Top 10 stocks with highest returns in past 10 years

Over the past decade, the Indian equity market has provided remarkable wealth-creation opportunities. Several companies have delivered exceptional returns, far outpacing conventional benchmarks. 

As traders and investors rush in to take advantage of the growing Indian equity markets, it becomes important to study and explore the top 10 stocks that have given the highest returns in the past 10 years. While past-performance is not an indicator of future outcomes, it still gives us an estimate to understand what kind of returns we can expect from any stock.

List of top 10 Indian Stocks with Highest Returns in the Past 10 Years

Here is a list of the top 10 Indian stocks with the highest returns in the past 10 years. It includes companies across sectors like banks, non-banking financial companies (NBFCs), information technology, automobiles, oil and petroleum, metal, among others.

1. Bajaj Finance Limited
Bajaj Finance tops the list with a remarkable 3,400% return. The company evolved from a conventional lender to India's most dynamic non-banking financial company (NBFC), growing its loan book from ₹10,000 crores to over ₹2 lakh crores.

Key drivers:

- A digital- first approach, serving 70 million+ customers

- Wide product portfolio including personal loans, business loans, and credit cards

- Gross NPAs consistently under 1.5%

- Revenue growth from ₹3,000 crores in 2015 to ₹58,010 crores in 2025

2. Titan Company Limited

Titan delivered a 1,500% return, driven by its strategic shift towards jewellery. The Tanishq brand now contributes 89% of its revenue.

Key drivers:

- Tier 2 and Tier 3 expansion with 400+ new stores

- Customer loyalty programmes like gold exchange

- International expansion aimed at ₹4,200 crores revenue by 2027

- Revenue increase from ₹20,000 crores in 2015 to ₹68,000 crores in 2025

3. Tata Consultancy Services Limited (TCS)

TCS gave returns of 600% over ten years, reinforcing its dominance in IT services with revenue for FY2024 exceeding USD 29 billion.

Key drivers:

- Margins of 24.6%, among the highest in the industry

- Strong client relationships across sectors including BFSI and healthcare

- Focus on AI, cloud, and quantum computing technologies

4. Reliance Industries Limited 

Reliance saw returns of 515.6% through its transformation from an energy business to a technology-driven consumer company.

Key drivers:

- Jio achieved 400+ million subscribers in under five years

- JioMart expanded the retail footprint

- Revenue of ₹9.6 lakh crores in FY 2025 with a 10% CAGR

5. Infosys Limited

Infosys marked returns of 400% by focusing on digital services and cloud technology.

Key drivers:

- Cobalt cloud platform growth

- Consulting services outperforming traditional IT support

- FY 2024 revenue of USD 18.5 billion

6. Bajaj Auto

With a 327.7% return, Bajaj Auto has maintained leadership in premium motorcycles and exports.

Key drivers:

- Strong exports contributing 40% of revenue

- Strategic partnership with KTM

- High- margin premium models like Pulsar and Dominar

7. HDFC Bank 

The share price of HDFC Bank saw returns of 300% by scaling retail and digital banking operations.

Key drivers:

- Asset quality with GNPA below 1.5%

- 15%+ annual growth in personal loans and cards

- Mobile banking adoption among 80 million users

8. JSW Steel
JSW Steel’s stock price delivered a 250% return by doubling production capacity and improving balance-sheet metrics.

Key drivers:

- Capacity expansion to 28 million tonnes

- Vertical integration into mining

- Export growth strategy to reduce domestic reliance

9. Asian Paints 

Asian Paints’ share price witnessed 182.4% returns through product innovation and distribution.

Key drivers:

- Over 60,000 retail touchpoints

- Technological advancements in colour offerings

- EBITDA margins supported by cost efficiency

10. String Metaverse:
Though smaller, String Metaverse saw returns of 175.8%, benefiting from interest in digital transformation and metaverse adoption.

Key drivers:

- Revenue growth from ₹50 crores to ₹150 crores over five years

- Software solutions for enterprise metaverse applications

- ROCE of 67%, signalling strong operational efficiency

Sectoral Trends and Investment Themes

These companies span diverse industries, illustrating India's structural growth themes.

- Financial inclusion: Bajaj Finance and HDFC Bank capitalised on formal credit access

- Consumption rise: Titan and Asian Paints leveraged growing middle-class spending

- Digital shift: TCS and Infosys benefited from global tech adoption

- Infrastructure push: JSW Steel has been supported by construction demand

Factors to consider

While these companies delivered strong returns, investors must consider:

- High valuations in some sectors

- Exposure to economic cycles (for example, autos, steel)

- Regulatory shifts, especially in finance and telecom

- Disruption from new entrants or technologies

Performance Context: 

From 2015 to 2025, India maintained a 6-7% GDP growth rate. Supportive policies, foreign investment inflows, and improved governance created fertile ground for equity market performance.

Contributing factors:

- Favourable demographics

- Reforms like Digital India and GST

- Enhanced corporate governance

Future returns will depend on each firm’s ability to retain competitive advantages and adapt to market changes.

Sustainability Indicators:

- Strong financials and low debt

- Technology adoption and innovation

- Market share retention and brand strength

Investor Takeaways

The success of these ten stocks offers valuable lessons:

- Diversification across sectors enhances portfolio resilience

- Focus on quality companies with strong fundamentals

- Patience and long-term holding often yield superior outcomes

India's top performing stocks over the past decade have combined strategic foresight with operational discipline. From Bajaj Finance's credit expansion to TCS's digital services dominance, these companies navigated complex market dynamics to deliver sustained shareholder value.

However, past performance is not a guarantee of future success. Valuations, market shifts, and regulatory changes require investors to remain vigilant and informed. A balanced approach that includes fundamental research, diversification, and a long-term perspective is essential.

_{Disclaimer: The blog is for information purposes only and anything mentioned herein shouldn’t be construed as a fundamental reason to buy/hold/sell any stock. Furthermore, the information provided in the blog and observations made therefrom shouldn’t be treated as the extension of recommendations made on the other properties of Ventura Securities. If you follow any research recommendations made by our fundamental or technical experts, you should also read associated risk factors and disclaimers.}

_{We strongly suggest you to consult your financial advisor before taking any decision pertaining to your finances. Asset allocation becomes extremely relevant.}

_{We, Ventura Securities Ltd, (SEBI Registration Number INH000001634) its Analysts & Associates with regard to blog article hereby solemnly declare & disclose that:}

_{We do not have any financial interest of any nature in the company. We do not individually or collectively hold 1% or more of the securities of the company. We do not have any other material conflict of interest in the company. We do not act as a market maker in securities of the company. We do not have any directorships or other material relationships with the company.}

_{We do not have any personal interests in the securities of the company. We do not have any past significant relationships with the company such as Investment Banking or other advisory assignments or intermediary relationships. We are not responsible for the risk associated with the investment/disinvestment decision made on the basis of this blog article.}