If you are an investor, you want to create wealth by investing in stocks of companies that have a dominant market position. Also, the companies you invest in should have a very competitive management team, have consistent profits over the years, and remain stable even in bear markets. So, here is a list of 10 stocks you can invest in for building wealth. If you are not yet engaged in online investing, the first thing you need to do is open online demat account. Online investing can help you get inflation-beating returns and create long-term wealth. That said, let’s check out the top 10 stocks to invest in for the long term:
Reliance Industries Limited
Reliance Industries Ltd. is one of the biggest Indian conglomerates, involved in retail, petrochemicals, media, and telecom. It is headquartered in Maharashtra. Investing in this company is a good idea as it has excellent management.
State Bank of India
State Bank of India is the largest public sector bank in India. The current market price of a State Bank of India share is around Rs. 500. It is a good long-term bet for investors. This stock can be invested in for a tenure of 10 years. The bank has its head office in Maharashtra.
Infosys, one of the largest global IT companies, is known for its world-class management. The company has given healthy and consistent dividends over the last few decades. The current share price is around Rs. 1,800.
ICICI is an Indian bank with a wide network. The bank’s non-performing assets have been reducing over the past few years. Banks should do well in the next few years, and you can buy ICICI Bank stocks for the long term.
Tata Consultancy Services
Tata Consultancy Services belongs to India’s prestigious TATA group. It is one of the biggest IT companies in India. This bluechip company has created massive wealth for shareholders in the past and will continue to do so in the future.
Larsen & Toubro
Larsen & Toubro is a major Indian conglomerate. It has operations in engineering, construction, manufacturing, financial services, and IT. It is the largest construction company in India and among the top five in the world. Investors can expect very good returns on this stock in the long run.
HDFC Bank is one of the country’s leading banks. It has a strong brand value. Investors looking for stability in their portfolios can invest in this bank.
ITC is a well-known company with operations in diversified sectors. ITC has paid consistent dividends over the years. It can be a great company to invest in for the long term.
Bajaj Finance is an Indian non-banking financial corporation headquartered in Pune, Maharashtra. The company’s CEO is Sanjiv Bajaj, and the company has more than 27,000 employees in the country. Those considering long-term investments can consider this bluechip company for good returns.
Sun Pharma is one of the most dominant pharmaceutical companies in India, with subsidiaries worldwide. It is a 38-year-old company and has more than 30 units in India. Investors looking to diversify into pharma can buy this stock for the long term. At the current market price, it can be a good long-term bet for investors.