Top 10 Stocks to Buy in 2023
The Indian economy is coming up as the fastest growing in the post-COVID era. Experts predict that our GDP will reach $5 trillion by 2026-27. This will make us the world’s third-largest economy. As per those reports, this year will turn out to be great for the Indian stock market.
In this article, you will find out the NIFTY 50 Top 10 stocks. But before that, let’s understand a few basics.
What is a stock exchange?
A stock exchange is a stock or equity trading platform. Companies register their stocks on a particular stock exchange. You can then buy or sell stocks on that stock exchange. You can also exchange other financial instruments like derivatives, bonds, etc.
In India, there are two major stock exchanges NSE and BSE. These stock markets have separate ‘benchmark’ indexes. A benchmark index is a group of the biggest companies on the exchange.
What are the National Stock Exchange (NSE) and NIFTY 50?
Located in Mumbai, the NSE is the leading financial market in India. It started in 1992 and is now the 4th biggest exchange in terms of the trading volume. Currently, there are over 1600 stocks listed on NSE.
Between 1995-1996, NSE launched its benchmark index known as NIFTY 50. It tracks the performance of the 50 largest companies on the NSE. You can buy and sell as a future and options (F&O) derivative product.
What are the Bombay Stock Exchange (BSE) and SENSEX?
The BSE is Asia’s oldest stock exchange which was incorporated in 1875. There are about 5749 companies listed on the BSE. SENSEX is the benchmark index of BSE. It includes the 30 top-performing companies on the BSE. Like NIFTY 50, SENSEX is also a free-float F&O product. The BSE incorporated it in 1986.
Top Gainers in NSE and BSE
The official NSE website shows a list of the Top Gainers in NSE. The Top Gainer Today is a dynamic list that’s updated every day. It shows the stocks which are gaining the most on that day. The BSE official website shows Today’s Top Gainers BSE list.
Other Securities and Exchange Board of India (SEBI) certified platforms also show these lists. This list is useful for intraday trading.
NIFTY 50 Top 10 stocks in 2023
So far in 2023, it is predicted that the current correction of NIFTY around 10% from its all-time highs. It has created a good opportunity for investors to buy stocks for investors to accumulate stocks for the long-term gains. The NIFTY Midcap 100 advanced 0.66% and NIFTY Smallcap 100 advanced 0.66%. The government is making efforts to increase economic recovery after COVID. This bull run in the market might last a few more years. IT stocks may lead the gain index in 2023. Capital goods, real estate, and the automobile industry will also gain. So now, let us look at the projected NIFTY 50 Top 10 stocks in 2023.
- Reliance Industries Ltd. (NSE: RELIANCE, BSE: 500325)
Reliance Industries Ltd. is a Fortune 500 company and the largest private sector corporation in India. It reported a 19% jump in its march quarter net profit to Rs. 19,299 crore, around Rs. 3,000 more than the previous year. The current price is Rs. 2,496.70 per share. It has the potential to gain up to 20% in 2023.
- Tata Consultancy Services Ltd. (NSE: TCS, BSE: 532540)
Tata Consultancy Services or TCS is one of the leading IT services, consulting and business solutions organisations. It has partnered with many of the world’s largest businesses for over 50 years. The current share price is Rs. 3,283.00 per share. Over the half decade, it is reporting a gain of 19% per year.
- HDFC Bank Ltd. (NSE: HDFCBANK, BSE: 500180)
It is the largest private sector bank in India. It showed a 20% compound annual growth rate (CAGR) in the last 5 years. The current price is Rs. 1,648 per share. Because of the high predicted price, it is a great long-term option.
- Infosys (NSE: INFY, BSE: 500209)
In 2023, Infosys has been recognized as one of the world’s most ethical company for the third consecutive year by Ethispehre. As of 10th May 2023, Infosys’ share market price is Rs. 1,263.25 per share.
- ICICI Bank (NSE: ICICIBANK, BSE: 532174)
ICICI is an India-based international bank. It has a presence in 17 countries. For the quarter of March 2023, its profit ended at 30%. The current stock price is Rs. 933.50 per share, and the quarterly profits are around Rs. 8,900 to Rs. 9,000 crore.
- Hindustan Unilever Limited (NSE: HINDUNILVR, BSE: 500696)
The company has claimed a turnover growth of 11% in the FY2023. Furthermore, its current share price is Rs. 2,530.45 per share.
- State Bank of India (NSE: SBIN, BSE: 500112)
SBI is the biggest centralised bank in India. In the first quarter of FY2023 its year-on-year growth rate was 27.1%, and the net interest income was Rs. 39,657. At the present it’s share price rests at 571.35 per share.
- Bharti Airtel (NSE: BHARTIARTL, BSE: 532454)
Airtel is the first company in India to provide a 5G network. Today, it provides this service across many cities in the country. Its Average Revenue per User (ARPU) and 4G user segment growth are also significant. The current price is around Rs 793.25 per share. It has an estimated growth rate of 11%.
- Housing Development Finance Corporation Ltd. (NSE: HDFC, BSE: 500010)
It is one of the leading housing finance companies in India which offers a wide range of home loans for new and resale properties. So far, it has assisted more than 38 lakh customers in owning a home. Its current price is Rs. 2,748.85 per share and the net profit margin is 17.07%.
- Adani Enterprises Ltd. (NSE: ADANIENT, BSE: 512599)
It is an Indian multinational and publicly listed holding company and is a part of Adani Group. In this year, it has gained a net year-on-year profit of Rs. 2,472.94 crore. It’s revenue surged over 97% to Rs. 1.37 crore. Its current price stands at Rs. 1,895.35 per share.
Conclusion
The stock options included in this article are based on industry research. Before investing in stocks, you must have detailed knowledge about the process. Piramal Finance offers you accurate information on banking and financial services. Make sure your financial knowledge is up to date on essential services and products, such as personal loans and stock trades, by reading the informative blogs on their website.