In this article, we will discuss the 10 Best Indian Stocks for Next 10 Years.
India’s strong growth trajectory remains a compelling narrative on the back of remarkable advancements throughout sectors, placing the nation as a formidable player in the global arena. With a youthful population, an ever-expanding digital economy, and a strong and reliable manufacturing base, India continues to reap the benefits of its demographic dividend and embrace innovation to drive sustainable economic development. In the fiscal year 2023-24, foreign portfolio investments came in at INR 3,39,066 crore, with INR 1,71,248 crore seen so far in 2024-25 (as per the release dated September 27 by Press Information Bureau, Government of India). This healthy influx of capital demonstrates the country’s resilience and the attractiveness of its financial landscape.
India’s digital economy has been tagged as one of the fastest-growing in the world, strongly helping the nation’s technological landscape. The government’s Digital India initiative played a critical role in the transformation. The initiatives have increased internet penetration and boosted the broader digital infrastructure throughout the country.
Jamie Dimon’s Views on Indian Economy
As per Jamie Dimon, India remains well-placed to become a $7 trillion economy by 2030 as a result of the digital and physical infrastructure, which continues to attract multinational companies under the governance of Prime Minister Narendra Modi. Jamie Dimon recalled visiting India in 2005 and went on to point out the development the country has witnessed over the years. This development is evident as India continues to attract multinational companies to invest.
Additionally, the Chief Executive lauded the digital and physical infrastructure, which includes the Aadhaar system, GST reforms, easing regulations, etc. Collectively, these are expected to act as growth drivers. Jamie Dimon also highlighted that the growth potential of India remains strongly linked to the country’s liquidity and valuation dynamics. With the world’s fourth-largest stock market, the country saw daily average cash-trading levels increase threefold from the pre-pandemic levels. He also highlighted that India has a demographic edge, which is the main reason for the optimism about India’s long-term growth prospects.
With countries in the West facing challenges related to aging populations and labour shortages, India has a young and dynamic workforce which should become the nation’s most valuable asset. Notably, the next 3 decades hold strong potential for India’s sustained growth and prosperity.
In the recent past, the Chief executive praised India’s boosting financialization of saving, ramping up infrastructure, and allowing more spaces for foreign investment.
India’s Economic Growth Outlook
India has been tagged as one of the fastest-growing economies in the world, with real GDP expected to grow by 6.5% in 2024, as per J.P. Morgan Economics Research. If the International Monetary Fund (IMF) data is to be believed, India is expected to clock a growth rate of 6.1% over the upcoming 5 years. This will make India the world’s third-largest economy by 2027, after the US and China. Indian equity markets touched new all-time highs this year. Apart from the volatility during the general election, the country’s stocks consistently outperformed Emerging Market peers.
Additionally, the large bank highlighted that, since the pandemic-low in March 2020, the blue-chip NSE Nifty 50 saw a whopping increase of more than 200%, with the stock market’s total market cap now standing at ~$5 trillion. This is because investors have become increasingly positive about the nation’s long-term economic growth potential. The traction India’s manufacturing sector is gaining under supply chain diversification, sustainable and pro-industry policies, and improving renewable energy capacity are expected to act as tailwinds. The bank believes that the Indian government has outlined ambitious plans for goods exports to reach $1 trillion annually by 2030, as the country aims to be a top-most alternative for companies that are looking to diversify their supply chains away from China.
A close up shot of a stock ticker reflecting the performance of Indian equity markets.
Our methodology
To list the 10 Best Indian Stocks for Next 10 Years, we did an extensive online search to extract the stocks of Indian companies that trade at the US exchanges. After narrowing down the list, we arranged the stocks in ascending order of their hedge fund sentiments.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 275% since May 2014, beating its benchmark by 150 percentage points (see more details here).
10 Best Indian Stocks for Next 10 Years
10) Sify Technologies Limited (NASDAQ:SIFY)
Number of Hedge Fund Holder: 1
Sify Technologies Limited (NASDAQ:SIFY) provides ICT solutions and services in India and internationally.
Wall Street analysts have tagged Sify Technologies Limited (NASDAQ:SIFY) as a key player in India’s burgeoning digital landscape. It continues to expand its infrastructure and services, with a healthy capital allocation to aid digital transformation initiatives throughout enterprises and government entities. The company continues to focus on maintaining fiscal discipline and investments in network and data center capacity expansion.
