In this article, we are going to look at the 5 Best Indian Stocks to Buy According to Hedge Funds. For a longer list and more details on how we picked these stocks, you can go to 9 Best Indian Stocks to Buy According to Hedge Funds.
5. MakeMyTrip Limited (NASDAQ:MMYT)
Number of Hedge Fund Holders: 26
MakeMyTrip Limited (NASDAQ:MMYT) is one of the Best Indian Stocks to Buy According to Hedge Funds. On March 16, the company released an update on its strategic priorities, amidst strong travel demand in India over the long term, thanks to structural demand drivers such as an increase in the middle class, higher propensity to spend on travel, elevated digital adoption, etc.
Along with the acquisition of Goibibo and redBus, which resulted in the consolidation in the broader Indian market, MakeMyTrip Limited (NASDAQ:MMYT) made numerous investments. These were focused on expanding the capabilities throughout travel segments.
The company wrapped up the acquisition of a majority stake in Flamingo Transworld, apart from completing a strategic minority investment in and entering into a partnership with Atlys, which is a visa processing platform. MakeMyTrip Limited (NASDAQ:MMYT) continues to use AI in a bid to improve customer experience on the platform, bolstering its full-stack travel ecosystem.
MakeMyTrip Limited (NASDAQ:MMYT) is a travel service provider.
4. ReNew Energy Global Plc (NASDAQ:RNW)
Number of Hedge Fund Holders: 26
ReNew Energy Global Plc (NASDAQ:RNW) is one of the Best Indian Stocks to Buy According to Hedge Funds. On April 15, the company announced commissioning of ~2.4 GW of assets in FY 2026, which took its total operating capacity to ~12.6GW. This comes after adjusting the 600MW of assets sold during the year as of March 31, 2026. The company has remained at the forefront of India’s green transformation for more than 15 years.
The commissioned capacity of 2.4 GW consists of 1.75 GW of solar, 0.62GW of wind, and 25MW/100MWh of battery energy storage systems (BESS). ReNew Energy Global Plc (NASDAQ:RNW) has a fully constructed capacity of ~450MW. This is expected to be commissioned soon. As of March 31, the company’s gross capacity stood at ~20GW. ReNew Energy Global Plc (NASDAQ:RNW)’s Chief believes that elevated demand trends for power, cost competitiveness of renewable energy, as well as supportive policy frameworks, help create a long-term compelling growth backdrop.
ReNew Energy Global Plc (NASDAQ:RNW) is into power generation via non-conventional and renewable energy sources in India.
3. Infosys Limited (NYSE:INFY)
Number of Hedge Fund Holders: 30
Infosys Limited (NYSE:INFY) is one of the Best Indian Stocks to Buy According to Hedge Funds. On April 7, it was announced that Infosys Limited (NYSE:INFY) and Harness announced a strategic collaboration, which is focused on ramping up agentic AI-led software delivery transformation for companies globally. The alliance remains in line with the combined capabilities of Infosys Topaz Fabric and Infosys Cobalt. Notably, the Harness Software Delivery Platform will fuel improvements in productivity, software engineering, and AI governance, along with time-to-market at scale.
Overall, Infosys Limited (NYSE:INFY) and Harness plan to provide integrated solutions, which are developed to help large-scale modernization and transformation programs. There will also be an emphasis on complex, high-scale, and regulated environments. Both companies enable a more disciplined path from innovation to production. They are also embedding security, compliance, and resilience into how the software is delivered throughout the complex environments. This will help the enterprises adopt AI responsibly, ramp up outcomes, as well as sustain long-term advantage.
Infosys Limited (NYSE:INFY) is in the provision of consulting, technology, outsourcing, and digital services.
2. ICICI Bank Limited (NYSE:IBN)
Number of Hedge Fund Holders: 41
ICICI Bank Limited (NYSE:IBN) is one of the Best Indian Stocks to Buy According to Hedge Funds. On April 18, Reuters noted that the bank posted a stronger-than-expected increase in fourth-quarter profit, thanks to strong loan growth and reduced provisions for bad loans. ICICI Bank Limited (NYSE:IBN) reported a standalone net profit of INR 137.02 billion ($1.48 billion) for Q4 2026, up from INR 126.30 billion a year earlier. As per LSEG data, the analysts had projected a profit of INR 126.52 billion.
Reuters, while quoting ICICI Bank Limited (NYSE:IBN)’s executive director Sandeep Batra, highlighted that the profits were aided by reduced provisions, recoveries from the written-off accounts, as well as growth in core interest income. However, because of geopolitical uncertainties, Mr. Batra didn’t provide the forecast for the new fiscal year.
ICICI Bank Limited (NYSE:IBN)’s total loans increased 15.8% from a year earlier. This increase came off the back of continued momentum in retail lending, primarily mortgages and vehicle loans. However, business banking and corporate loans also made a contribution.
ICICI Bank Limited (NYSE:IBN) provides banking and financial services to the retail and corporate customers.
1. HDFC Bank Limited (NYSE:HDB)
Number of Hedge Fund Holders: 49
HDFC Bank Limited (NYSE:HDB) is one of the Best Indian Stocks to Buy According to Hedge Funds. On April 18, Reuters reported that the bank posted a stronger-than-expected increase in Q4 profit, thanks to the pick-up in lending to consumers. This was despite lending margins remaining weak. HDFC Bank Limited (NYSE:HDB)’s standalone net profit came at INR 192.2 billion ($2.08 billion) for Q4 2026, just surpassing the analysts’ estimate of INR 191.16 billion, as per data compiled by LSEG.
Reuters highlighted that loan demand in India saw improved momentum in H2 of the fiscal year ended in March, with easing inflation and reduced taxes aiding household spending as well as corporate borrowing. HDFC Bank Limited (NYSE:HDB)’s advances went up by 12% in Q4 2026 from a year earlier. This was mainly because of retail loans, which include mortgages and personal debt. Also, total deposits increased by 14.4%.
HDFC Bank Limited (NYSE:HDB) offers banking and financial products and services.
While we acknowledge the potential of HDB to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than HDB and that has 100x upside potential, check out our report about the cheapest AI stock.
