Top 10 Indian IT Stocks to Watch in 2024 | Market Analysis

The Information Technology (IT) sector is one amongst the top sectors that are contributing to India’s growth. 

It contributed 8% share to the national GDP in 2020, up from 1.2% in 1998, according to data released by The National Association of Software and Service Companies (NASSCOM). 

In this article, we will discuss the top 10 IT stocks in India based on market capitalization. 

We will discuss the beginnings of the companies, their current stories and why they are amongst the most prominent IT companies in India. 

Note: The list has been prepared in the descending order of market capitalisation. This is not an advice that market capitalisation should be considered foremost for investing in stocks. This content was last updated on November 24, 2021. 

Here’s the list of top IT stocks in India: 

 

Tata Consultancy Services (TCS) 

TCS is one of the most valuable IT companies worldwide in terms of market capitalisation. 

A subsidiary of the Tata Group, TCS has its 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. 

To know more about the company, click here: TCS

 

Infosys

Second on our list of top IT stocks 2021 is Infosys Ltd. Infosys, headquartered in Bangalore, is an Indian multinational corporation that provides IT service, outsourcing service 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 business, Infosys became the fourth Indian company to cross $100 billion in market capitalization.

To know more about the company, click here: Infosys

 

Wipro

Wipro was incorporated in 1945 in Amalner, Maharashtra, by Mohamed Premji. 

Mohamed Premji had 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. 

To know more about the company, click here: Wipro

 

HCL Tech

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. 

To know more about the company, click here: HCL Tech

 

Tech Mahindra

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. 

To know more about the company, click here: Tech Mahindra

 

LTI

L&T Infotech was incorporated in December 1996. The company rebranded itself as ‘LTI’ in May 2017. 

It is a subsidiary of Larsen & Toubro. 

To know more about the company, click here: LTI

 

Mindtree

Mindtree, like LTI, 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. 

To know more about the company, click here: Mindtree

 

Info Edge

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.

To know more about the company, click here: Info Edge

 

Mphasis

Mphasis was started 23 years ago by Jerry Rao and Jeroen Tas. 

It now has over 60 sales and delivery centers in 19 countries with its headquarters in Bangalore, India. 

To know more about the company, click here: Mphasis

 

Tata Elxsi

Tata Elxsi was started on 5th May, 1989 in Bangalore.

It is now known as a premium engineering service provider worldwide and has over 7,000 employees.

To know more about the company, click here: Tata Elxsi 

This was the list of top 10 IT stocks in India. We hope you found the content informational and insightful.  

Happy Investing!

Disclaimer: The content presented here is only for educational and informational purposes. It is not intended to be advice on what to buy or sell. 

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