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Building wealth on a budget top stocks under Rs 1000 in India

08 Feb 2024

The stock market is a great place to begin your investment journey. You can start investing with minimum capital while learning in the markets at your own pace. India has numerous reputable companies whose stocks are priced below Rs1,000, making them accessible to a broad spectrum of investors. 

These companies often exhibit robust fundamentals, a track record of sustained growth, and the prospect of future value appreciation. In this blog, let us deep dive into some of the top-performing stocks valued under Rs1,000 and look at their financial performance. 

Coal India Ltd 

Coal India Ltd is primarily involved in coal mining and production, along with the operation of coal washeries. Its primary clients hail from the power and steel sectors, while it also serves consumers in diverse industries such as cement, fertilisers, and brick kilns.

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The company has a nearly debt-free status, showcasing financial stability. It also offers an attractive dividend yield of 6.98%. It consistently maintains a healthy dividend payout ratio of 63.7%, adding to its attractiveness as an investment opportunity

Over the past five years, Coal India Ltd has demonstrated a CAGR of 31.9%. The company has earned an ROE of 46.8% over three years. 

State Bank of India

State Bank of India is a Fortune 500 entity and stands as a prominent Indian multinational in the public sector, specialising in banking and financial services. Its headquarters are situated in Mumbai, and it boasts an illustrious history spanning over two centuries, making it the oldest and largest bank in India.

The bank has a substantial market presence, commanding a 22.84% share in deposits and a 19.69% share in advances within India. It has approximately 45 crore customers relying on its services.

SBI has demonstrated impressive profit growth, achieving a 76.1% CAGR over the past five years. It also maintains a dividend payout ratio of 17.3%. 

Nava Bharat Ventures Ltd

Nava Bharat Ventures Ltd, founded in 1972 as an Indian ferro alloys manufacturer, has evolved into a multinational corporation with operations spanning India, South East Asia, and Africa. The company engages in various sectors, including metals manufacturing, power generation, mining, agribusiness, and healthcare.

It possesses ferro alloy facilities located in Paloncha (Telangana) and Kharagprasad (Odisha). It holds a substantial power generation capacity of 434 MW through eight thermal power plants across different Indian states.

One of its notable ventures is its 65% ownership of Maamba Collieries Ltd, Zambia's largest coal mine concessionaire. This collaboration has also led to the development of a 300 MW power plant in Zambia, contributing to 10% of Zambia's total installed power generation capacity.

It has successfully reduced its debt burden. The company has demonstrated impressive profit growth, achieving a 31.0% CAGR over the past five years, reflecting its financial prowess.

Great Eastern Shipping Company Ltd

The Great Eastern Shipping Company Ltd, along with its subsidiary companies, holds a prominent position in the Indian shipping and oil drilling services industry. The shipping business is actively involved in the transportation of various commodities like crude oil, petroleum products, gas, and dry bulk commodities. It also engages in offshore oilfield services. 

It has effectively reduced its debt, indicating sound financial management. The stock offers an attractive dividend yield of 3.12%. Over the last five years, the company has delivered remarkable profit growth, boasting a CAGR of 134%. It maintains a healthy dividend payout ratio of 17.6%. 

CONCOR India Ltd 

Container Corporation Of India Ltd operates inland container transportation by rail. It oversees port management, air cargo complexes, and the development of cold chains.

CONCOR boasts a nearly debt-free status, highlighting its financial stability. The company has consistently maintained a dividend payout ratio of 56.4%, signifying its commitment to providing returns to its shareholders.

These financial attributes affirm CONCOR's strong financial standing and its dedication to delivering value to its investors.

In conclusion, investing in top shares priced below ₹1,000 presents a practical choice, particularly for novice investors or those working within a constrained budget. 

Before investing in stocks, conducting thorough research is important, examining a company's fundamentals, industry prospects, and valuation compared to peers. Assess your risk tolerance and determine your investment horizon, as these stocks can be volatile

Pick companies with financial solid standings, high growth records, and industries with promising futures. Considering these factors, you can make informed decisions aligned with your financial goals and risk comfort.

 

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