Share Market News: The IT sector is one of the few sectors that remained unaffected by the sell-off during the second wave of Covid-19. In fact, IT stocks became the stock market favorites during the Covid-19 pressure.
While the NSE Nifty managed to register a gain of around 12 per cent in the first six months of 2021, the BSE IT index rose nearly 24 per cent in that period. The first half of 2021 saw a good number of stocks giving multibagger returns and IT stocks were a major contributor to that list. Today we are going to give you a list of 5 IT stocks giving multibagger returns in 2021.
- The stock of this Bangalore-based software company has increased from Rs 45 per stock in the year 2021 to Rs 71.95 per stock level in July 2021 on NSE.
- This means that this stock has given more than 150 per cent return to its shareholders in this period.
- Presently, the market capitalization of the company is around ₹3750 crores.
- The stock of this multinational IT company based in Mumbai and Pune has increased from Rs 883.30 per stock mark on NSE to Rs 2,101 per stock level in July 2021.
- This means that in just six months this IT stock has given around 140 per cent returns to the investors.
- The debt equity ratio of the company is zero which indicates strong balance sheet and continuous revenue generation of the company.
Happiest Minds Technologies:
- This IT stock has been skyrocketing since its listing on both NSE and BSE on 17th September 2020.
- In the year 2021, the price of this share in NSE has increased from Rs 344.25 to 1,5 in July 2021.
- This means that the stock has delivered about 250 per cent in the year 2021.
- Happiest Minds has an average profit growth of over 140 per cent over the past three years and has a return on equity (ROE) of over 55 per cent.
- The share price of this digital marketing company has increased from Rs 8.30 to Rs 80 in July 2021.
- This means that this IT counter has given about 260 percent returns in the year 2021.
- Brightcom Group’s shares are highly valued as its PE ration is over 175 per cent.
Newgen Software Technologies:
- The share price of this law code digital automation platform provider IT Company has increased from ₹ 40 on NSE to 709.90 in July 2021.
- This means that the IT stock has given around 165 per cent return to its shareholders in the year 2021.
- The stock looks overvalued as it has a PE ratio of around 43 per cent.
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