Best Blue Chip Stocks in India in September 2024 – Based on Market Capitalisation

Keywords: blue chip stocks, blue chip stocks list, blue chip stocks list India, list of blue chip stocks in India, top 10 blue chip stocks india

Blue chip stocks are shares in well-established and financially strong companies. These stocks are known for their stability, steady growth, regular dividend payments, and strong brand reputation. Blue chip stocks are less affected by economic changes and are more stable. Hence, they are a good choice for building a long-term investment portfolio. In this article, let’s look at the best blue chip stocks list in India in September 2024 based on market capitalisation.

Best Blue Chip Stocks In India In September 2024 – Based on Market Capitalisation

Note: The top 10 blue chip stocks in India list have been selected from the Nifty 50 universe and sorted based on Market capitilisation as of September 13, 2024.

Overview Of Best Blue Chip Stocks In India

• Tata Consultancy Services

Tata Consultancy Services (TCS) is a leading IT services and consulting company and a key member of the Tata Group. For over 50 years, TCS has been helping some of the world’s biggest companies with their digital transformations. The company provides a wide range of services, including business, technology, and engineering solutions, driven by advanced technology and consulting expertise. TCS is also known for being very generous to its shareholders, having distributed about 70% of its cash flow as dividends from FY05 to FY20 and around 80% since FY15.

For the quarter ended June 2024, the company’s revenue increased to ₹52,844.00 crore from ₹51,488.00 crore in the preceding quarter. Meanwhile, the net profit increased to ₹12,115.00 crore from ₹11,393.00 crore in the previous quarter. 

Key metrics: 

• Earning per share (EPS):₹124.90
• Return on equity (ROE): 62.66%

• HDFC Bank Limited

HDFC Bank Limited, often called HDFC, is a major Indian banking and financial services firm based in Mumbai. It is the largest private sector bank in India by assets and ranks as the tenth-largest bank globally by market value as of May 2024. By April 2024, HDFC Bank’s market capitalisation reached $145 billion, making it the third-largest company listed on Indian stock exchanges.

For the quarter ended June 2024, the company’s revenue increased to ₹73,033.14 crore from ₹71,472.75 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹16,174.75 crore from ₹16,511.85 crore in the previous quarter. 

Key metrics: 

• EPS: ₹85.48
• ROE: 14.86%

• Bharti Airtel

Bharti Airtel, commonly known as Airtel, is a global telecom company headquartered in New Delhi. It operates in 18 countries across Asia and Africa. Airtel is the second-largest mobile network provider in India and worldwide. The company offers various telecom services, including 2G, 3G, and 4G wireless, fixed-line, broadband, and DTH services. Airtel also works with Ericsson, Huawei, and Nokia for network equipment and partners with Amdocs for IT support.

For the quarter ended June 2024, the company’s revenue increased to ₹24,917.10 crore from ₹24,345.40 crore in the preceding quarter. Meanwhile, the net profit increased to ₹2,469.20 crore from ₹1,823.90 crore in the previous quarter. 

Key metrics: 

• EPS: ₹9.86
• ROE: 5.95%

• ICICI Bank

ICICI Bank is the second-largest private bank in India, providing a wide range of financial products and services to individuals, small businesses, and large corporations. The bank has a large network of branches, ATMs, and other service points. The ICICI group also operates in areas such as life and general insurance, housing finance, and more through its subsidiaries and partners.

For the quarter ended June 2024, the company’s revenue increased to ₹38,995.78 crore from ₹37,948.36 crore in the preceding quarter. Meanwhile, the net profit increased to ₹11,059.11 crore from ₹10,707.53 crore in the previous quarter. 

Key metrics: 

• EPS: ₹60.12
• ROE: 17.74%

• Infosys Ltd

Infosys Ltd offers consulting, technology, outsourcing, and digital services to help clients with their digital transformation strategies. It is the second-largest IT company in India, just after TCS. Based in Bengaluru, Infosys is one of the top three IT service brands globally. Recently, Infosys has teamed up with major companies like Microsoft and NVIDIA for AI projects. 

For the quarter ended June 2024, the company’s revenue increased to ₹33,283.00 crore from ₹32,001.00 crore in the preceding quarter. Meanwhile, the net profit decreased to ₹5,768.00 crore from ₹8,480.00 crore in the previous quarter. 

Key metrics: 

• EPS: ₹65.14
• ROE: 33.32%

Conclusion

Blue chip companies have solid business models and a history of strong returns, often including regular dividend payments, which makes them a top choice for cautious investors. Those who are willing to take on more risk might benefit from adding blue chip stocks to their portfolios, as they can provide stability during market ups and downs. However, blue chip companies are not immune to economic challenges like recessions. Therefore, it’s important to diversify your investments by including other types of stocks. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.