This article looks at the 10 best Indian stocks to buy according to billionaires. We also discuss the impact of Trump’s tariffs on India’s stock market and GDP growth projections for FY26.
India’s stock market had a rough ride during the second half of FY25, amid uncertainty around US tariffs, weak earnings, and persistent foreign outflows. Analysts expect the volatility to extend into the new financial year, especially after the Trump administration unveiled fresh tariffs on April 2.
READ ALSO: 10 Best European Stocks To Buy According to Billionaires and 20 Stocks Insiders Bought in April After Trump’s Tariff Rollout.
In recent years, millions of Indian investors have piled into stocks, hoping to build wealth by betting on their country’s strong economic growth. Social media has been buzzing with ‘finfluencers’ offering financial advice and trends. Easy-to-open online brokerage accounts and stock funds have also wooed the population, especially youngsters and retirees, into investing.
Several notable billionaires have also made significant investments in Indian stocks, reflecting the market’s growing appeal. As of November 2024, Rajiv Jain’s GQG Partners was the fourth-largest shareholder in Gautam Adani’s firm. Late last year, billionaire Azim Premji’s private equity firm also acquired a 1.6% stake in a leading Indian technology services and consulting company.
Last Monday, many investors were dealt a blow as the stock market lost $170 billion, with two of the country’s most prominent indexes plummeting from fears that Trump’s new tariffs would ignite a global recession. Foreign institutional investors sold shares valued at $1.05 billion during the day, the highest outflow since February 28. The market fell again on Wednesday, as the 27% tariff on Indian exports to the US took effect.
Here is what Nilesh Shah, managing director at Kotak Mahindra Asset Management, was quoted by Reuters as saying about the situation:
“Indian markets are unable to quantify the uncertainty unleashed by the tariff war. The unfolding events will likely keep sellers on an aggressive sell mode and buyers on a reluctant buy mode.”
On April 9, the Reserve Bank of India cut the interest rate by 0.25% and reduced its growth forecast for this year from 6.7% to 6.5%. Sanjay Malhotra, the governor of the central, stated the following in a speech:
“The recent trade tariff-related measures have exacerbated uncertainties, clouding the economic outlook across regions, posing new headwinds for global growth and inflation.”
While multiple brokerage firms expect the tariffs to hurt India’s GDP growth for FY26, government officials in Delhi, who spoke on the condition of anonymity to a media outlet, expect the country to meet the 6.3%-6.8% growth projection if oil prices stay below $70 per barrel. A finance ministry official said they had already made provisions in the budget for duty remission schemes to help exporters.
With that said, let’s now head over to see the best Indian stocks to buy according to billionaires.
A senior executive surrounded by Bloomberg terminals, assessing the Indian securities market.
Methodology
For this article, we scanned Insider Monkey’s Q4 2024 proprietary database of billionaires’ stock holdings and identified Indian stocks from the list. From there, we picked the top 10 stocks with the highest number of billionaires having a stake in them. Where two or more stocks were tied on billionaire sentiment, we used the dollar value of billionaire holdings as a tiebreaker between them.
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 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here).
10 Best Indian Stocks to Buy According to Billionaires
10. Zoomcar Holdings, Inc. (NASDAQ:ZCAR)
Number of Billionaires: 2
Billionaire Holdings: $25,508
Zoomcar Holdings, Inc. (NASDAQ:ZCAR) is a leading online car-sharing marketplace, headquartered in Bengaluru, India. The company’s platform connects hosts with guests, who pick from a selection of cars at affordable rates.
On April 8, the company expanded its product range with the launch of Zoomcar Vouchers, allowing users to prepay for future trips. The announcement is expected to further improve customer retention and encourage repeat user behaviour. Zoomcar Holdings, Inc. (NASDAQ:ZCAR) noted in the press release that repeat user bookings are now exceeding bookings from new users.
On February 14, Zoomcar Holdings, Inc. (NASDAQ:ZCAR) declared financial results for the third quarter of the fiscal year 2024. The company’s contribution profit reached a record high of $1.28 million. This represented 52% of the revenue and was significantly higher from $0.21 million in the prior year’s period. This marked the fifth successive quarter of positive contribution profit.
During the three months ended December 31, 2024, contribution profit increased to $12.39, as compared to $2.40 per booking for the three months ended December 31, 2023. Zoomcar Holdings, Inc. (NASDAQ:ZCAR)’s number of bookings during the quarter also increased 19% year-over-year, amid a 2x increase in the repeat user booking rate.
The company also noted a 28% reduction in its Cost of Revenue from last year. Technology expenses were down 41% from year-over-year, while marketing costs decreased 80% compared to the same period in 2023. This helped Zoomcar Holdings, Inc. (NASDAQ:ZCAR) to significantly lower its adjusted EBITDA loss from $10.17 million in Q3 2023 to $3.15 million for the recent quarter.
