Best Stocks To Invest Right Now– Top 5 Indian Stocks To Buy

Investing in stocks is one of the best ways to earn a passive income. Due to the recent surge in inflation, the value of fiat savings in bank accounts is declining at a rapid pace. Under these circumstances, it is pretty logical to have at least some exposure to the stocks to offset the effects of increasing inflation. If you are looking for the best stocks to invest right now, you are at the right place.

After a major pullback at the start of 2023, the Indian stock market has rebounded very strongly. The stability in the Indian Rupee and a sharp increase in FDI have sent the benchmark indices (NIFT 50 and BSE Sensex) to new all-time highs. In this article, we are presenting the 5 best investment stocks of 2023.

Best Stocks To Buy In 2023

The investment goals vary for everyone. The major difference lies in the timeframe of an investment. While some people want to invest in stocks for quick profits, others treat their portfolio as a long-term retirement fund. History shows that the latter type harvests the most profits. Considering this, we have prepared a list of the top 5 Indian stocks which are expected to generate good returns in the mid-term.

Here are our top picks.

Equitas Small Finance Bank Ltd. (NSE: EQUITASBNK)

Equitas Small Finance Bank has been growing rapidly in recent years. In Q1 FY24, the bank reported a 91% increase in net profit. Equitas Small Finance Bank also has a good asset quality. The bank's gross non-performing assets (NPAs) ratio stood at 2.9% as of March 2023, which is lower than the industry average of 3.4%.

Equitas Small Finance Bank shares are currently trading at a valuation which is considered to be attractive by many analysts. These explain why Equitas shares are one of the top 5 best stocks to invest in this month.

Tata Motors Ltd. (BSE: TATA Motors)

KRChoksey has given a bullish rating to Tata Motors Ltd. for several reasons. The automaker reported strong sales growth in recent months. The SUV segment is the fastest-growing segment in the Indian automotive market. Tata Motors share price is trading at Rs 622.65 and has a potential upside of 19.33%.

Tata Motors has a strong portfolio of SUVs, and the company is well-positioned to benefit from the growth of this segment. In Q1 FY24, the company recorded a growth of 8% in the sales of passenger vehicles. These stats makes it one of the best shares to invest right now.

The Anup Engineering Ltd. (BSE: ANUP)

Anup Engineering has been consistently profitable in recent years, with net profits growing at a compound annual growth rate (CAGR) of 15% over the past five years. It is no surprise that the ICICI Direct is bullish on Anup Engineering shares as the company has a strong balance sheet with low debt and high cash reserves.

This gives the company a good financial cushion to weather any economic downturns and makes it one of the best stocks to buy today in India for the long-term.

Heritage Foods Ltd. (NSE: HERITGFOOD)

Heritage Foods has reported strong financial performance in the past few months. The company's revenue grew by 12.5% YoY in Q1FY24, and its EBITDA margin expanded by 144 bps. The company's VAP segment has been growing rapidly in recent months. In Q1FY24, VAP revenue grew by 13.5% YoY, and its contribution to overall dairy revenue reached 38.7%. According to ICICI Securities, Heritage Foods share price has a potential 17.22% upside.

Rossari Biotech Ltd. (BSE: ROSSARI)

KRChoksey maintains a bullish rating on the Rossari Biotech share price. The company’s revenue is rising steadily. In Q1FY24, the innovative company’s EBITDA came at 57.7 cores. The EBITDA margin was 14.1%, as against 13.3%. Furthermore, the revenue from operations during the first quarter of FY24 stood at 258.3 crores.