How to identify the best long term stocks in India in 2024
In the last few years, equity investing has gained traction among the retail investors in India, and it is evident in the exponential growth of retail de-mat accounts opening in the last 3 or 4 years. In this blog, we are discussing how important it is to hold a de-mat account and start participating in India’s growth story as soon as possible and get the best long-term stocks in India in 2024, especially for young citizens of the country. Many of them still may not be looking at it with the seriousness it deserves.
Why we are all in for the long-term equity investments. The long-term investment in stocks is the best way to generate wealth. The long-term investment is all about understanding the right businesses to invest, get an insight into the future growth prospects of the company and building a conviction to invest for long term. This is not an easy task as the market keep on fluctuating on a daily basis based on macro and micro economic situations.
Nevertheless, if you pick the right stock, it will perform in the long run. Apart from this, there are many other factors you need to consider. Always build a strong mind and ignore all the noises out there in the market. You will need to build and practice more patience when it comes to long-term investments. You need to track the businesses you are investing, be very clear, not to track the stock on a daily basis. If you obey all these rules, there is no doubt long term investment is going to be a life changer for you. The most important reason behind this theory is the promising growth of Indian economy in coming decades.
So, while we are sure that we all need to make long term investments, where to invest.
If you look at the number of stocks in NSE or BSE, there are many. Even if you manage to find out a handful of good popular stocks, how to believe in them for long term. We are trying to identify some of these stocks that will benefit us in long term.
If you are in your twenties in India, some of the best long-term stocks to invest in include:
- Tata Consultancy Services (TCS): As a top global IT services company, TCS has a strong focus on innovation, a skilled workforce, and a healthy customer base, making it well-positioned to benefit from the growing demand for digital transformation services worldwide
- Infosys Limited: Another Indian IT giant, Infosys has regularly proven its ability to achieve steady growth and profitability, making it an attractive choice for long-term investors looking for exposure to the booming technology sector.
- HDFC Bank: With a strong financial position and a diverse range of services, HDFC Bank is a solid choice for long-term investments, offering a healthy balance sheet and solid cash flows.
- ITC Limited: ITC is a well-established company with a strong track record of growth and profitability. It has a diverse portfolio of products, including FMCG, agriproducts, paper products, and IT solutions, making it a good long-term investment option.
- Hindustan Unilever Limited: Hindustan Unilever is a leading consumer goods company with a strong brand portfolio and a history of consistent growth. It is a good long-term investment option due to its stable financials and dividend yield.
- Asian Paints: Asian Paints is a leading paint company with a strong brand presence and a history of consistent growth. It is a good long-term investment option due to its stable financials and dividend yield.
- Bharti Airtel: Bharti Airtel is a leading telecommunications company with a strong presence in India and a growing presence globally. It is a good long-term investment option due to its stable financials and dividend yield.
- Maruti Suzuki India Limited: Maruti Suzuki is a leading automobile manufacturer with a strong brand presence and a history of consistent growth. It is a good long-term investment option due to its stable financials and dividend yield.
- Avenue Supermart Limited: Avenue Supermart is a leading retail company with a strong brand presence and a history of consistent growth. It is a good long-term investment option due to its stable financials and dividend yield.
- Reliance Industries Limited (RIL): RIL is a conglomerate with diverse business interests ranging from energy to telecommunications. It has a strong financial position and is actively moving into new areas, making it a good long-term investment option.
These stocks are considered good long-term investments due to their strong financial positions, consistent growth, and dividend yields. However, it is essential to conduct thorough research and consider factors such as financial goals, risk tolerance, and market trends before making any investment decisions
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