Zoomcar Holdings, Inc. (NASDAQ:ZCAR) is among the best Indian stocks to buy. According to Insider Monkey’s database, two billionaires held a stake in the company at the end of Q4 2024.
9. Yatra Online, Inc. (NASDAQ:YTRA)
Number of Billionaires: 3
Billionaire Holdings: $844,249
Yatra Online, Inc. (NASDAQ:YTRA) is India’s leading corporate travel services provider with over 1,200 corporate customers and is also one of the country’s leading online travel companies. Its subsidiary, Yatra Online Limited, was recently ranked first in India’s YouGov Brand Mover rankings for December 2024. With 3 billionaires holding a stake in the company, YTRA is one of the best Indian stocks to buy now.
On February 11, the company declared financial results for the three months ended December 31, 2024. Revenue for the quarter surged 111.4% from last year to $27.5 million, driven by significant growth in Yatra Online, Inc. (NASDAQ:YTRA)’s corporate travel business. Adjusted Hotels & Packages margin increased 65.8% from last year, fueled by the expansion of the Meetings, Incentives, Conferences, and Exhibitions (MICE) business.
Yatra Online, Inc. (NASDAQ:YTRA) posted a profit of $0.5 million for the period, which was a significant improvement from a loss of $0.5 million for the three months ended December 31, 2023. Adjusted EBITDA surged 173% from last year to $1.4 million as the company focused on profitable growth and cost optimization.
However, the stock is down by over 50% this year, as revenue fell short of estimates due to challenges in the B2C segment, with adjusted air ticketing margins seeing a 23% decline. On February 12, in response to the results, HC Wainwright & Co. lowered Yatra Online, Inc. (NASDAQ:YTRA)’s price target to $3 from the previous $4 while maintaining a Buy rating.
In September last year, Yatra Online, Inc. (NASDAQ:YTRA) entered into an agreement to acquire Globe All India Services Limited (GAISL) for $15.25 million in cash. Through this acquisition, the company is adding approximately 360 customers and will gain annual gross bookings of around $90 million, which is expected to further solidify YTRA’s strong position in the corporate travel sector.
8. WNS (Holdings) Limited (NYSE:WNS)
Number of Billionaires: 5
Billionaire Holdings: $82,747,726
WNS (Holdings) Limited (NYSE:WNS) is a business process management (BPM) company that specializes in data, voice, analytical, and business transformation services.
In March this year, the company acquired Kipi.ai, a leading provider of data modernization and democratization services with Snowflake at its core. It helps businesses overcome gaps in data and deliver rapid insights at scale. WNS (Holdings) Limited (NYSE:WNS) expects Kipi to contribute 2% to the company’s revenue, less repair payments, in fiscal year 2026.
On April 2, WNS (Holdings) Limited (NYSE:WNS) announced that it had extended its strategic agreement with Delaware North, as part of which the company will continue to enable the transformation of its finance function and unlock efficiency savings. Later in the month, WNS-HealthHelp joined forces with Availity, a major regional real-time health information network, to transform payer-provider collaboration.
WNS (Holdings) Limited (NYSE:WNS)’s share price has surged 36% year-to-date in 2025 as investors were encouraged by these positive developments. Last month, Needham and Barrington Research raised their price targets for the stock while maintaining their Buy and Outperform ratings, respectively.
WNS (Holdings) Limited (NYSE:WNS) is one of the best Indian stocks to buy. According to Insider Monkey’s database for Q4 2024, 5 billionaires held a stake in the company, with combined holdings of approximately $82.7 million.
7. ReNew Energy Global Plc (NASDAQ:RNW)
Number of Billionaires: 6
Billionaire Holdings: $40,074,049
ReNew Energy Global Plc (NASDAQ:RNW) generates power through renewable and non-conventional energy resources. It also provides end-to-end solutions in clean energy, carbon markets, digitalization, and storage.
In January, the company announced securing the highest score for a pure-play renewable energy company in India’s power sector in S&P Global’s Corporate Sustainability Assessment. ReNew Energy Global Plc (NASDAQ:RNW) scored 71 out of 100, registering a 30% leap from its FY 2023 score, driven by a remarkable improvement in its ESG performance.
On February 18, ReNew Energy Global Plc (NASDAQ:RNW) announced unaudited consolidated results for the third quarter of the fiscal year 2025 and the nine months that ended December 31, 2024. The company’s portfolio comprised 17.4 GWs, improving from 13.8 GWs a year ago. Commissioned capacity increased by 25.5% from last year.
ReNew Energy Global Plc (NASDAQ:RNW)’s total revenue for Q3 was reported at $248 million, up 10% year-over-year. The net loss stood at $45 million, worsening from $38 million for Q3 2024. For the nine months, revenue was logged at $887 million, compared to $846 million during the same period last year. The net profit for the nine months was $17 million, down from $41 million for the first nine months of FY 2024.
