Back5 IT stocks that have given multibagger returns this year
Multibagger stocks 2021: IT stocks emerged bull's favourite during the second wave of Covid-19
PremiumMultibagger stocks 2021: IT sector is one of those few sectors, which remained unaffected by the selloff heat of second wave of Covid-19. In fact, IT stocks emerged bull's favourite during the Covid-19 pressure. While NSE Nifty managed to register around 12 per cent gains in first six months of 2021, BSE IT index rose around 24 per cent in that period. In the first half of 2021, we witnessed a good number of stocks giving multibagger returns and IT stocks were major contributors in that list.
Here we list out 5 IT stocks that delivered multibagger return in 2021:
1] Subex Limited: This Bengaluru-based software company stock has jumped from ₹28.45 per stock mark to ₹71.95 (today's price at 1:05 PM) per stock levels in the year 2021 at NSE. That means the stock has delivered more than 150 per cent return to its shareholders in this period. Currently, market capitalisation of the company is around ₹3750 crore.
2] e-Clerx: This Mumbai and Pune based multinational IT company stock has surged from ₹883.30 per stock mark at NSE to ₹2,101 (today's price at 1:08 PM) per stock levels in 2021. That means the IT stock has delivered around 140 per cent returns to its share holders in mere six months time. Company’s Debt Equity ratio is zero that augurs sound balance sheet and sustained revenue generation of the company.
3] Happiest Minds Technologies: This IT share has been skyrocketing ever since it got listed at both NSE and BSE on 17th September 2020. In the year 2021 happiest Mind share price surged from ₹344.25 to ₹1,205.5 today (1:08 PM) at NSE. That means the stock has delivered around 250 per cent in the year 2021.
Happiest Minds average profit growth in the last three years is well above 140 per cent and its Return on Equity (ROE) is more than 55 per cent.
4] Brightcom Group: This digital marketing company's stock price has skyrocketed from ₹8.30 mark to ₹29.80 (today's price at NSE at 1:14 PM). That means the IT counter has delivered around 260 per cent return in the year 2021. Brightcom Group shares are highly overvalued as its PE ration is much higher at more than 175 per cent.
5] Newgen Software Technologies: This low code digital automation platform provider IT company stock price has scaled from ₹268.40 mark to ₹709.90 (today's price at NSE at 1:17 PM) at NSE. That means the It stock has delivered around 165 per cent return to its share holders in the year 2021. The stock seems overvalued as its PE ratio is much higher at around 43 per cent.
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