The landscape of tech stocks is a testament to human ingenuity and the relentless pursuit of progress. With each passing day, reading stock charts shows that the IT sector is experiencing a significant surge in innovation and advancement, driving the growth of technology stocks to new heights.
As investors and enthusiasts explore the intricate world of IT stocks, it is becoming increasingly important to understand the underlying dynamics that may make tech stocks an investment opportunity.
Why Tech Stocks?
From the titans that have stood the test of time to the fledgling startups bursting onto the scene, tech stocks encompass an array of enterprises that are actively sculpting our collective future. Tech stocks are not just in their potential for rapid growth and expansion but also in their capacity to revolutionize the way we live and work.
The Strategic Diversification with Tech Stocks
Investing in tech stocks is more than a financial decision; it’s a strategic move towards portfolio diversification. With a mix of companies falling under the umbrella of IT stocks, tech stocks offer investors a window into many sub-sectors. These include cutting-edge software services, forward-thinking IT consulting, and the ever-essential hardware components.
A Curated List of Tech Stocks
Among the tech stocks, a few names resonate with stability and growth. This tech stocks list is made of businesses displaying consistent performance and resilience, solidifying their positions as the go-to choices for many investors. Companies like Infosys, TCS, and Wipro are not just businesses; they are beacons of innovation that continue to lead the charge in the IT sector. Here’s a closer look at some tech stocks:
- Tata Consultancy Services (TCS): This tech stock giant exhibits a strong presence in the IT services and consulting sector. As of 20 April 2024, the tech stock opened at ₹3,838.00, with a trading volume of 29,57,749 shares and a market cap of ₹13,85,084 Cr. The day’s high and low were ₹3,852.55 and ₹3,800.90, respectively, showcasing the tech stock’s stability with a beta of 0.82.
Financially, TCS, as a tech stock, reported a debt-free status with a debt-to-equity ratio. Its operating revenue and net profit in FY24 are at ₹240,893 Cr. and ₹46,099 Cr., respectively.
As of 20th April, The tech stock’s PE ratio stood at 30.79, and the PB ratio was 15.54, indicating a premium valuation reflective of its market leadership. The dividend yield of 1.91% further solidifies TCS’s position as a lucrative tech stock for investors seeking steady returns.
| All-Time High | Value |
| Open | ₹3,838.00 |
| Previous Close | ₹3,862.00 |
| Volume | 29,57,749 |
| Value (Lacs) | ₹1,13,169.39 |
| VWAP | ₹3,827.74 |
| Beta | 0.82 |
| Mkt Cap (Rs. Cr.) | ₹13,85,084 |
| High | ₹3,852.55 |
| Low | ₹3,800.90 |
| UC Limit | ₹4,248.20 |
| LC Limit | ₹3,475.80 |
| 52 Week High | ₹4,254.75 |
| 52 Week Low | ₹3,005.00 |
| Face Value | ₹1 |
| All Time High | ₹4,254.75 |
| All Time Low | ₹103.84 |
| 20D Avg Volume | 33,59,572 |
| 20D Avg Delivery(%) | – |
| Book Value Per Share | ₹245.54 |
| Dividend Yield | 1.91% |
| Revenue 2024 | ₹240,893 Cr. |
| Net Profit 2024 | ₹46,099 Cr. |
| Debt to Equity | 0 |
| PE ratio March 2024 | 30.79 |
| PB ratio March 2024 | 15.54 |
- Infosys Limited (INFY) is a prominent tech stock acclaimed for its cutting-edge technology solutions and services. On 20th April 2024, the tech stock opened at ₹1,385.00, with a volume of 2,06,03,621 shares traded, leading to a market cap of ₹5,85,791 Cr. The tech stock’s trading range for the day was ₹1,426.85 to ₹1,378.75, and it displayed a beta of 1.13, indicating slightly higher volatility than the market.
From a financial standpoint, INFY, as a tech stock, showcased a debt-free balance sheet with a debt-to-equity ratio of 0. The tech stock generated operating revenue of ₹153,670 Cr. and a net profit of ₹26,248 Cr. in FY2024.
