In this article, we cover the top 5 stocks under Rs 500 with solid fundamentals. We then present a compiled list of more than 10 such companies. So, without further ado, let's move on.
Wipro was founded 76 years ago. in December 1945 by Muhammed Hasham Premji. It was originally founded as a manufacturer of vegetable and refined oils.
During the 1970s he shifted his focus to the emerging IT opportunities in India. Today, Wipro is one of the four Indian IT giants. The other three are TCS, Infosys, and HCL Technologies. It serves more than 1,300 customers worldwide. It employs more than 250,000 people and is present in 66 countries.
Geographically, the US accounts for more than half of Wipro's sales. In terms of sector, banking and financial services represent the largest segment, generating a lion's share of 30% of the company's revenue.
Adani Power Ltd., a subsidiary of Adani Group, is engaged in the thermal power generation business. With a capacity of 12,450 MW, it is the largest private thermal energy producer in India.
Adani Power has plants in Gujarat Maharashtra, Karnataka, Rajasthan, and Chhatisgarh. It started in 1996 as an electricity trading company. The company has 5 more power plants under construction which will give it an additional capacity of 7000 MW. by Anil Sardana, who acts as Managing Director. Its founder, Gautam Adani, currently serves as Chairman of the Board.
For the year ended March 2022, Adani Power recorded its highest ever net profit at Rs 4,912 crore. It had posted losses in 7 of the last 10 fiscal years. As a result, the share price shot up. Multibagger returns of over 487% in one year for their investors.
Jindal Steel and Power Ltd. (JSPL), headquartered in Delhi, is part of the diversified OP Jindal Group. It is one of India's leading players in steel, mining, and infrastructure. JSPL is an integrated steelmaker with its own coal and iron ore mines. Manufactures and sells Sponge Iron, Mild Steel Slab, Rail, Mild Steel, Structural Steel, Hot Rolled Plate, Iron Ore Pellets, and Coils.
It has an iron production capacity of 10.42 MTPA. The recent rally in alloy prices benefited Jindal Steel greatly, helping it to a net profit of Rs 4,012 crores and Rs 5,753 crores in FY21 and FY22 respectively.
As a result, the company used the proceeds to reduce its debt and aggressively invest in capacity expansion.
Tata Motors Ltd. is the automotive division of the conglomerate Tata Group, which deals with the conversion of salt into the software. It started in 1945 as a locomotive manufacturer. and other technical products. The company's first vehicle was a steam roller in 1948.
Later, in 1954, TML launched its first truck called the TMB 312. To date, the company has a strong global and national presence with its product portfolio spanning all segments. It has grown organically and inorganically over the years. Read More on Best Stocks Under Rs 500 for more detailed information.
