Top Tata Stocks To Invest For The Long Term In 2024
Introduction:
Investing in stocks can be a daunting task, especially for rookie investors who have just started their investment journey. Among more than 5,000 companies listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE), selecting stocks that can provide high returns can be a challenging thing.
In such a situation, what you can do is invest in the stocks of prominent companies that offer stability and high growth potential. Tata Group, one of India’s largest conglomerates, offers a range of stocks that are known for their stability, growth potential, and strong fundamentals. Tata stocks have always been in high demand among investors seeking long-term capital growth.
In this blog, you will explore the five best Tata stocks you can consider for long-term investing in 2024. Keep reading.
Best Tata stocks for long-term investing
Tata Group has several listed companies, including Tata Steel, Tata Motors, Tata Power, Tata Consultancy Services (TCS), Tata Chemicals, and more. Investing in the stocks of these companies can fetch excellent returns in the medium to long-term investment horizon. Here’s more about the best Tata stocks:
1. Tata Steel
As one of the leading steel producers globally, Tata Steel has a strong presence across various geographies, including India, Europe, and Southeast Asia. Despite challenges in the global steel industry, Tata Steel has demonstrated resilience through its cost optimisation efforts, strategic acquisitions, and focus on value-added products. With the expected revival in infrastructure spending and steel demand, Tata Steel remains a promising bet for investors.
As of 5 April 2024, Tata Steel shares were trading for Rs. 163.25 per share at the NSE and Rs. 163.35 per share at the BSE. The one-year return of the stock stood at 56.85%.
2. Tata Power Company
Tata Power is a leading integrated power company with a presence across the entire power value chain, including generation, transmission, distribution, and renewable energy. With the increasing emphasis on renewable energy sources and sustainability, Tata Power’s renewable energy portfolio, including wind and solar, presents significant growth opportunities. The company’s focus on expanding its distribution network and enhancing operational efficiency further strengthens its investment case.
As of 5 April 2024, Tata Power shares were trading for Rs. 414.60 per share at the NSE and Rs. 414.50 per share at the BSE. The one-year return stood at 113.71%.
3. Tata Motors
Tata Motors is a prominent Indian multinational company in the automotive manufacturing sector. Being the largest automobile manufacturer in India, the company holds a significant market share in the domestic market. With a renewed focus on electric vehicles, sustainable mobility solutions, and technology-driven innovation, Tata Motors is poised to capture a larger share of the evolving automotive market. As of 5 April 2024, the stocks of Tata Motors were trading for Rs. 1,007.10 per share at the NSE and Rs. 1,007.05 per share at the BSE.
4. Tata Consultancy Services (TCS)
TCS is one of the largest IT services firms globally. With a proven track record of delivering consistent growth and profitability, the stock remains a top pick for investors seeking stability in their portfolios. Its diversified revenue streams, strong client base, and focus on innovation make it an attractive long-term investment option. As of 5 April 2024, TCS shares were available for Rs. 3,979.25 per share at the NSE and Rs. 3,977.55 per share at the BSE.
5. Tata Consumer Products
Formerly known as Tata Global Beverages Limited, Tata Consumer Products has transformed itself into a diversified company with a presence in beverages, food, and homecare segments. With the growing consumer demand for branded and value-added products, the company is well-positioned to capitalise on these trends. Additionally, its strong distribution network and focus on premiumization bode well for its future growth prospects. TCP shares, as of 5 April 2024, were trading for Rs. 1,115.55 and Rs. 1,116.45 per share at the NSE and the BSE respectively.
To conclude
Investing in these Tata stocks can be a prudent decision for investors looking for exposure to diverse sectors with strong growth potential and solid fundamentals. However, it’s essential to conduct thorough research and consult with financial experts before making any investment decisions.
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