Investing in the stock market is a great way to build wealth over time. While short-term trading can be risky, long-term investments tend to be more stable and reliable. In India, the stock market has shown strong growth potential, making it a good choice for long-term investors. This article will look at the best stocks to invest in for 2024.
We’ve chosen these stocks based on their strong performance, market position, and future growth prospects. By understanding their value, you can make informed decisions to secure your financial future. Let’s explore the top stocks for achieving your long-term investment goals.
Overview of 5 Best Long-Term Stocks to Invest in 2024
Here’s a detailed look at the top 5 long-term stocks in India for 2024, including their market capitalization, historical returns, and key features.
NEWGEN
- Company: Newgen Software Technologies Limited
- Sector: Business Process Management and Enterprise Content Management
- Market Cap: ₹13,366 Cr
- Current Price: ₹1,004.90
- Returns:
- 1-Year Return: 209.92%
- 3-Year Return: 272.88%
- 5-Year Return: 567.71%
- Overview: Newgen is a leader in its field with over 800 installations across 40+ countries. It is highly rated by industry analysts.
EVEREADY
- Company: Eveready Industries (India) Ltd.
- Sector: Battery Manufacturing and Consumer Goods
- Market Cap: ₹2,511 Cr
- Current Price: ₹347.40
- Returns:
- 1-Year Return: 5.02%
- 3-Year Return: 9.91%
- 5-Year Return: 406.93%
- Overview: Known for its dry cell batteries, Eveready is expanding its product range in the consumer goods sector.
SMSPHARMA
- Company: SMS Pharmaceuticals Ltd.
- Sector: Pharmaceutical Manufacturing
- Market Cap: ₹2,007 Cr
- Current Price: ₹236.87
- Returns:
- 1-Year Return: 147.50%
- 3-Year Return: 30.04%
- 5-Year Return: 322.54%
- Overview: SMS Pharmaceuticals is a major player in API manufacturing and is expanding into the CRAMS sector with enhanced facilities.
MIDHANI
- Company: Mishra Dhatu Nigam Limited (Midhani)
- Sector: Specialised Metals and Alloys
- Market Cap: ₹8,629 Cr
- Current Price: ₹460.75
- Returns:
- 1-Year Return: 64.34%
- 3-Year Return: 121%
- 5-Year Return: 262.13%
- Overview: Midhani is known for its advanced metallurgical facilities and high-quality production of superalloys and special metals.
Also Read: Hindenburg vs SEBI Chief: Key Statements and Impact on Stock Market
ALEMBIC LTD
- Company: Alembic Limited
- Sector: Pharmaceuticals
- Market Cap: ₹2,852 Cr
- Current Price: ₹111.06
- Returns:
- 1-Year Return: 52.87%
- 3-Year Return: -15.25%
- 5-Year Return: 170.88%
- Overview: Alembic focuses on producing pharmaceuticals and active ingredients, including for antidepressants and other medications.
Note: The information provided in this article is for informational purposes only and should not be considered as financial or investment advice. While every effort has been made to ensure the accuracy and reliability of the information, investing in the stock market involves risk and past performance is not indicative of future results.