Stock market experts advise investors to invest in stocks for the long term rather than the short term. Investing for the long term helps you grow your wealth through the compounding effect.
For investing in stocks for the long term, say 5, 10, or 15+ years, you need to decide which stocks are credible to include in your portfolio. It is essential to do research where money is involved and thus you need to check different factors before you make your decision.
This includes checking the fundamentals of the company like management of the company, profit earned in previous years, future plans, and more. Don’t worry this is not a challenging task.
If you want to invest in stocks for the long term, this article briefs you on the 5 best stocks for the long term.
HDFC Bank was among the first banks in India to get approval from the RBI to set up a private bank in 1994. It has a network of 6499 branches and 18868 ATMs spread over 3226 cities and towns in India. The bank provides commercial and investment banking services in the wholesale segment and transactional and branch banking in the retail segment.
Currently, the HDFC Bank share price is trading near Rs. 1635 as of Dec 2022, which is much better than the 52-week low which was Rs. 1271.60. HDFC bank is one of the best fundamentally strong stocks to invest in India.
Reliance Industries Ltd
Reliance Industries Limited is India based company founded by Dhirubhai Ambani in 1973. It is India’s largest private enterprise which operates in multiple sectors like petrochemical, natural gas, energy, retail, digital services, telecommunication, mass media, textile etc.
Reliance Industries is India‘s largest company by market capitalization’ as well. The Reliance share price is currently trading at Rs. 2610 as of Dec 2022. This is higher than its 52-week low of Rs. 2180. It can be considered one of the best shares to buy for the long term.
Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services Ltd was founded in 1968 and is currently one of the best tech giants in India at present. TCS provides its tech services in sectors like banking, insurance, financial services, retail and consumer business, manufacturing, communication, life science, media, technology, health care and others.
Currently, TCS share price is trading at Rs. 3250 as on Dec 2022. The 52-week high and low of TCS are Rs. 4043 and Rs. 2926.10, respectively. It is considered to be one of the safest shares to buy in India.
Infosys was founded by Narayan Murthy along with six software engineers in 1981 in Pune, India. It deals in the business of consulting, technology, outsourcing etc. It was the first Indian IT firm to be listed on the Nasdaq.
Currently, Infosys share price is trading at Rs.1509.40 in December 2022. The 52-week high of Infosys is Rs 1953.90 and the low is Rs. 1355.
Hindustan Unilever Ltd
Hindustan Unilever Ltd is a consumer goods company based in India. HUL is a leader in the consumer goods segment.
Moreover, it has an outstanding product development strategy and an efficient distribution network. As of December 2022, HUL share price is trading at Rs. 2659.70.
Investing in the long term is the best way to accumulate wealth over a period of time. This article has provided you with the best 5 stocks you can either hold or buy for the long term. So what are you waiting for? Start share trading online with a long-term strategy and achieve your financial goals.