yield relative to their sector peers. Value investors—following the philosophy of Benjamin Graham and Warren Buffett—seek out these undervalued businesses with the expectation that the market will eventually recognise their true worth, driving the share price upward. In India, value investing strategies have been successfully implemented in sectors like public sector banks, commodities, and traditional manufacturing companies.