These 9 IT stocks surge 100-250% in 2021 so far, do you own any?
Stocks like Happiest Minds Technology and Brightcom Group, which were top performers, have gained 0ver 200 percent. HCL Technologies, which rose only 4 percent, was the laggard.
July 07, 2021 / 12:09 IST
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Amid the pandemic gloom, there have been very few sectors that have been resilient. IT sector is one of them with the BSE IT index gaining about 24 percent in 2021 so far. In fact, it outperformed the benchmark Sensex and even the BSE Smallcap index, which is usually investors' favourite in a bull market rally. Moneycontrol study showed nine BSE stocks from the sector have surged between 100 percent and 250 percent. Stocks like Happiest Minds Technology and Brightcom Group, which were top performers, have gained 0ver 200 percent. According to Moneycontrol SWOT analysis, all these stocks have more fundamental strengths than weaknesses. We only considered stocks with a market cap of Rs 1,000 crore. (Data Source: ACE Equity)
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Even the top 10 stocks (by market cap) from the sector have witnessed a reasonably good performance. Stocks like Infosys, Wipro, and Mindtree have gained over 25 percent each and the rest have seen at least double-digit returns, except HCL Technologies which rose only 4 percent. Nirmal Bang said in a research report: We maintain a ‘neutral’ stance on the sector with a modestly positive bias and have ‘Buy’ ratings on HCL Technologies and Tech Mahindra. We have an ‘accumulate’ rating on TCS, Infosys, and Wipro among the large caps and Persistent Systems among the mid-caps. Mindtree, which has seen an upsurge of 54 percent this year, was the only ‘Sell’ rated stock with a downward target of Rs 2,226 in Nirmal Bang coverage IT stocks. "The worrisome part (about MindTree) has been the tepid order inflow number – 12 percent on a TTM basis - which we believe will come in the way of faster revenue growth in the days ahead," the report stated.
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Happiest Minds Technologies Ltd. | The stock has risen 250 percent to Rs 1204.15 as on July 5, 2021, from Rs 344.05 on December 31, 2020. Its 52-week high is at Rs 1247.
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Brightcom Group Ltd. | The stock has risen 207 percent to Rs 26.25 as on July 5, 2021, from Rs 8.55 on December 31, 2020. Its 52-week high is at Rs 26.
Newgen Software Technologies Ltd. | The stock has risen 173 percent to Rs 734.30 as on July 5, 2021, from Rs 269.10 on December 31, 2020. Its 52-week high is at Rs 755.
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Subex Ltd. | The stock has risen 141 percent to Rs 68.60 as on July 5, 2021, from Rs 28.45 on December 31, 2020. Its 52-week high is at Rs 69.
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eClerx Services Ltd. | The stock has risen 139 percent to Rs 2114.70 as on July 5, 2021, from Rs 883.65 on December 31, 2020. Its 52-week high is at Rs 2135.
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Tata Elxsi Ltd. | The stock has risen 139 percent to Rs 4376.90 as on July 5, 2021, from Rs 1832.85 on December 31, 2020. Its 52-week high is at Rs 4500.
Intellect Design Arena Ltd. | The stock has risen 130 percent to Rs 723.90 as on July 5, 2021, from Rs 314.75 on December 31, 2020. Its 52-week high is at Rs 848.
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Hinduja Global Solutions Ltd. | The stock has risen 121 percent to Rs 2500.05 as on July 5, 2021, from Rs 1128.90 on December 31, 2020. Its 52-week high is at Rs 2729.
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Mastek Ltd. | The stock has risen 101 percent to Rs 2292.30 as on July 5, 2021, from Rs 1140.90 on December 31, 2020. Its 52-week high is at Rs 2360.
![The top 10 stocks from the sector have witnessed a reasonably good performance. Stocks like Infosys, Wipro, and Mindtree have gained over 25 percent each and the rest have seen at least double-digit returns, except HCL Technologies which rose only 4 percent. Nirmal Bang said in a research report: We maintain a ‘neutral’ stance on the sector with a modestly positive bias and have ‘Buy’ ratings on HCL Technologies and Tech Mahindra. We have an ‘accumulate’ rating on TCS, Infosys, and Wipro among the large caps and Persistent Systems among the mid-caps. Mindtree, which has seen an upsurge of 54 percent this year, was the only ‘Sell’ rated stock with a downward target of Rs 2,226 in Nirmal Bang coverage IT stocks. "The worrisome part (about MindTree) has been the tepid order inflow number – 12 percent on a TTM basis - which we believe will come in the way of faster revenue growth in the days ahead," the report stated.](https://images.moneycontrol.com/static-mcnews/2021/07/Top-IT-0607_001_ITstocks.jpg "The top 10 stocks from the sector have witnessed a reasonably good performance. Stocks like Infosys, Wipro, and Mindtree have gained over 25 percent each and the rest have seen at least double-digit returns, except HCL Technologies which rose only 4 percent. Nirmal Bang said in a research report: We maintain a ‘neutral’ stance on the sector with a modestly positive bias and have ‘Buy’ ratings on HCL Technologies and Tech Mahindra. We have an ‘accumulate’ rating on TCS, Infosys, and Wipro among the large caps and Persistent Systems among the mid-caps. Mindtree, which has seen an upsurge of 54 percent this year, was the only ‘Sell’ rated stock with a downward target of Rs 2,226 in Nirmal Bang coverage IT stocks. "The worrisome part (about MindTree) has been the tepid order inflow number – 12 percent on a TTM basis - which we believe will come in the way of faster revenue growth in the days ahead," the report stated.")
