The Information Technology sector is one of the most critical sectors in the global economy. In India, it heavily drives GDP growth. According to data released by NASSCOM, the contribution of IT in GDP growth was 8% in the year 2020.
Clearly, the 21st century is driven by technology. From education to healthcare, government, and infrastructure, almost all sectors are impacted by technology.
In fact, IT is the most important industry in India after agriculture, as it generates millions of jobs every year. Due to these reasons, the future growth prospects of the IT sector are huge. The IT sector attracts a lot of interest, and it regularly features in investor picks for online trading. This is also the reason why IT stocks are recommended by almost all online trading platforms.
Let us have a look at the Top 5 Information Technology Stock In Indian Stock Market.Â
- Tata Consultancy Services (TCS)
Tata Consultancy Services Ltd. is one of the most valued IT services, consulting, and business solutions organisations. It is a part of the Tata Group of companies and was established by Tata Sons Ltd. It has a presence across 46 countries and focuses on providing consultancy services to firms across sectors. With a market cap of Rs.13.92 lakh crores, its stock has been one of the highest performing stocks on BSE. TCS share price has varied from Rs. 3139.85 to Rs.3761.25 in the past year.
- Infosys Limited
Infosys Ltd. is an Indian IT MNC that provides global business consulting, IT, and outsourcing services. It became the fourth Indian company to cross USD 100 billion in market cap. With a presence in 45 countries, it is the second-largest IT Company with a market cap of Rs.7.29 lakh crores. Over the past year, Infosys share price has varied from Rs.1230 to Rs.1953.70.
- Wipro Limited
Wipro Ltd. was started as Western India Products limited in the year 1945. An Indian IT MNC, Wipro has its business spread across six continents. It uses robotics and cloud computing to enable its clients to steer towards success. With a market cap of Rs.3.11 lakh crores, Wipro share price has varied from Rs.398 to Rs.739 in the past year.
- HCL Technologies
HCL Technologies Ltd., a subsidiary of HCL Enterprise, is a leading global IT services company providing a range of business outsourcing services, software services, and infrastructure services.
With a global presence across 32 countries, it has operations in diversified sectors, which include banking, capital markets, healthcare, defence, aerospace, etc. With a market cap of Rs.3.21 lakh crores, HCL’s share price has varied from Rs. 954 to Rs.1351.55. In the past year.
- Tech Mahindra
Tech Mahindra Ltd. started off as a joint venture with British Telecom in the year 1986, which took an exit from the company in the year 2012. The company, which is a part of the Mahindra Group, provides Network technology solutions and Business Process Outsourcing (BPO) services, catering to numerous industries. With a market cap of Rs.1.41 lakh crores, Tech Mahindra’s share price has varied from a 52-week low of Rs.915.05 to a high of Rs.1837.75.
To conclude, these are the five best IT stocks in the Indian stock market that have performed well historically and look reliable in the future. However, you must carefully study and do the research before putting your money in any stock for the long term.
