Do you have significant financial goals and dreams for your future? Well, investing in the stock market can help you achieve them. But let’s be honest: it is not a walk in the park. The market can be unpredictable and volatile, especially for short-term investments.
But how do you know which are good long-term stocks to buy? How can you spot stocks that stand resilient against market twists? Don’t worry— we have got your back!
We have compiled a list of the 10 best shares to buy today for long-term growth. Whether you are a pro-investor or just starting, our guide will help you make sound investment decisions. So, let’s dive in!
10 Best Long-Term Stocks to Buy in 2024
Choosing the right stocks is crucial. After all, it can be the difference between making a profit and hitting it big! Here are the 10 best shares to buy today for long-term:
| Company Stock | Market Cap (crore) | Dividend Yield (%) | Sales Growth (CAGR) | Profit Growth (CAGR) |
| HDFC Bank | ₹11,69,000 | 1.23 | 18.7% | 19.9% |
| Hindustan Unilever | ₹6,04,408 | 1.5 | 9.8% | 12.4% |
| Infosys | ₹6,79,000 | 2.16 | 10.5% | 8.9% |
| Reliance Industries | ₹18,40,000 | 0.3 | 12.3% | 10.2% |
| TCS | ₹13,97,000 | 1.32 | 8.7% | 9.5% |
| IndusInd Bank | ₹1,29,000 | 0.85 | 21.2% | 23.7% |
| Deepak Nitrite | ₹31,805 | 0.3 | 24.9% | 55.6% |
| Eicher Motors | ₹1,03,851 | 0.98 | 8.1% | 9.6% |
| ICICI Bank | ₹6,87,000 | 0.8 | 15.9% | 13.5% |
| Asian Paints | ₹3,11,000 | 0.8 | 9.1% | 14.2% |
1. HDFC Bank
- Market cap: ₹11,69,000 crore
- Dividend yield: 1.23%
- Sales Growth: 18.7% (CAGR)
- Profit Growth: 19.9% (CAGR)
With a strong foothold in the retail banking sector, HDFC has a proven track record of delivering exceptional financial performance and high profitability.
The company has a diversified loan portfolio, a low non-performing asset ratio, and a robust brand value. So, if you are looking for a stable and growing dividend income and capital appreciation, HDFC Bank is a solid choice.
2. Hindustan Unilever
- Market cap: ₹6,04,408 crore
- Dividend yield: 1.5%
- Sales growth: 9.8% (CAGR)
- Profit growth: 12.4% (CAGR)
Are you seeking a resilient stock offering steady growth and dividends? Look no further than Hindustan Unilever! This company boasts strong corporate governance, a high return on capital employed, and a consistent dividend payout policy.
With a strong brand portfolio, a loyal consumer base, and a robust innovation pipeline, Unilever is a good bet.
3. Infosys
- Market cap: ₹6,79,000 crore
- Dividend yield: 2.16%
- Sales growth: 10.5% (CAGR)
- Profit growth: 8.9% (CAGR)
If you want to invest in a company with a global footprint and a focus on innovation and research, then Infosys is the way to go! Infosys also has a healthy balance sheet, high cash flow generation, and a generous dividend payout policy.
Plus, the company is well-positioned to benefit from the increasing demand for IT services and digital solutions.
4. Reliance Industries
- Market cap: ₹18,40,000 crore
- Dividend yield: 0.3%
- Sales growth: 12.3% (CAGR)
- Profit growth: 10.2% (CAGR)
Reliance is India’s largest conglomerate with diverse oil and gas, telecom, retail, digital, and media avenues. Its strong financial position and consistent dividends make it perfect for long-term investors.
So, if you want to benefit from diversification and digitalisation trends, choose this best long-term stock.
5. TCS
- Market cap: ₹13,97,000 crore
- Dividend yield: 1.32%
- Sales growth: 8.7% (CAGR)
- Profit growth: 9.5% (CAGR)
As India’s largest and most profitable IT services company, TCS boasts a global presence and a diversified service portfolio. With a loyal client base and a strong balance sheet, it is the best share to buy for the long term.
Plus, with its generous dividend payout policy, you can rest assured that your investment is in good hands.
6. IndusInd Bank
- Market cap: ₹1,29,000 crore
- Dividend yield: 0.85%
- Sales growth: 21.2% (CAGR)
- Profit growth: 23.7% (CAGR)
Looking for a rapidly expanding private-sector bank in India? IndusInd Bank is a name you can trust. With a sound financial position and consistent dividend payments, they cater to underbanked population segments. A value-oriented and growth-focused stock worth considering!
7. Deepak Nitrite
- Market cap: ₹31,805 crore
- Dividend yield: 0.3%
- Sales growth: 24.9% (CAGR)
- Profit growth: 55.6% (CAGR)
The company offers a killer combination of high revenue, low debt, and impressive free cash flow. It is one of the good stocks to buy for the long term.
So, if you are a long-term investor looking for value and diversification-oriented shares, Deepak Nitrite can boost your wealth creation.
8. Eicher Motors
- Market cap: ₹1,03,851 crore
- Dividend yield: 0.98%
- Sales growth: 8.1% (CAGR)
- Profit growth: 9.6% (CAGR)
Eicher Motors is the flagship company of the Eicher Group, with an incredible track record of delivering solid revenue and profit growth. It focuses on brand building, product innovation, network expansion, and customer loyalty!
Moreover, the company has a high operating margin, return on equity, and free cash flow – making it one of the best stocks to buy for the long term.
9. ICICI Bank
- Market cap: ₹6,87,000 crore
- Dividend yield: 0.8%
- Sales growth: 15.9% (CAGR)
- Profit growth: 13.5% (CAGR)
ICICI shares are good stocks to buy for long-term investors who want to benefit from the growth potential of the Indian banking sector.
The bank has a diversified portfolio, a low non-performing asset ratio, and a high return on equity. ICICI shares are trading at a reasonable valuation based on their PE, PEG, and EV/EBITDA ratios.
10. Asian Paints
- Market cap: ₹3,11,000 crore
- Dividend yield: 0.8%
- Sales growth: 9.1% (CAGR)
- Profit growth: 14.2% (CAGR)
As India’s most prominent paint company, Asian Paints has a dominant market share and an extensive distribution network. It could be an excellent choice if you want to put your money in a defensive stock with tremendous value!
Factors to Consider
Now you know the 10 best shares to buy today for the long term, but how do you assess which are right for you? Here are some crucial factors to remember:
- Look at the company’s financial health, profitability, and competitive positioning.
- You will also want to analyse industry growth prospects, considering market dynamics, competition, and technological shifts.
- Reckon the leadership and management team’s track record and vision for the future.
- Consider macroeconomic factors like interest rates and inflation that may impact a stock’s performance.
Summing Up
Investing in the stock market can be a lucrative approach that pays off in the long run. You can make informed decisions by selecting top-performing companies and considering key metrics.
Remember to research well and make smart decisions, and you’ll be able to maximise benefits from your investments.
FAQs
2. Are these shares suitable for conservative investors?
No, not all shares are created equal! Some are perfect for traditional investors due to their stability and consistent performance. Speak to a financial advisor to align your investments with your goals and risk tolerance.
2. How should I allocate funds among these 10 best long-term stocks?
The best strategy is to diversify your investment across multiple sectors and companies. Consider your risk appetite, investment goals, and stock performance before parking your funds.
3. How often should I review my long-term investment portfolio?
You must check your portfolio quarterly or semi-annually. It allows you to assess the performance of your assets and make any necessary adjustments.
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