Sify Technologies Limited (NASDAQ:SIFY) has been transitioning from project-based to annuity-based revenue in the digital services segment. Moving forward, the company plans to make investments focused on expanding its network and data center capacity. As of now, Sify Technologies Limited (NASDAQ:SIFY)’s strategic investments in infrastructure should continue to capture the growing demand for digital transformation in India.
Market veterans believe that demand for data center services in India is being led by hyperscalers and enterprises, and Sify Technologies Limited (NASDAQ:SIFY) possesses a strong pipeline for data center capacity expansion in various cities. The company remains committed to helping the digital transformation needs of the nation’s enterprises and government entities.
Given its strong foundation of network and data center services, together with a focus on expanding its digital services capabilities, Sify Technologies Limited (NASDAQ:SIFY) remains well-placed to exploit the opportunities.
By the end of Q2 2024, 1 hedge fund included Sify Technologies Limited (NASDAQ:SIFY) in its portfolio, as per Insider Monkey’s database.
9) Yatra Online, Inc. (NASDAQ:YTRA)
Number of Hedge Fund Holder: 4
Yatra Online, Inc. (NASDAQ:YTRA) operates as an online travel company in India and internationally.
Market experts believe that Yatra Online, Inc. (NASDAQ:YTRA)’s corporate travel segment should continue to aid its revenue growth in the near term. Moving forward, the company plans to maintain its focus on strategic initiatives, which include an emphasis on expanding the corporate travel and MICE (Meetings, Incentives, Conferences, and Exhibitions) businesses, streamlining the operations, and looking for potential acquisitions.
Yatra Online, Inc. (NASDAQ:YTRA) has been actively pursuing organic and inorganic growth opportunities, mainly in corporate travel. The company highlighted that a restructuring process, in a bid to simplify the corporate structure, remains underway. This might take ~6 months – 12 months.
While the focus is on tech-enabled and innovation-driven strategies for improvement in market share in the B2C segment, Yatra Online, Inc. (NASDAQ:YTRA) is optimistic regarding the growth potential in both the corporate travel and MICE markets. The company earmarked $20 million from IPO proceeds for expected acquisitions. The company announced that it entered into a definitive agreement for the acquisition of 100% of Globe All India Services Limited. This acquisition should significantly expand Yatra Online, Inc. (NASDAQ:YTRA)’s corporate customer base.
Globe will be bringing 360 corporate travel customers to Yatra Online, Inc. (NASDAQ:YTRA)’s existing portfolio of ~850 customers, reflecting over 40% growth. Apart from increasing the company’s market share, this also offers an opportunity for enhanced operational efficiency. Moreover, the integration of Globe’s services into Yatra Online, Inc. (NASDAQ:YTRA)’s platform is expected to have a positive impact on the latter’s financials.
HC Wainwright reiterated a “Buy” rating on the company’s shares, issuing a price target of $4.00 on 3rd September.
8) Wipro Limited (NYSE:WIT)
Number of Hedge Fund Holder: 11
Wipro Limited (NYSE:WIT) carries out operations as an information technology (IT), consulting, and business process services company worldwide.
Wipro Limited (NYSE:WIT) was able to secure 10 large deals in Q1 2025, with bookings surpassing $1 billion. Also, it maintained a steady outlook for the next quarter. While the company remains focused on strengthening its relationships with renowned clients and strategic partners, it continues to make investments in AI-powered industry solutions and talent development. Wipro Limited (NYSE:WIT) has a strategy in place when it comes to leveraging generative AI (GenAI) to improve productivity.
The company continues to capitalize on growth opportunities across sectors while, at the same time, it is addressing softer segments through strategic investments and partnerships. Amidst the challenging environment, market experts believe that Wipro Limited (NYSE:WIT)’s strategic moves, like offshoring leadership roles and consolidating overseas offices, should aid in counterbalancing the wage growth impact.
Wall Street analysts believe that Wipro Limited (NYSE:WIT)’s successful execution of strategies, mainly in securing large deal wins, should continue to act as a tailwind in the near term. For example, the company recently bagged a 5-year deal worth $500 million from a US-based communication service provider. Moreover, the analysts have expressed optimism regarding the appointment of Srinivas Pallia as the new CEO. They believe that this strategic decision should bring stability and an effective decision-making process.
Over the long term, the company is expected to benefit from switching costs and intangible assets. Also, forays into the higher-value realm of industrial engineering might support Wipro Limited (NYSE:WIT) in achieving healthy growth momentum. According to Insider Monkey, the number of hedge funds holding stakes in Wipro Limited (NYSE:WIT) stood at 11 at the end of Q2 2024.
