You are obviously thinking about their long term education and hence the focus should be on stocks that can really make sense in the very long time frame of 10-15 years. Here are some stocks that you can seriously look at.

a) Britannia is a stock that you must have in your portfolio. The company has created a niche in the premium biscuit segment and has shown over 70% growth in profits in the September quarter. The top line has been struggling but that is temporary and should pick up when the growth returns.

b) HDFC Bank has been a stock market favourite for a long time but it continues to capitalize on high levels of growth and low level of NPAs. It is already the largest private bank in terms of total business and its annual profits are more than all the other PSU banks put together.

c) Reliance may be the largest stock by a margin but it still is fairly fleet footed in terms of identifying and playing on opportunities in the market place. It is now becoming an interesting sum of parts play with telecom and retail contributing most of the value.

d) Bajaj Finance may be expensive by NBFC standards but it remains the best proxy for the growth of consumer demand in India. Also, it does not really have to worry on the asset liability mismatch front. Growth and margins have been consistent.

Apart from the above, you can also consider stocks like Havells, Biocon and also stocks like Kotak Bank for the very long time. They have rarely disappointed the long term investors.