3 Tariff Free Stocks to Add to Your Watchlist

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Discussions in the stock markets are currently focused on the potential imposition of a 500% tariff by the US on Indian exports.

Despite this uncertainty, investors now have the opportunity to shift their attention toward companies with robust domestic operations.

Here we present a few tariff-free stocks. These companies boast a solid presence in local markets and have promising growth strategies for the future.

These stocks are worth keeping an eye on.

#1 Rail Vikas Nigam

First on our list is Rail Vikas Nigam.

New lines, gauge conversion, electrification, metro systems, bridges, workshops, and port connectivity are among the railway projects the company works on.

Additionally, it manages turnkey projects like training facilities and green buildings, viaducts, level crossing removal, and station modernisation.

With the Union Budget in focus, the stock could gain attention on capex enhancement.

Financial Highlights of RVNL

Source: Equitymaster

On the financial front, Rail Vikas Nigam reported revenues of Rs 51,230 m for Q2 FY26, which was marginally higher than Rs 48,550 m.

The company's net profits dropped sharply to Rs 2,065 m in Q2 FY26 against Rs 3,021 YoY.

Rail Vikas Nigam has a total order book in excess of around Rs 900 bn at present.

Additionally, the company is bidding on a few HAM projects where the revenue would be consistent for the next twenty to twenty-five years of the concession period.

The company has maintained a revenue guidance of Rs 210-220 bn for the current financial year during a recent conference call with investors in November 2025.

All things considered, Rail Vikas Nigam exhibits promising future prospects due to India's growing rail infrastructure, government investments, and diversification into non-rail and manufacturing projects.

#2 Eco Recycling

Next on our list is the stock of Eco Recycling.

Eco Recycling is a leading e-waste management company, handling e-waste, including asset removal, inventory management, packing, reverse logistics, data destruction, asset recovery, recycling, and more.

Financial Highlights of Eco Recycling

Source: Equitymaster

On the financial front, the company saw revenues of Rs 144 m in Q2 FY26 vs Rs 129 m YoY.

The gross profit margins of Eco Recycling was 49.9% for the quarter ending September 2025, against 71.6% YoY. The company reported a net profit of Rs 56 m against Rs 82 m YoY.

In the second quarter, a new 6,000 MTPA lithium-ion battery recycling facility at Vasai was commissioned, increasing the overall recycling capacity to 31,200 MTPA.

The expansion was entirely financed by internal accruals, demonstrating the company's dedication to a debt-free and self-sustaining growth trajectory.

Looking ahead, the company is preparing to commission a mineral recovery facility focused on PCBs, hard drives, and lithium ion batteries. This will help recover valuable metals such as cobalt, nickel, and manganese for domestic industries, reducing import dependence and contributing to India's self-reliance in critical minerals.

With growing capacity, strong financial management, and rising policy support, the company's leadership remains optimistic about sustaining its growth trajectory.

#3 HG Infra Engineering

Established in 2003, the company has built strong proficiency in EPC and hybrid annuity model (HAM) projects across civil and related infrastructure works.

Financial Snapshot of HG Infra Engineering

Source: Equitymaster

On the financial front, the company reported revenues in Q2 FY26 of Rs 9,045 m vs Rs 9,024 YoY. The net profits of HG Infra Engineering was Rs 523 m vs Rs 804 YoY.

Moving ahead, the company's portfolio now includes more than 29 active projects spread across 13 Indian states, including 7 rail metro projects. The order book as at the end of September 25 stands at Rs 139.33 bn.

In FY26, HG Infra Engineering aims to secure transmission and distribution projects worth Rs 10 bn. It has secured one project valued at about Rs 3.5 bn. According to the management of the company it remains active in the transmission space and continues to participate actively into the upcoming tenders.

In terms of BESS, the company has executed a binding agreement with GUVNL and NVVN for a 435 MW/ 870 MW hour project, scheduled for completion in November 2026 and December 2026, respectively.

HG Infra Engineering's future prospects appear good, driven by a strong order pipeline, strategic diversification, and broad infrastructure capex in India.

Investors should evaluate the company's fundamentals, corporate governance, and valuations of the stock as key factors when conducting due diligence before making investment decisions.

Disclaimer: This article is for information purposes only. It is not a stock recommendation and should not be treated as such. Learn more about our recommendation services here...