These IT companies have given maximum returns in the last one year; do you have any?
Nifty IT index is down by 17 per cent, however, these IT companies bucked the trend.
In the last one-year Nifty IT index is down by 17 per cent. This does not mean every stock from this sector is down. With a considerable impact on the GDP and welfare of the nation, the IT & BPM sector has emerged as one of India's most important economic drivers. In FY22, the IT sector contributed 7.4 per cent of India's GDP, and by 2025, it is anticipated to make up 10 per cent of India's GDP.
Sector after sector is being transformed by cutting-edge digital applications, and India is now ready for the next stage of its IT revolution. With 76 crore people now having access to the internet, India is seen by the rest of the globe as having one of the largest Internet user bases and the most affordable Internet pricing.
National Association of Software and Service Companies (Nasscom) reports that the Indian IT sector generated USD 227 billion in sales in FY22, representing a 15.5 per cent YoY growth.
By 2025, it is anticipated that the Indian software products market would be worth USD 100 billion. Indian businesses are concentrating on making investments abroad to broaden their worldwide reach and improve their global delivery hubs.
Following are the list of IT stocks that gave returns up to 75 per cent in just 1 year*:
(* Data as of April 18, 2023)