Best stocks under Rs. 1000 in 2023

Last Updated on Jan 1, 2024 by Harshit Singh

Does investing in India’s top-performing stocks mean emptying your wallet? Think again! Contrary to popular belief, you don’t need deep pockets to find lucrative opportunities in the stock market. In fact, plenty of high-potential stocks under Rs. 1,000 are listed at affordable prices waiting to be discovered.

The only catch? You need to put in a little effort to uncover these hidden gems. In this blog, we’ve done the groundwork for you and identified the best stocks under Rs. 1,000 using Tickertape Stock Screener.

Stock with highest 1Y return

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio 1Y Return (%) 5Y CAGR (%)
Jindal SAW Ltd Building Products – Pipes 13,098.93 422.15 20.71 284.82 37.69
Suzlon Energy Ltd Renewable Energy Equipment & Services 51,888.81 38.50 18.21 259.81 50.42
REC Ltd Specialized Finance 1,08,712.65 424.85 9.74 252.87 36.24
Power Finance Corporation Ltd Specialized Finance 1,26,261.89 395.05 7.95 229.90 35.68
Indian Railway Finance Corp Ltd Specialized Finance 1,29,835.61 100.40 20.49 205.17
Ircon International Ltd Construction & Engineering 16,120.44 174.55 21.07 192.87 31.32
Kalyan Jewellers India Ltd Precious Metals, Jewellery & Watches 36,474.18 362.30 84.22 189.61
ITI Ltd Telecom Equipments 29,263.81 307.25 -81.32 188.90 26.57
NLC India Ltd Metals – Diversified 35,144.30 250.20 25.18 188.75 29.29
Zensar Technologies Ltd IT Services & Consulting 13,832.54 607.20 42.22 183.08 21.17

Note: The information is dated 1st January 2024. We have listed the best stocks under Rs. 1,000 across different market capitalisations based on the following parameters:


  • Stock Universe – Nifty 500
  • Close price under Rs. 1,000
  • 1Y return – sorted from high to low
  • 5Y CAGR

This list of best stocks under Rs.1,000 across different market capitalisations emphasises the consistent returns generated, as evidenced by the 1Y return and 5Y CAGR. Although investors often prefer large-cap stocks for their stability, small-cap stocks have demonstrated impressive short-term returns.

Therefore, if you’re looking for the best stocks for the long term, make sure to consider the 5Y CAGR while selecting the stocks. At last, for an informed investment decision, it is important to conduct research or seek professional advice.

Stocks with highest net profit margin

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio Net Profit Margin (%) 5Y Avg Net Profit Margin (%)
Indian Energy Exchange Ltd Power Trading & Consultancy 14,939.02 168.00 48.84 62.76 59.74
Piramal Enterprises Ltd Diversified Financials 20,820.48 934.20 2.09 55.85 19.86
Nippon Life India Asset Management Ltd Asset Management 28,123.46 455.90 38.88 47.69 41.67
Aptus Value Housing Finance India Ltd Home Financing 15,953.09 330.10 31.71 44.55 40.49
Great Eastern Shipping Company Ltd Oil & Gas – Storage & Transportation 13,945.50 972.65 5.42 41.73 17.88
SJVN Ltd Renewable Energy 35,741.49 92.90 26.29 41.27 44.15
Sun Tv Network Ltd TV Channels & Broadcasters 28,066.71 710.30 16.45 41.09 39.97
Five-Star Business Finance Ltd Consumer Finance 21,475.64 734.70 35.58 39.47 36.23
NHPC Ltd Renewable Energy 64,890.92 66.15 16.68 34.16 29.84
UTI Asset Management Company Ltd Asset Management 11,026.78 869.70 25.21 33.90 35.89

Note: The information is dated 1st January 2024. We have listed the best stocks under Rs. 1,000 based on the following parameters:

  • Stock Universe – Nifty 500
  • Close price under Rs. 1,000
  • Net profit margin – sorted from high to low
  • 5-yr average net profit margin

With a net profit margin, an investor can ascertain whether the company is generating enough profit. Companies with positive net profit margins indicate that the company’s operating and overhead costs are in check.

Sometimes, despite the positive net profit margin for FY, the average net profit lies in the negative, indicating that the company’s revenue may be increasing along with the operating costs. Therefore, considering a 5-yr average net profit margin is important, as it will help you ascertain companies with healthy net profit margins over the years.

