Top Long-Term Stocks to Buy In 2023
It’s already been a while since we’re in 2023. Does the stock market still continue to surprise us with its volatility? Yes, it certainly does. With inflation and interest rate hikes that act like significant contributors to the stock market movement, there could be fluctuations. However, long-term investors often neglect short-term stock market volatility as they eye long-term gains. And in the long run, stock markets have always recovered the severest of falls. Therefore, if you are a long-term investor, then all you have to do is invest and relax.
What are some of the top long-term stocks to buy in 2023? Let’s find out!
Top long-term stocks for 2023
For long-term investment, investors usually prefer NIFTY’s top 50 companies. Here are some of the best long-term stocks you can include in your portfolio in 2023:
- Reliance Industries Limited: Reliance Industries Limited (RIL) is one of India’s best companies and has also been a reliable stock for a long time now. Lately, the Reliance Group has been expanding into different segments and this in itself is a strong indicator of growth. The Reliance Group operates in various sectors like chemicals, oil and gas, retail, telecom, financial and digital services, among many others. The stock has been performing well for a while and is expected to continue doing so. As of 08th May 2023, the 52-week high of Reliance was INR 2817.35 and the 52-week low was INR 2180.00.
- Tata Consultancy Services (TCS): Engaged in IT and digital services, Tata Consultancy Services or TCS is an Indian company that comes under the umbrella of the Tata Group. The company works in various segments including banking and insurance, financial services, etc. TCS operates in over 46 countries worldwide, therefore, making it one of the best long-term bets and a stable stock. A of 08th May 2023, the 52-week high of TCS was INR 3575.00 and the 52-week low was INR 2868.01.
- Infosys Limited: Known as one of the best companies in India, Infosys is an Indian multinational information technology company engaged in the business of consultancy, technology, outsourcing, and digital services. The company also has a foot in other segments like healthcare, life sciences, utilities, media, energy, and more. The company is headquartered in Bangalore and is a good bet for long-term investment. As of 08th May 2023, the 52-week high of Infosys was INR 1672.60. and 52-week low was INR 1185.30.
- HDFC Bank: HDFC Bank is a private-sector Indian bank, engaged in a range of financial products and banking services. It is one of India’s leading banks, therefore, making it worthy of a long-term investment. As of 08th May 2023, the 52-week high of HDFC Bank was INR 1734.45 and the 52-week low was INR 1271.60.
- Hindustan Unilever Limited (HUL): If you’re wondering which stock to buy in 2023, you can bet on Hindustan Unilever Limited. Commonly known as HUL, it is an Indian consumer goods company, headquartered in Mumbai. It caters to the everyday needs of consumers through a range of products like beauty and oral care, food and beverage, scorers, detergents, water purifiers, salon services, exports of baby care products, etc. As of 08th May 2023, the 52-week high of Hindustan Unilever Limited was INR 2741.60 and the 52-week low was INR 2100.00
Points to keep in mind while making long-term investments
If you are willing to invest for the long term in the stock market, then here are a few things that you should keep in mind:
- Track Your Portfolio: As you invest for the long term, there will be fewer buy and sell decisions. Investors often invest and then don’t consider selling their investments for about 4-5 years. However, it is important that while you do not transact, you watch your portfolio to know the performance of those stocks.
- Know Market Capitalization: It is essential to know whether the company is stable enough to bet for the long term. You can know the same by looking at their market capitalization. In the long term, investing in companies with a market capitalization of INR 10,000 crores or more would be wiser. These usually comprise mid and large-cap companies.
- Check the Company’s Profitability: Another essential indicator is profitability. Check the profits for the previous three years and their growth rate. If the company’s profits grew at a rate of 10% or higher, it’s a green signal for you.
Conclusion
Long-term investing helps the investor stay calm during short-term volatility and reduces the efforts to make constant buy and sell decisions. If you want to invest for the long term, you need to conduct fundamental and technical analysis, invest, and have patience. Most of the above stocks are in the NIFTY top 50 companies list. Further, apart from stocks, you can also go for mutual funds for long-term investment. You can either invest in an existing mutual fund or New Fund Offer to invest. Either way, you should ensure that you meet your financial goals.If you need help with finances, you can always take the help of experts such as Piramal Finance to help you find the best solutions to finance your purchase, such as long-term investments, stocks, personal loans, or credit cards. Visit our website to know more.