7) WNS (Holdings) Limited (NYSE:WNS)
Number of Hedge Fund Holder: 13
WNS (Holdings) Limited (NYSE:WNS) is a business process management (BPM) company, which provides data, voice, analytical, and business transformation services worldwide.
Wall Street believes that WNS (Holdings) Limited (NYSE:WNS)’s effective execution and the healthy demand for its digitization and cost reduction services should continue to support it amidst an uncertain macroeconomic environment. In Q1 2025, WNS (Holdings) Limited (NYSE:WNS) saw the signing of 8 new logos and expansion of relationships with 36 clients. Also, the company highlighted that its new business pipeline remains robust.
Market experts continue to appreciate the company’s strong execution track record and its ongoing cadence of new business wins. Also, they believe that WNS (Holdings) Limited (NYSE:WNS)’s business process management solutions and the ability to implement AI capabilities on clients’ behalf should continue to help it in tackling industry-wide challenges. Moving forward, new client additions and the expansion of existing relationships are expected to aid its growth momentum.
WNS (Holdings) Limited (NYSE:WNS) expects that demand for digitally-led business transformation and cost reduction is strong, including larger deals and a strengthening pipeline. The company’s strategic growth initiatives remain underway, and successful execution will place it well entering fiscal 2026. In addition, WNS (Holdings) Limited (NYSE:WNS) continues to make investments in technology-enabled offerings leveraging AI and GenAI.
For FY 2025, the company expects revenue (less repair payments) of between $1,290 million and $1,354 million, reflecting a rise from $1,284.3 million in FY 2024. Needham & Company LLC upped its target price on the shares of WNS (Holdings) Limited (NYSE:WNS) from $60.00 to $70.00, issuing a “Buy” rating on 19th July.
Diamond Hill Capital, an investment management company, released its first-quarter 2024 investor letter. Here is what the fund said:
“Our bottom individual contributors in Q1 included WNS (Holdings) Limited (NYSE:WNS), as well as regional banks Live Oak Bancshares and Bank OZK. Shares of India-based business process management company WNS Holdings declined in the wake of a large client’s decision to part ways with WNS. Though the decision was unrelated to artificial intelligence (AI), the move renewed concerns about how AI will ultimately affect the company. However, we believe WNS’s business process management solutions and its ability to implement AI capabilities on clients’ behalf are more valuable than is currently reflected in the share price, and we continue to believe the outlook from here is favorable.”
6) Dr. Reddy’s Laboratories Limited (NYSE:RDY)
Number of Hedge Fund Holders: 16
Dr. Reddy’s Laboratories Limited (NYSE:RDY) operates as an integrated pharmaceutical company worldwide.
Wall Street remains optimistic about Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s long-term growth trajectory as it invested $620 million in its wholly-owned subsidiary, DRL SA, Switzerland. This investment is for the acquisition of Nicotinell and related brands. This move, which is a related party transaction that has been done at arm’s length, focuses on bolstering its pharmaceutical portfolio and strengthening its market position.
Dr. Reddy’s Laboratories Limited (NYSE:RDY)’s competitive advantage revolves around brand intangibles in select emerging markets. Its strategic partnerships, together with a diverse product pipeline, should continue to aid its revenue growth in the upcoming quarters. Dr. Reddy’s Laboratories Limited (NYSE:RDY) believes that a strong pipeline of complex products and biosimilars should continue to drive earnings growth for the foreseeable future.
The company continues to focus on the branded generics market in India, and experts believe that this market is expected to grow. Dr. Reddy’s Laboratories Limited (NYSE:RDY) focuses on innovation and patent-protected offerings. It is emphasizing on true innovation and launching patent-protected products. Wall Street experts opine that the leading pharmaceutical giant has positioned itself for continued growth, with a strong focus on partnerships, product pipeline diversification, and market expansion.
Analysts at Barclays upped their price target on the shares of Dr. Reddy’s Laboratories Limited (NYSE:RDY) from $81.00 to $87.00, giving an “Overweight” rating on 30th July. As per Insider Monkey’s Q2 2024 data, 16 hedge funds were long Dr. Reddy’s Laboratories Limited (NYSE:RDY).
5) ReNew Energy Global Plc (NASDAQ:RNW)
Number of Hedge Fund Holders: 16
ReNew Energy Global Plc (NASDAQ:RNW) generates power with the help of non-conventional and renewable energy sources in India.
