IT stocks are a great option for both short and long term.
The September quarter results have started. The result of the country’s largest IT company TCS came on Friday, 8 October and it was spectacular. The results of HCL, Infosys and Mindtree will come this week. Due to the Corona epidemic, there has been a significant jump in the revenue of tech companies. IT stocks were a major contributor to the stock market’s rally last week. In such a situation, if you are planning to invest in the stock market, then IT stocks are a great option for both short and long term.
Technology companies are seeing a boom in demand. When the results of TCS came out, the CEO of the company had said that this is an opportunity like Once in Decade for IT companies. There has been a jump of more than 200 percent in Nifty IT compared to the low of March 2020, while Nifty 50 has registered a growth of about 134 percent. IT index has performed better than other Nifty stock indices like Banks, FMCG, Auto, Pharma.
Buying advice in these stocks
In view of the excellent outlook, ICICI Securities has advised investors to buy in some IT stocks. He says that for both medium and long term, IT stock is a safe haven for investment where returns will also be good. ICICI Brokerage has given buy advice on TCS, Infosys, Tech Mahindra, LTI (Larsen & Toubro Infotech) and Persistent Systems.
when will the result come
Apart from this, it has also upgraded the ratings from hold to buy for Wipro, HCL, Mphasis and Coforge. This week on October 13, the results of Mindtree and Infosys will be out. HCL result is going to come on 14th October.
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(Disclaimer: Investing in the stock market is risky, so please consult your financial experts before investing.)