We have included only those stocks in our analysis whose market is more than 1000 crores.
In the midst of the Corona epidemic, there have been very few such sectors in which strength has been seen. The IT sector has been a sector which has strengthened during the pandemic. BSE’s IT index has run up 24 per cent so far in 2021. In fact, it has outperformed the benchmark Sensex and BSE Smallcap indices.
It has come out from the study of Moneycontrol that 9 stocks of IT sector included in BSE have seen an increase of 100-250%. Stocks like Happiest Minds and Brightcom Group have seen a rise of 200 per cent and have been top performers. On the other hand, HCL Technologies has proved to be jumpy with a gain of just 4 per cent.
All these stocks have more strong side than weak side. We have included only those stocks in our analysis whose market value is more than Rs 1000 crores.
This study has also come out that the top 10 stocks in terms of market cap of the IT sector have also performed well. Stocks like Infosys, Wipro and Mindtree have seen gains of 25 per cent so far in 2021, while others have seen at least double-digit growth. Only HCL Tech has been an exception, which has seen a growth of only 4 per cent in this period.
Nirmal Bang has said in a report on the IT sector that while maintaining our neutral stance on this sector, we are giving BUY rating in HCL Technologies and Tech Mahindra while giving accumulate rating in TCS, Infosys and Wipro. Accumulate rating is given in Persistent Systems. Mindtree is the only stock that has shown a gain of 54 per cent so far this year, in which Sell is advised with a downward target of 2226.
Let’s take a look at these stocks
Happiest Minds Technologies | This stock was seen at Rs 1204.15 on July 5, 2021, with a rise of 250 per cent from the level of Rs 344.05 on December 31, 2020. Its 52week high is located at Rs.1247.
DMart, Info Edge may enter Nifty 50 soon, these stocks may be out of
Brightcom Group | This stock was seen at Rs 26.25 on 5 July 2021, with a rise of 207 percent from the level of Rs 8.55 on 31 December 2020. Its 52week high is located at Rs.26.
Newgen Software Technologies | This stock was seen at Rs 734.30 on 5 July 2021, with a rise of 173 percent from the level of Rs 269.10 on 31 December 2020. Its 52week high is located at Rs 755.
Subex | This stock was seen at Rs 68.60 on 5 July 2021 with a rise of 141 percent from the level of Rs 28.45 on 31 December 2020. Its 52week high is located at Rs 755.
eClerx Services | This stock was seen at Rs 2114.70 on July 5, 2021, with a gain of 139 per cent from the level of Rs 883.65 on December 31, 2020. Its 52 week high is located at Rs 2135.
Tata Elxsi | This stock was seen at Rs 4376.90 on July 5, 2021, with a gain of 139 per cent from the level of Rs 1832.85 on December 31, 2020. Its 52 week high is located at Rs 4500.
Intellect Design Arena | This stock was seen at Rs 723.90 on July 5, 2021, with a gain of 130 per cent from the level of Rs 314.75 on December 31, 2020. Its 52 week high is located at Rs.848.
Hinduja Global Solutions | This stock was seen at Rs 2500.05 on 5 July 2021 with a gain of 121 percent from the level of Rs 1128.90 on 31 December 2020. Its 52 week high is located at Rs 2729.
Mastek | This stock was seen at Rs 2292.30 on 5 July 2021 with a gain of 101% from the level of Rs 1140.90 on 31 December 2020. Its 52 week high is located at Rs 2360.