Top management highlighted ReNew Energy Global Plc (NASDAQ:RNW)’s auction wins of more than 8 gigawatts and the conversion of 2.2 gigawatts into Power Purchase Agreements (PPAs). The company is expecting more conversions soon. Its continued focus on disciplined bidding and in-house capabilities aided its competitive position in the Indian renewables market. ReNew Energy Global Plc (NASDAQ:RNW) commissioned 500 megawatts of capacity this year and it continues to progress with other projects.
The company’s in-house EPC, O&M, and digital platforms offer a competitive edge and its module manufacturing capabilities ensure a secure source of modules. ReNew Energy Global Plc (NASDAQ:RNW) remains proactive when it comes to securing transmission connectivity for its capacity. The company is optimistic about its outlook, with disciplined and selective bidding for future growth.
ReNew Energy Global Plc (NASDAQ:RNW) secured transmission connectivity for its commissioned and planned capacity and has excess capacities beyond its current wins. This indicates potential for expansion. With a clear focus on strategic bidding, operational efficiency, and ESG initiatives, ReNew Energy Global Plc (NASDAQ:RNW) remains well-placed to capitalize on the elevated demand for renewable energy in India and beyond.
Wall Street analysts believe that the shares of ReNew Energy Global Plc (NASDAQ:RNW) have an average target price of $8.10. Notably, 16 hedge funds reported owning stakes in ReNew Energy Global Plc (NASDAQ:RNW), as per Insider Monkey’s Q2 2024 database of 912 hedge funds.
4) Infosys Limited (NYSE:INFY)
Number of Hedge Fund Holders: 19
Infosys Limited (NYSE:INFY) offers consulting, technology, outsourcing, and next-generation digital services in North America, Europe, India, and internationally.
Wall Street analysts continue to remain optimistic about Infosys Limited (NYSE:INFY)’s long-term growth trajectory as a result of its ability to secure large deals. In Q1 2025, the company secured 34 large deals, boasting a total contract value of $4.1 billion. It highlighted that Project Maximus has been contributing positively to its margin performance, and generative Al is being implemented throughout service lines. In a recent earnings call, Infosys Limited (NYSE:INFY) mentioned early signs of recovery in the US financial services sector, mainly in mortgages, capital markets, and card payments.
While Infosys Limited (NYSE:INFY) has strong capabilities in digital, cloud, and technology transformation, it continues to see positive traction in banking and certain European markets. The company has maintained its focus on the financial services sector and the implementation of generative Al. Infosys Limited (NYSE:INFY)’s revised guidance demonstrates confidence in the strategy and market position, despite the challenges in the macroeconomic environment.
Given its strong performance in Q1 2025 and the current outlook, it revised its revenue growth guidance for FY 2025 to 3% – 4% growth in constant currency. It expects to post an operating margin of between 20% – 22%. The company’s investments in digital and Al capabilities, together with favourable outcomes from Project Maximus, exhibit a strong growth outlook.
3) MakeMyTrip Limited (NASDAQ:MMYT)
Number of Hedge Fund Holders: 22
MakeMyTrip Limited (NASDAQ:MMYT) is an online travel company, which sells travel products and services in India, the United States, Southeast Asia, Europe, and internationally.
Market experts opine that MakeMyTrip Limited (NASDAQ:MMYT)’s diversified travel offerings and strategic focus on different travel segments should continue to act as critical tailwinds. The relaunch of the MMT Black loyalty program is focused on enhancing customer loyalty. MakeMyTrip Limited (NASDAQ:MMYT) remains optimistic regarding the Indian travel market’s future, considering strong economic growth and a cultural pivot to more vacations.
While the company’s accommodation business and holiday packages business should continue to demonstrate strong growth, its investments in AI, like chatbot and EMI feature for international flights, will further enhance user experience. MakeMyTrip Limited (NASDAQ:MMYT) highlighted that the corporate travel business and UAE operations continue to expand, with higher customer counts and successful marketing campaigns.
MakeMyTrip Limited (NASDAQ:MMYT) focuses on expanding its revenue share from the strong-performing international outbound travel market. In H2 2024, the company expects an improvement in domestic air market supply. In the recent earnings call, MakeMyTrip Limited (NASDAQ:MMYT) mentioned that it retains more than 30% market share in the domestic air travel segment.