In December last year, ReNew Energy Global Plc (NASDAQ:RNW) announced the sale of its subsidiary, ReNew Sun Waves Private Limited, for $176 million. This is a strategic move aimed at optimising the company’s portfolio and improving its financial health.
According to Insider Monkey’s database for Q4 2024, 6 billionaires held a stake in ReNew Energy Global Plc (NASDAQ:RNW), making it one of the best Indian stocks to buy now.
6. MakeMyTrip Limited (NASDAQ:MMYT)
Number of Billionaires: 7
Billionaire Holdings: $98,924,260
MakeMyTrip Limited (NASDAQ:MMYT) is an online travel company offering various services and products, including air and bus ticket bookings, holiday packages, hotel bookings, foreign currency exchange, and visa processing services. The company operates through three segments: Air Ticketing, Hotels and Packages, and Bus Ticketing.
The stock has returned 39% over the past 12 months, driven by a surge in gross bookings value, the company’s strong dedication to innovation, and investments in cutting-edge technologies to enhance customer experience. An increase in domestic tourism in India and the government’s investments in travel infrastructure bode well for MakeMyTrip Limited (NASDAQ:MMYT)’s further growth ahead.
India’s GDP is forecast to grow at 6.7% for the next two fiscal years. The government has undertaken significant investments to improve roads, airports, and railways to make travel more convenient and reliable. Furthermore, with rising incomes, an increasing number of Indians are also beginning to explore international destinations, besides domestic tourism.
According to Insider Monkey’s database for Q4 2024, 28 hedge funds held a stake in the company, an improvement from 22 at the end of the third quarter. Marshall Wace LLP was the largest investor in MakeMyTrip Limited (NASDAQ:MMYT), with holdings valued at approximately $107 million. According to reports, APG Asset Management N.V. recently acquired a new position in MMYT, buying shares worth $28.2 million during the fourth quarter.
Moreover, 7 billionaires held a stake in MakeMyTrip Limited (NASDAQ:MMYT), with combined holdings of nearly $99 million, making it one of the best Indian stocks to buy now.
5. Wipro Limited (NYSE:WIT)
Number of Billionaires: 8
Billionaire Holdings: $52,843,466
Wipro Limited (NYSE:WIT) is a leading technology services and consulting company that specializes in building solutions tailored for complex digital transformation needs. It is one of the best Indian stocks to buy.
In January this year, the company received a five-year contract from Etihad Airways for comprehensive technology modernization. Under the agreement, Wipro Limited (NYSE:WIT) will ensure the migration of legacy systems and enhance operational efficiencies of the UAE’s national airline. It will also integrate GenAI modules across Etihad’s IT framework.
Last month, Wipro Limited (NYSE:WIT) clinched a $650 million deal with Phoenix Group, where it will work on life and pension business administration for the UK insurance giant. This was the company’s second mega deal during the financial year, following a $500 million agreement with a US communications service provider in June 2024.
Wipro Limited (NYSE:WIT) has also been launching AI-driven solutions to improve operations in different industries. On March 5, the company launched TelcoAI360, which will transform operations for telecom providers by leveraging artificial intelligence. Using the platform, they will be able to roll out new technologies at scale and speed and enhance customer experience. It will also help them reduce operational costs.
Later in the month, Wipro Limited (NYSE:WIT) introduced AI-driven autonomous agents for Agentforce, which will elevate efficiency in the healthcare industry by easing administrative burdens and revolutionizing the experiences for companies, patients, payers, and providers.
4. Dr. Reddy’s Laboratories Limited (NYSE:RDY)
Number of Billionaires: 8
Billionaire Holdings: $279,239,959
Dr. Reddy’s Laboratories Limited (NYSE:RDY) is a pharmaceutical company, with its products and services spread across active pharmaceutical ingredients (APIs), over-the-counter (OTC) medicines, biosimilars, generics, and branded generics. The company is actively involved in areas of cardiovascular, diabetology, dermatology, gastrointestinal, oncology, and pain management.
On March 26, Bio-Thera Solutions and Dr. Reddy’s Laboratories Limited (NYSE:RDY) reached commercialization and license agreements for BAT2506, a proposed Simponi Biosimilar, and BAT2206, a proposed Stelara Biosimilar. Under the agreement, Bio-Thera Solutions will be responsible for manufacturing and supply, while Dr. Reddy’s will seek regulatory approvals and work on commercialization in Southeast Asia.
Dr. Reddy’s Laboratories Limited (NYSE:RDY) and Alvotech also recently announced that the FDA had accepted the biological license application submission for AVT03, a proposed biosimilar of Prolia and Xgeva. The acceptance marks an important milestone in bringing this medication to more patients in the US.