As of 20th April 2024, the PE ratio for this tech stock was 23.63, and the PB ratio stood at 7.05, suggesting a reasonable valuation in the tech sector. Additionally, the tech stock offered a dividend yield of 2.41%, making it an attractive option for income-focused investors.
| Metric | All-Time High |
| Open | ₹1,385.00 |
| Previous Close | ₹1,419.25 |
| Volume | 2,06,03,621 |
| Value (Lacs) | ₹2,90,768.60 |
| VWAP | ₹1,400.77 |
| Beta | 1.13 |
| Mkt Cap (Rs. Cr.) | ₹5,85,791 |
| High | ₹1,426.85 |
| Low | ₹1,378.75 |
| UC Limit | ₹1,561.15 |
| LC Limit | ₹1,277.35 |
| 52 Week High | ₹1,733.00 |
| 52 Week Low | ₹1,185.30 |
| Face Value | ₹5 |
| All Time High | ₹1,953.90 |
| All Time Low | ₹33.05 |
| 20D Avg Volume | 1,03,19,978 |
| 20D Avg Delivery(%) | – |
| Book Value Per Share | ₹180.01 |
| Dividend Yield | 2.41% |
| Revenue 2024 | ₹153,670 Cr. |
| Net Profit 2024 | ₹26,248 Cr. |
| Debt to Equity | 0 |
| PE ratio March 2024 | 23.63 |
| PB ratio March 2024 | 7.05 |
- Wipro Ltd. (WIPRO): Wipro Ltd. is a leading tech stock in the IT, consulting, and business process services sector, opened at ₹440.00 on 20th April 2024. The volume of shares traded was 1,02,35,053, with a market cap of ₹2,36,569 Cr., indicating its substantial size in the tech industry. The tech stock’s beta of 1.29 suggests a higher market volatility.
Financially, Wipro, a tech stock, reported revenues of ₹89,760 Cr. and a net profit of ₹11,135 Cr. for FY2024. The debt-to-equity ratio was a low 0.19, showing minimal debt reliance.
As of 20 April 2024, Wipro’s PE ratio was 22.98, and the PB ratio was 3.37. Despite a modest dividend yield of 0.22%, Wipro remains a key player among tech stocks, with strong performance and growth potential.
| Metric | All-Time High |
| Open | ₹440.00 |
| Previous Close | ₹444.35 |
| Volume | 1,02,35,053 |
| Value (Lacs) | ₹46,339.20 |
| VWAP | ₹446.76 |
| Beta | 1.29 |
| Mkt Cap (Rs. Cr.) | ₹2,36,569 |
| High | ₹453.90 |
| Low | ₹437.00 |
| UC Limit | ₹488.75 |
| LC Limit | ₹399.95 |
| 52 Week High | ₹545.90 |
| 52 Week Low | ₹352.00 |
| Face Value | ₹2 |
| All Time High | ₹739.85 |
| All Time Low | ₹28.47 |
| 20D Avg Volume | 74,49,635 |
| 20D Avg Delivery(%) | – |
| Book Value Per Share | ₹119.39 |
| Dividend Yield | 0.22% |
| Revenue 2024 | ₹89,760 Cr. |
| Net Profit 2024 | ₹11,135 Cr. |
| Debt to Equity | 0.19 |
| PE ratio March 2024 | 22.98 |
| PB ratio March 2024 | 3.37 |
- HCL Technologies (HCLTECH), a tech stock at the forefront of technology services and digital applications, opened at ₹1,442.00 on 20 April 2024. The trading volume stood at 52,19,506 shares, and the market cap was ₹3,92,803 Cr., reflecting its significant stature in the tech sector. The tech stock’s beta of 0.91 points to a stable investment with less volatility than the market.
Financially, HCLTECH, a tech stock, demonstrated a strong performance, with revenue of ₹101,456 Cr. and a net profit of ₹14,845 Cr. for FY2023. The tech stock maintained minimal debt, with a debt-to-equity ratio of 0.03.
As of 20th April 2024, the PE ratio was 19.79, and the PB ratio was 4.51, indicating a solid valuation for the tech stock. A notable dividend yield of 3.32% positions HCLTECH as an attractive tech stock for investors seeking growth with a healthy dividend income.
| Metric | All-Time High |
| Open | ₹1,442.00 |
| Previous Close | ₹1,466.85 |
| Volume | 52,19,506 |
| Value (Lacs) | ₹75,552.35 |
| VWAP | ₹1,446.26 |
| Beta | 0.91 |
| Mkt Cap (Rs. Cr.) | ₹3,92,803 |
| High | ₹1,455.50 |
| Low | ₹1,435.00 |
| UC Limit | ₹1,613.50 |
| LC Limit | ₹1,320.20 |
| 52 Week High | ₹1,697.35 |
| 52 Week Low | ₹1,016.25 |
| Face Value | ₹2 |
| All Time High | ₹1,697.35 |
| All Time Low | ₹12.90 |
| 20D Avg Volume | 32,68,437 |
| 20D Avg Delivery(%) | – |
| Book Value Per Share | ₹228.49 |
| Dividend Yield | 3.32% |
| Revenue 2024 | ₹101,456 Cr. |
| Net Profit 2024 | ₹14,845 Cr. |
| Debt to Equity | 0.03 |
| PE ratio March 2024 | 19.79 |
| PB ratio March 2024 | 4.51 |
- Tech Mahindra (TECHM): Tech Mahindra is known for its expertise in digital transformation, consulting, and business re-engineering, opened at ₹1,163.05 on 20th April 2024. The trading volume was 25,72,144 shares, and the market cap reached ₹1,16,590 Cr., marking its influence in the tech sector. The tech stock’s beta of 1.23 indicates a moderate level of market volatility.