Analysts at Citigroup upped their price target on the shares of MakeMyTrip Limited (NASDAQ:MMYT) from $93.00 to $115.00, giving a “Buy” rating on 24th July. Insider Monkey’s Q2 2024 database revealed that 22 hedge funds held stakes in MakeMyTrip Limited (NASDAQ:MMYT).
2) ICICI Bank Limited (NYSE:IBN)
Number of Hedge Fund Holders: 30
ICICI Bank Limited (NYSE:IBN) provides various banking and financial services to retail and corporate customers in India and internationally.
ICICI Bank Limited (NYSE:IBN) continues to focus on strengthening its capital base and enhancing its ability to cater to the financial needs of its customers. ICICI Bank Limited (NYSE:IBN) recently conveyed optimism regarding the Reserve Bank of India’s (RBI) draft project finance guidelines. The bank expects that these will be beneficial over the long term as a result of ICICI Bank Limited (NYSE:IBN)’s cautious underwriting practices and the additional provision cushion.
Moreover, ICICI Bank Limited (NYSE:IBN) implemented stricter underwriting criteria for unsecured loans as it has increased rates and selectively reduced exposure to certain customer groups. The slower growth in deposits should not impact its ability to extend loans. The banking giant continues to project a steady-state net interest margin (NIM) of 4% and expects improved operating efficiency. These measures should improve its return on assets (ROAs). Moreover, ICICI Bank Limited (NYSE:IBN) believes that enhancements in transaction banking services should fuel fee income growth.
Wall Street analysts believe that strong deposit growth and effective management of operating expenses should bolster its profit growth. ICICI Bank Limited (NYSE:IBN)’s prudent financial management should drive healthy earnings growth in fiscal years 2025-2026. Wall Street believes that the bank’s growth trajectory and return on equity (ROE) should sustain its market valuations.
ICICI Bank Limited (NYSE:IBN)’s deployments in technology provide some cushion against opex costs. Also, a stable mix of a high-yielding portfolio (Retail/Business Banking), together with growth in Business Banking, SME, and secured retail segments, should continue to drive broad-based improvement. Analysts believe that shares of ICICI Bank Limited (NYSE:IBN) have an average price target of $34.63.
As per Insider Monkey’s database, ICICI Bank Limited (NYSE:IBN) was in the portfolios of 30 hedge funds at the end of Q2 2024.
1) HDFC Bank Limited (NYSE:HDB)
Number of Hedge Fund Holders: 40
HDFC Bank Limited (NYSE:HDB) provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai.
Wall Street analysts remain optimistic about the growth prospects of HDFC Bank Limited (NYSE:HDB), with the expected stabilization of net interest margin (NIM) in the upcoming quarters. HSBC expects that HDFC Bank Limited (NYSE:HDB) should see a modest increase of 10 bps in NIM over the period from the fiscal year 2025 to 2027. Furthermore, HSBC expects a gradual improvement in the core performance of the bank.
Recently, Bernstein SocGen Group highlighted that HDFC Bank Limited (NYSE:HDB) is reportedly engaging in the sale of portions of its auto and home loans portfolio. This will potentially amount to ~INR 700 billion, which translates to ~3% of its total loan book. This move by HDFC Bank Limited (NYSE:HDB) forms part of its broader strategy of rebalancing its balance sheet. It targets to reduce its Loan to Deposit Ratio (LDR) and lower its proportion of borrowings in its liabilities.
HDFC Bank Limited (NYSE:HDB) saw a faster-than-expected reduction in borrowings. Bernstein SocGen Group stated that, in Q1 2025, HDFC Bank Limited (NYSE:HDB) saw a run-down of ~INR 600 billion in borrowings, outpacing the expected figure of ~INR 250 billion. These measures should help the bank in adjusting its financial structure. These actions demonstrate a proactive approach to managing financial health.
Collectively, the measures are expected to help HDFC Bank Limited (NYSE:HDB) achieve a more stable and efficient balance sheet, stated Bernstein SocGen Group. As per Wall Street, the shares of HDFC Bank Limited (NYSE:HDB) have an average price target of $70.00.
Investment management company Ave Maria recently released its first quarter 2024 investor letter. Here is what the fund said:
“HDFC Bank Limited (NYSE:HDB) is a well-managed bank in India that has a track record of gobbling up market share and creating shareholder value. The bank has a long runway for growth, is overcapitalized, and is a highly skilled underwriter.”
While we acknowledge the potential of HDB as an investment, our conviction lies in the belief that some deeply undervalued AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for a deeply undervalued AI stock that is more promising than HDB but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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