Investing in stocks is a strategic avenue if you are looking to build wealth over the long term. The Indian share market, with its dynamic growth prospects and diverse range of sectors, offers many opportunities for investors.
As we step into 2024, it becomes crucial to identify long-term stocks to build a robust investment portfolio to achieve financial goals.This article aims to highlight the top stocks with the highest probability of substantial growth in the long term.
List of Top 8 Long-Term Stocks to Invest in Indian Share Market in 2024
Here’s the list of some long-term stocks that you can choose for investment in 2024.
| Company | Sector Index | Market Cap (₹ Cr) | Stock Price (₹) | PE Ratio | EPS (₹)
(31/03/24) |
| Persistent Systems Ltd | NIFTY IT | 56,662.67 | 3,678.20 | 50.09 | 11.95 |
| Cholamandalam Investment and Finance Company Ltd | NIFTY FINANCIAL SERVICES | 1,06,164.37 | 1,263.80 | 31.06 | 12.60 |
| Tata Elxsi Ltd | NIFTY 500 | 45,737.37 | 7,346.05 | 57.97 | 31.62 |
| Varun Beverages Ltd | NIFTY FMCG | 1,92,055.27 | 1,478.00 | 88.02 | 3.61 |
| Tube Investments of India Ltd | NIFTY 500 | 73,863.52 | 3,819.10 | 62.45 | 12.82 |
| PI Industries Ltd | NIFTY 500 | 55,654.76 | 3,668.30 | 32.97 | 25.34 |
| Solar Industries India Ltd | NIFTY INFRASTRUCTURE | 88,861.23 | 9,820.00 | 103.66 | 19.82 |
| SRF Ltd | NIFTY 500 | 68,355.56 | 2,306.00 | 50.80 | 14.75 |
Source: NSE as of 27th May 2024
Details of Top Stocks Issuing Companies
1. Persistent Systems Ltd
Company Overview: Founded in 1990, Persistent Systems Limited is currently a Digital Engineering Enterprise Modernization partner and one of the long-term stocks for investment. .
Products/Services: Meaning, it provides software products and technology services such as Application Development & Management, Cloud & Infrastructure, Enterprise IT Security, Consulting, etc., to banking and financial services, lifesciences, healthcare, telecom and media services, etc.
2. Cholamandalam Investment and Finance Company Ltd
Company Overview: With over 45 years in operation, Cholamandalam Investment and Finance Company offers a broad spectrum of financial services to its customers.
Products/Services: The company mainly deals in offering vehicle finance, home loans, loan against property, SME loans, personal and business loans, and more.
3. Tata Elxsi Ltd
Company Overview: A Tata Group subsidiary, Tata Elxsi Limited is considered among the long-term stocks to invest in. The company offers design and technology services globally to enhance customer experience and drive growth.
Products/Services: Tata Elxsi Ltd. offers services in research and strategy, design, product engineering,enterprise learning, etc., mainly to Automotive, Broadcast Communications, Healthcare, and Transportation sectors.
4. Varun Beverages Ltd
Company Overview: Varun Beverages Ltd, a significant component of the RJ Corp group, stands as the world’s second-largest franchisee of PepsiCo for carbonated and non-carbonated beverages, excluding the US.
Product/Services: One of the top FMCG players in the Indian market, Varun Beverages offers bottling and distributing services to brands owned by PepsiCo, co-manufacturing of Kurkure Puffcorn in India and distribution and sales of Lays, Doritos and Cheetos in Morocco.
5. Tube Investments of India Ltd
Company Overview: Initially, TI Financial Holdings Limited, Tube Investments of India Limited was established as a subsidiary of the former Tube Investments of India Limited. It is India’s leading engineering company engaged in the manufacturing of automotives, industrial chains, bicycles, etc.
Product/Services: Tube Investments in India Ltd. extends its divisions to mobility, engineering, metal formed products and others through its several subsidiaries and brands.
6. PI Industries Ltd
Company Overview: Founded in 1946, PI Industries Ltd, is a rapidly growing agri-sciences company, operates internationally with three manufacturing facilities in Gujarat.
Products/Services: It offers a wide range of products including plant fertilizers, pesticides, insecticides, herbicides, etc. The company also offers R&D, CSM (Custom Synthesis and Manufacturing Solutions) and Distribution services to its clients.
7. Solar Industries India Ltd
Company Overview: Solar Industries India Limited, was founded in 1995 and is now recognised as a renowned industrial explosive manufacturer globally.
Products/Services: The company manufactures a wide range of industrial explosives and initiating devices, as well as military ammunition.
8. SRF Ltd
Company Overview: SRF Limited is a chemical multi-business entity that leads in industrial and speciality intermediates. It has a global presence in over 90 countries operating across various sectors.
Products/Services: The conglomerate deals in Fluorochemicals, Speciality Chemicals, Packaging Films, Technical Textiles, Coated Fabrics and Laminated Fabrics businesses.
To Wrap Up
Stocks are, by default, volatile. Their prices may go up and down with market fluctuations, which can happen for several internal or external reasons. Remember always to seek the guidance of an investment advisory firm when choosing stocks that best suit you.
Disclaimer: The information provided above is subject to market risk. Please invest at your own risk. The data above has been extracted from the beginning of 2024. These figures can change with time. Please refer to the BSE/NSE Website for recent data.
Reference Links:
https://www.mstock.com/articles/10-best-shares-to-buy-today-for-long-term
https://www.smallcase.com/collections/long-term-stocks-to-buy/
https://www.indmoney.com/articles/top-5-stocks-to-invest
https://www.indmoney.com/articles/best-fundamentally-strong-stocks-to-invest
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