BENGALURU: The ‘Digital India’ theme has emerged as an incredible wealth-generation opportunity for retail investors, investment technology platform WealthDesk said on Wednesday.
The ‘WealthDesk Year-end Bulletin’ underscored that the country has made significant progress in terms of digital friendliness since 2017.
As per the bulletin, ITC Ltd., ICICI Bank, Coal India, Sun Pharmaceutical Industries and State Bank of India were the most popular stocks among the ‘WealthBasket Curators’. ITC Ltd had the highest WealthBasket count with the stock being included in 19 WealthBaskets.
ICICI Bank followed suit with 12 WealthBasket counts. Coal India had a WealthBasket count of 11, while Sun Pharma and SBI were included in 10 WealthBaskets, respectively.
Additionally, Alpha Bluechip emerged as the most trending WealthBasket of 2022 with an absolute return of 13.21 per cent and Gulaq Gear 6 was the best WealthBasket in terms of outperforming the index with 16.4 per cent absolute returns. “Securities Market regulator SEBI has created a great incubation ground to enable innovation in capital markets keeping the investor interest at the epicentre. This builds a lot of confidence and empowers many first-time Investors in Equities to start their investment journey,” said Ujjwal Jain, Founder and CEO, WealthDesk.
“Owing to a strong macroeconomic environment India will continue to grow at a better pace than many emerging markets. There will be opportunities in specific sectors from time to time, however, investors can look to invest with WealthBasket curators who align their stock bets accordingly,” Jain added.
The government aims to enhance the digital economy’s contribution to 20 per cent of GDP by FY25.