Stocks with highest dividend yield

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio Dividend Yield (%) 3Y Historical Dividend Growth (%) Dividend Per Share (Rs.)
Vedanta Ltd Metals – Diversified 96,032.89 257.15 9.08 39.32 196.35 101.50
Hindustan Zinc Ltd Mining – Diversified 134,386.27 318.35 12.79 23.74 66.02 75.50
360 One Wam Ltd Investment Banking & Brokerage 25,443.97 702.85 38.67 9.66 280.75 69.00
IDFC Ltd Diversified Financials 20,263.80 125.50 4.77 9.47 56.18 12.00
Coal India Ltd Mining – Coal 231,718.59 381.80 8.23 6.45 26.43 24.25
Glenmark Life Sciences Ltd Pharmaceuticals 8,050.65 655.20 17.24 6.39 42.00
Oil and Natural Gas Corporation Ltd Oil & Gas – Exploration & Production 257,958.63 205.35 7.28 5.49 31.04 11.25
Oil India Ltd Oil & Gas – Exploration & Production 40,356.14 378.75 4.62 5.37 23.57 20.00
Power Grid Corporation of India Ltd Power Transmission & Distribution 220,610.32 238.25 14.31 4.66 25.29 8.30
Petronet LNG Ltd Oil & Gas – Storage & Transportation 33,397.50 225.60 10.04 4.49 -7.17 10.00

Note: The information is dated 1st January 2024. We have listed the best stocks under Rs. 1000 based on the following parameters:

  • Stock Universe – Nifty 500
  • Close price under Rs. 1,000
  • Dividend yield – sorted from high to low
  • Dividend per share
  • 3-yr historical dividend growth – set from 0 to high

A company usually announces a dividend, the portion of a profit, to pay its valued shareholders. It usually occurs when a company is maintaining a profitable balance sheet. The dividend yield is the percentage of profit to be distributed per share. For example, if a company with a stock price of Rs. 500 declares a dividend of Rs. 50 per share. In that case, the stock’s dividend yield will be 50/500*100 = 10%.

If you want to identify stocks that have generated consistent dividends, check out the 3-yr historical dividend growth. It indicates the percentage by which a company’s dividend has grown over the last three years. The higher these indicators, the better it is.

Stocks with highest Return on Equity (ROE)

Stock Name Sub-Sector Market Cap (Rs. in cr.) Close Price (Rs.) PE Ratio Return on Equity (%) 5Y Avg Return on Equity (%)
Triveni Engineering and Industries Ltd Sugar 7,545.41 345.10 4.21 78.28 34.17
Coal India Ltd Mining – Coal 2,31,718.59 381.80 8.23 55.32 52.96
Indian Railway Catering and Tourism Corporation Ltd Online Services 71,000.00 891.85 70.59 46.26 34.58
Castrol India Ltd Commodity Chemicals 17,779.47 191.70 21.81 46.16 53.56
Hindustan Zinc Ltd Mining – Diversified 1,34,386.27 318.35 12.79 44.53 27.34
Easy Trip Planners Ltd Tour & Travel Services 7,014.12 40.70 52.26 44.28 45.10
Adani Power Ltd Power Generation 2,02,547.15 523.25 18.88 43.87 6.52
ICICI Securities Ltd Investment Banking & Brokerage 23,204.97 709.95 20.76 42.31 55.52
IDFC Ltd Diversified Financials 20,263.80 125.50 4.77 41.36 3.94
Indian Energy Exchange Ltd Power Trading & Consultancy 14,939.02 168.00 48.84 40.72 46.07

Note: The information is dated 1st January 2024. We have listed the top stocks under Rs. 1,000 based on the following parameters:

  • Stock Universe: Nifty 500
  • Close price under Rs. 1,000
  • ROE – sorted from high to low
  • 5-yr average ROE – set from 0 to high

The Return on Equity (ROE) metric reflects the level of profitability that a company achieves in relation to its shareholders’ equity. It gauges the efficiency with which a company utilises its equity financing to generate profits. A higher ROE signifies better performance in this regard.


Conclusion

Relying solely on one parameter to evaluate a stock may offer a partial picture. For example, a stock may have a high dividend yield in FY 2022 but also carry a significant debt burden and experience declining net profit margins. Therefore, before buying any stock, it’s important to consider multiple parameters and financial ratios. Whether looking for the best stocks for a long-term or short-term trade, with Tickertape Stock Screener, you can identify good stocks at low prices.

FAQs

How many shares can I buy for Rs. 1000?

The number of shares you can buy for Rs. 1000 would depend on the current market price of the shares you wish to purchase. 

Which is the best trading stock?

Apply the filter’ Daily Volume’ to get the trading volume from the day stock was last traded. You can find the best trading stock by sorting the result.

Which stocks generated the highest dividend in FY 2023?

In FY 2023, Vedanta Ltd recorded the highest dividend yield.

Harshit Singh
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