Financially, TECHM, as a tech stock, posted a revenue of ₹53,290 Cr. and a net profit of ₹4,886 Cr. for FY2023. The tech stock shows minimal debt reliance with a debt-to-equity ratio of just 0.06.
As of 20 April 2024, the PE ratio was 20.12, and the PB ratio was 3.47, suggesting a fair valuation for the tech stock. The dividend yield stood at a nice 4.19%, highlighting TECHM as a potentially rewarding tech stock for dividend-seeking investors.
| Metric | All-Time High |
| Open | ₹1,163.05 |
| Previous Close | ₹1,179.65 |
| Volume | 25,72,144 |
| Value (Lacs) | ₹30,702.40 |
| VWAP | ₹1,188.57 |
| Beta | 1.23 |
| Mkt Cap (Rs. Cr.) | ₹1,16,590 |
| High | ₹1,204.85 |
| Low | ₹1,162.95 |
| UC Limit | ₹1,297.60 |
| LC Limit | ₹1,061.70 |
| 52 Week High | ₹1,416.30 |
| 52 Week Low | ₹981.05 |
| Face Value | ₹5 |
| All Time High | ₹1,838.00 |
| All Time Low | ₹51.25 |
| 20D Avg Volume | 19,25,252 |
| 20D Avg Delivery(%) | – |
| Book Value Per Share | ₹261.27 |
| Dividend Yield | 4.19% |
| Revenue 2024 | ₹53,290 Cr. |
| Net Profit 2024 | ₹4,886 Cr. |
| Debt to Equity | 0.06 |
| PE ratio March 2024 | 20.12 |
| PB ratio March 2024 | 3.47 |
Why Are Tech Stocks Rising?
The ascent of tech stocks is fueled by a confluence of factors that are as diverse as they are impactful. Technological breakthroughs, the relentless pace of digital transformation, and the burgeoning demand for IT services merge to paint a bullish picture for tech stocks. This positive trajectory is not mere speculation but a well-charted course backed by data and trends.
The Risks and Rewards of Tech Stocks
Navigating the world of tech stocks can be a risky journey. The market is known for its unpredictability, and rapid technological changes can significantly impact the performance of tech stocks. However, tech stocks can offer substantial and rewarding returns for savvy investors who manage their portfolios wisely.
What’s Next In Tech Stocks?
In our increasingly interconnected world, technology stocks are expected to have a crucial role in shaping the global economy. They will help to bring progress and prosperity. With the help of a stock market advisor, you can make an informed decision to invest and share in the profits.
*Disclaimer Note: The securities quoted, if any, are for illustration only and are not recommendatory. This article is for education purposes only and shall not be considered as recommendation or investment advice by Research & Ranking. We will not be liable for any losses that may occur. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI, membership of BASL, and certification from NISM in no way guarantee the performance of the intermediary or provide any assurance of returns to investors.
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Are tech stocks overvalued?
The valuation of tech stocks is debated among investors and analysts. Some argue that certain tech stocks are undervalued, citing examples of industry leaders with strong market positions whose stocks are trading at low prices relative to their potential. Others believe the tech sector is overvalued, especially after recent rallies, and may be vulnerable to rate shocks. Analyzing each stock individually and considering broader market conditions when evaluating valuations is important.
How are tech stocks doing?
Tech stocks have shown resilience and growth despite market fluctuations. They have risen in all four of the Federal Reserve’s most recent tightening cycles. The AI revolution has buoyed the sector and recently outperformed other sectors. However, staying updated with current market trends is essential, as the situation can change rapidly.
How to Buy Tech Stocks?
You can buy tech stocks using a brokerage account or through tech mutual funds and ETFs. To start your investment journey, it’s advisable to research and choose a reputable online broker or trading app.
I’m Archana R. Chettiar, an experienced content creator with
an affinity for writing on personal finance and other financial content. I
love to write on equity investing, retirement, managing money, and more.
