One of the leading industries boosting India's growth is the Information Technology (IT) industry. Although the IT stocks have experienced exceptional returns during the pandemic, selling pressure is present.
Even though the market is currently uncertain, IT stocks can be profitable for long-term investors. The preferences of the investors should change to value stocks that are currently trading at low prices if they want to make money.
In this article, we will discuss the top 10 IT stocks in India as of 2023.
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In order to invest in the top IT stocks in India in 2023, you should consider a number of distinct factors. Let's examine those elements and learn enough about them in greater depth:
Insurance, pharmaceuticals, financial and banking services, power and utility services, and information and entertainment are just a few of the services that information technology companies provide. You must ascertain whether the businesses offer a wide range of services and industry segments that can contribute to the overall growth of the IT business, being an investor.
In case the facilities offered by the firms are reliable and have appropriate development components, investing in such businesses will yield greater returns on your money if you provide the company shares enough time.
Before investing in the top technology stocks in India, an investor must evaluate the offerings of the various IT companies. Since the company's business and stock prices are significantly impacted by new and innovative products, the department of research and development also needs to be strong and productive.
Although the financial activities of IT companies are advantageous for the shareholders and investors of the companies, investors must also assess whether these businesses have sufficient financial resources to support both their natural and unnatural growth.
Many Indian-based IT companies have high hopes for achieving their yearly goals and bringing in enough money for the current fiscal year. The current fiscal year's revenues for the entire IT sector are predicted to increase by 12 to 14 per cent.
Being an investor, you ought to be conscious of the revenue split among various regions of the world and evaluate the Indian rupee's exchange rate at the same time. You will gain knowledge of the company's annual revenue and potential earnings from this.
This is the best stock in IT sector. TCS is one of the most valuable IT companies worldwide in terms of market capitalization. A subsidiary of the Tata Group, TCS has operations across 46 countries. It was initially started as ‘Tata Computer Systems’ in 1968. It became a publicly listed company in 2004. 53 years after it was founded, TCS now has a total of 50 subsidiary companies and is recognized worldwide as an IT giant.
This is another best IT stocks in India. Second on our list of top IT stocks in 2023 is Infosys Ltd. Infosys, headquartered in Bangalore, is an Indian multinational corporation that provides IT services, outsourcing services, and consulting to companies across different sectors.
It was founded on 2 July 1981 in Pune by seven engineers. Infosys’ IPO in 1993 was undersubscribed and Morgan Stanley came to the rescue when it picked up a 13% stake in the company at the offer price. In August 2021, nearly 40 years after it first came into the business, Infosys became the fourth Indian company to cross $100 billion in market capitalization.
HCL Tech, a subsidiary of HCL Enterprise, was started 25 years ago by Shiv Nadar. It has its headquarters in Noida, Uttar Pradesh, and offices in around 50 countries.
HCL Tech ranks amongst the top 20 largest publicly traded companies in India and is one of the top IT stocks in India according to market capitalization.
Wipro was incorporated in 1945 in Amalner, Maharashtra, by Mohamed Premji. Mohamed Premji first started the company to be a manufacturer of vegetable and refined oils under the name 'Western India Products'. The name was later abbreviated to Wipro.
After Mohamed Premji’s death in 1966, his son Azim Premji became the chairman and the company shifted its focus to new opportunities in the IT and computing industry. Wipro now deals with companies around the world and employs over 2 lakh employees.
Tech Mahindra, with its headquarters in Pune, was founded 35 years ago by Anand Mahindra. It was first started as a joint venture with British Telecom, which exited the company in December 2012. Now, Tech Mahindra has over 1.25 lakh employees across 90 countries.
L&T Infotech was incorporated in December 1996. The company rebranded itself as ‘LTI’ in May 2017. It is a subsidiary of Larsen & Toubro.
MindtTree, like L&T, is a subsidiary of Larsen & Toubro, which holds a 61% stake in the company as of September 2021. It was founded 22 years ago by ten IT professionals. The company now employs over 23,000 employees and serves customers from different countries across the globe.
Mphasis was started 23 years ago by Jerry Rao and Jeroen Tas. It now has over 60 sales and delivery centres in 19 countries with its headquarters in Bangalore, India.
Info Edge was founded in 1995 by Sanjeev Bikhchandani. It is famous amongst the public for its online job portal Naukri.com and its matrimony website Jeevansaathi.com.
L&T Technology Services Limited is an India-based engineering research and development services company. The Company provides services and solutions in the areas of product software, mechanical and manufacturing engineering, embedded systems, engineering analytics, and plant engineering.
A business sector known as information technology (IT) deals with computing, including hardware, software, telecommunications, and generally anything related to the transmission of information or the systems that support communication.
The list of the top 10 most popular and trusted IT sector stocks in India for 2023 can be found above. We sincerely hope that this blog will enable you to comprehend the stocks on this list better.
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Research Analyst - Bavadharini KS