Are SBI and Jayaswal Neco the Best Stocks to Buy Today? The January 30, 2026 Verdict

The market’s buzzing on this Friday, January 30, 2026, and everyone’s asking the same question: what are the stocks to buy today? Cutting through the noise, Bajaj Broking Research has released its latest recommendations, and they’re an intriguing mix of stability and high-potential growth. Their top picks? The undisputed leader in Indian banking, State Bank of India (SBI), and the small-cap contender, Jayaswal Neco Industries.

But should you follow their lead? Let’s dive deep into the rationale behind these picks, analyze the broader market sentiment for Nifty and Bank Nifty, and help you make an informed decision.

Market Outlook: What’s Next for Nifty & Bank Nifty?
Deep Dive: State Bank of India (SBI) – The Anchor Pick
Deep Dive: Jayaswal Neco Industries – The High-Reward Play
So, Should You Buy These Stocks to Buy Today?
Conclusion
Sources

Market Outlook: What’s Next for Nifty & Bank Nifty?

Before we zero in on individual stocks, it’s crucial to understand the battlefield. Bajaj Broking Research expects the broader market to trade in a consolidation phase. Specifically, they predict the Nifty 50 will likely move within the 25,000 to 25,550 range [[11]]. This suggests a period of cautious optimism, where stock-specific moves will likely outperform broad index rallies.

This environment is often perfect for large-cap, fundamentally strong companies like SBI to shine, as they can attract defensive capital. Meanwhile, selective small-caps with strong narratives, like Jayaswal Neco, can see significant momentum from traders looking for alpha. For more on navigating market volatility, check out our guide on [INTERNAL_LINK:market-volatility-strategies].

Deep Dive: State Bank of India (SBI) – The Anchor Pick

SBI isn’t just another bank; it’s practically a proxy for the health of the Indian economy. Its recent performance has been nothing short of stellar, having hit a fresh all-time high of ₹1,067.95 on January 29, 2026 [[26]]. This breakout from a month-long consolidation zone signals strong institutional confidence [[23]].

Why Bajaj Broking is Bullish

Bajaj Broking’s recommendation is underpinned by several robust factors:

Strong Credit Growth Guidance: SBI has raised its credit growth guidance for FY26, backed by a massive ₹7 lakh crore corporate loan pipeline [[24]].
Robust SME & Agri Momentum: The bank continues to see healthy traction in its Small and Medium Enterprise (SME) and agricultural lending segments, which are key drivers of its retail book.
Attractive Valuation: Despite its record highs, SBI trades at a relatively modest Price-to-Earnings (P/E) ratio of around 11.70, offering value compared to its growth prospects [[20]].

Deep Dive: Jayaswal Neco Industries – The High-Reward Play

In stark contrast to SBI’s blue-chip status, Jayaswal Neco Industries is a small-cap player in the iron and steel sector. As of January 29, 2026, its share price was hovering around ₹74.78 [[33]], well below its 52-week high of ₹94.30 [[5]]. This presents a potential entry point for risk-tolerant investors.

What’s Driving the Recommendation?

Bajaj Broking’s interest in Jayaswal Neco likely stems from its turnaround story and future potential:

Profitability & Turnaround: The company has returned to profitability, reporting sales of INR 1,727.23 crore for the third quarter ended December 2025 [[38]].
Attractive Valuation Metrics: While some analysts rate it a ‘Hold’ [[3]], others see value. A previous Bajaj Broking note from October 2025 had set a target price of ₹91 based on an EV/EBITDA multiple, suggesting a potential upside of 27% [[34]].
Small-Cap Resurgence Potential: In a consolidating market, capital often rotates into undervalued small-caps, which could benefit Jayaswal Neco.

For a deeper understanding of small-cap investing, see our primer on [INTERNAL_LINK:small-cap-investing-risks-and-rewards].

So, Should You Buy These Stocks to Buy Today?

The answer depends entirely on your investment profile.

For Conservative Investors: SBI is a compelling choice. It offers exposure to India’s economic growth with the stability of a government-backed institution. Its strong fundamentals and reasonable valuation make it a solid long-term holding.

For Aggressive Investors: Jayaswal Neco Industries presents a classic high-risk, high-reward opportunity. Its small-cap nature means it’s more volatile, but the potential for significant gains if its turnaround narrative plays out is real. It should only constitute a small portion of a well-diversified portfolio.

Remember, even the best stocks to buy today require careful position sizing and a clear exit strategy. Never invest based on a single recommendation.

Conclusion

Bajaj Broking Research’s dual recommendation of SBI and Jayaswal Neco Industries for January 30, 2026, offers a balanced approach for different investor types. SBI provides a bedrock of stability and consistent growth, while Jayaswal Neco offers a speculative play on a potential small-cap rebound. With the Nifty expected to consolidate, these stock-specific calls could be the key to navigating today’s market. Do your own due diligence, align any purchase with your risk tolerance, and remember that the market always has the final say.

Are SBI and Jayaswal Neco the Best Stocks to Buy Today? The January 30, 2026 Verdict