Dr. Reddy’s Laboratories Limited (NYSE:RDY) reported impressive results for the third quarter of fiscal 2025, with consolidated revenues of $977 million, up 16% year-over-year and 4% sequentially. The gross profit margin increased 19 basis points from last year to approximately 59%. The profit after tax was $165 million, growing 2% compared to Q3 2024.
According to Insider Monkey’s database for Q4 2024, 8 billionaires held a stake in the company, with combined holdings of over $279 million, making it one of the best Indian stocks to buy.
3. ICICI Bank Limited (NYSE:IBN)
Number of Billionaires: 8
Billionaire Holdings: $2,455,097,770
ICICI Bank Limited (NYSE:IBN) is a leading financial services company, offering a range of services to corporate and retail customers. The bank has a vast nationwide network of 5,900 branches and 16,650 ATMs across India.
The company reported strong results for the quarter that ended December 31, 2024, with profit after tax growing 14.8% year-over-year to $1.4 billion. ICICI Bank Limited (NYSE:IBN)’s total period-end deposits were also up by 14.1% from last year to $177.6 billion. Average deposits were 13.7% higher than the comparable period in 2023.
Including profits for the nine months, ICICI Bank Limited (NYSE:IBN)’s CET-1 ratio stood at 15.93%, while the bank’s capital adequacy ratio was 16.60%. The results have bolstered investor sentiment, which is reflected in the YTD returns of 4% in the stock, while most Indian companies have struggled this year. Shares were up by 3.47% over the past week in anticipation of the company’s upcoming board meeting on April 19 to approve financial results for the quarter ending March 31.
According to Insider Monkey’s database for Q4 2024, 8 billionaires held a stake in ICICI Bank Limited (NYSE:IBN), with combined holdings of over $2.45 billion. It is one of the best Indian stocks to buy.
2. Infosys Limited (NYSE:INFY)
Number of Billionaires: 10
Billionaire Holdings: $875,164,416
Infosys Limited (NYSE:INFY) provides digital services and consulting to clients in more than 50 countries, enabling them to navigate their digital transformation through cloud and artificial intelligence. With 10 billionaires holding a stake in the company, it is one of the best Indian stocks to buy.
The company recently extended its 10-year-long strategic partnership with AIB by taking on a renewed and enhanced role to support the financial services group as it accelerates its transformation initiatives. Under the collaboration, Infosys Limited (NYSE:INFY) will deliver application development and maintenance services, which will help in enhancing AIB’s operational efficiency.
Earlier this month, Infosys Limited (NYSE:INFY) and Formula E announced the launch of an AI-powered stats center to boost fan engagement. The stats center will leverage Infosys Topaz, which uses GenAI technologies, to deliver data-driven insights and interactive and immersive experiences.
On March 31, Infosys Limited (NYSE:INFY) and Linux Foundation announced a collaboration to advance responsible artificial intelligence principles across global networks. The partnership is a testament to the company’s commitment to fostering responsible use of AI on a global scale.
According to Insider Monkey’s database for Q4 2024, 27 hedge funds held a stake in the company, up from 26 at the end of the third quarter. Moreover, 10 billionaires have investments in Infosys Limited (NYSE:INFY), with combined holdings of over $875 million.
1. HDFC Bank Limited (NYSE:HDB)
Number of Billionaires: 14
Billionaire Holdings: $1,156,462,828
HDFC Bank Limited (NYSE:HDB) provides banking and financial services to individuals and companies in India, Bahrain, Dubai, Hong Kong, and Singapore. The company’s offerings include retail banking, wholesale banking, asset management, insurance, stockbroking, treasury operations, and other financial services.
On January 21, HDFC Bank Limited (NYSE:HDB) declared financial results for the quarter that ended December 31, 2024. Net consolidated revenue was posted at ₹652.8 billion, with consolidated profit after tax of ₹176.6 billion. Earnings per share for the quarter were logged at ₹23.1. The bank’s average deposits grew 15.9% year-over-year to reach ₹24,528 billion at the end of the quarter.
In March, HDFC Bank Limited (NYSE:HDB) signed an MoU with India’s Air Force and the CSC Academy to launch Project HAKK, a program to support defense veterans and their families. The bank will initially set up 25 centers across Air Force units to provide financial training, pension assistance, and banking services.
HDFC Bank Limited (NYSE:HDB) is one of the best Indian stocks to buy, with returns of over 5% so far in 2025. Shares were up by 3.96% over the past week in the run-up to the board meeting on April 19 to approve financial results for the quarter that ended March 31.
Overall, HDFC Bank Limited (NYSE:HDB) ranks first among the 10 Best Indian Stocks to Buy According to Billionaires. While we acknowledge the potential of HDB, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than HDB but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
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