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Best Blue Chip Stocks In India 2023

01 Dec 2023

The best blue chip stocks are for those investors who wish to play it safe. You must have come across the term “blue chip” as it relates to stocks. Furthermore, playing it safe doesn’t mean that investing in stocks is without risk. However, blue chip companies whose stock you invest in typically have solid backgrounds and stability. These company stocks tend to generate good returns when they are held for long periods. 

Features and Benefits of the Best Blue Chip Stocks

Blue chip stocks never cease to be crowd pullers simply because of the strong branding and financial strength they possess. Before you get into the actual stocks to buy in 2023, it is worth knowing the features of these stocks:

  • Blue chip stocks refer to stocks of established, large companies. These businesses have a significant market share, a huge financial bandwidth and a firm track record, performance-wise. Massive revenue, consistent performance and profitability of the stock value are just some hallmarks of blue chip companies.
  • When you buy blue chips, there are lower chances of drops in stock prices. Blue chip companies come with a brand value and a history which allow them to raise capital quickly and easily compared to smaller companies. This makes life easy for blue chip companies to tide over any global, domestic, or internal crises.  
  • Investors who purchase blue chip stocks buy stock of large market capitalisation firms. This brings with it some level of prestige and power for large investors. 
  • Large investors are serious investors who look for long-term investments. Such investors bank on portfolio diversification in the best possible way and blue chip stocks offer the ideal solution. A greater level of stability in the prices of stocks permits investors to bring an anchor to their portfolio. In this way, the remainder of any investor’s corpus may be allocated to riskier investments like small capitalisation stocks. 

The Best Blue Chip Stocks in 2023

You can see the top blue chip stocks to invest in at a glance in the table below: 
 

Company Name

Price Changes - Last 3 Yrs

Market Capitalisation

Adani Enterprises

+1734.20%

Rs. 4,36, 284 Cr

Infosys Ltd.

+100.11%

Rs. 6,27,093 Cr

State Bank of India

+83.46%

Rs. 5,40,118 Cr

Asian Paints

+74.40%

Rs. 2,89,268 Cr

Reliance Industries

+67.32%

Rs. 16,54,891 Cr

ICICI Bank

+65.56%

Rs. 6,27,254 Cr

TCS

+50.57%

Rs. 12,12848 Cr

ITC

+39.58%

Rs. 4,05,883 Cr

Hindustan Unilever

+33.22%

Rs. 5,95,880 Cr

HDFC Bank

+27.26%

Rs. 8,97,885 Cr


Details of Blue Chip Stocks

The best blue chip stocks arise from companies that are already established in their sectors and industries. These are names you must have heard about, but you should delve into the details of the companies whose stock you wish to buy and not just rely on hearsay. Here are details of some key blue-chip stocks on the list: 

  • Adani Enterprises

A holding company with in-roads in trading and coal mining, gas and oil exploration, infrastructure, gas distribution, airports, data centres, power (both photovoltaic and solar), gas distribution and other areas. In FY22, the conglomerate witnessed a massive profit of Rs. 777 Cr. With expansion and growth plans, this is a stock that will potentially do well. 

  • Infosys

Who hasn’t heard of Infosys? With a reputation that is globally recognised, Infosys as a group represents many sectors including financial services, health, IT, utilities, energy, manufacturing and more. In FY22, the company had high profits at Rs. 22,110 Cr. The company has a global reach and is on the way to expansion. 

  • State Bank of India

You can find some of the best blue chip stocks in 2023 in the banking and finance sector, and the stalwart banker SBI is one of them. With an increase in profit of nearly 88% over the previous year, SBI recorded a profit of Rs. 35,374 Cr in FY22. A stable stock as almost 57% of its shareholding is with the Indian government, this is a banking stock to rely on. 

  • Asian Paints

Recording an unprecedented Rs. 3,031 Cr in FY22, this is a company with expertise in decor, paints, coating, sanitaryware and other household goods. 

  • Reliance Industries

Reliance Industries needs no introduction. Its name speaks for itself and its robust background. From sub-industries spanning from chemicals to oil, Reliance Industries also has a healthy and growing presence in the areas of textiles, science and research, digital services, telecom and financial services. It is not surprising that it recorded a Rs. 60,705 Cr profit in FY22. The company is also famous for its generous dividend yield. 

Sound Investment

You cannot go wrong with a few blue chip company stocks up your sleeve. While investing, consider blue chip stocks from different industry sectors to balance your portfolio and mitigate risks. Certain blue chip companies may show stagnant growth, yet offer high dividends to shareholders. Others may witness losses for long periods before they generate innovations and yield profits. While choosing blue chip stocks, see that companies are experiencing a fair bit of continuous growth. Select blue chip stocks that trade at fair market values. 

 

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