Last Quarter Indian capital markets witnessed hectic buying which resulted in stocks markets shattering all previous records. During this period a few of Nifty Index stocks have delivered stupendous returns of over 60% compared to 10% jump in the index.
Of these ten stocks four each were from Nifty250 & Nifty500 and remaining two from Nifty50 index. Ironically none of the top tier IT services companies made it to the list of top ten.
MindTree Ltd (NSE: MINDTREE) was the topmost IT services stock with 63% price gains during the last quarter. Its stocks price rose to Rs 4,200 from Rs 2,581. L&T Technology Services (NSE: LTTS) came second with 62% price returns during last three month. LTTS along with MINDTREE were the only two stocks in the list that delivered price gains over 60%.
Zensar technologies (NSE: ZENSARTECH) was the third topmost performer with 47% price returns during the period. Larsen & Toubro Infotech (NSE: LTI) was another L&T entity in the top ten list. LTI delivered 44% price returns during this period. Mphasis Ltd (NSE: MPHASIS) and Mastek Ltd (NSE: MASTEK) were the remaining companies that delivered over 40% price returns during last quarter. MPHASIS delivered 43% price returns and MASTEK stock gained 40% during the same period.
Tata Exlsi (NSE: TATAEXLSI) delivered 32% price gains as its stock price moved from Rs 4,243 to Rs 5,594 between July and September. HCL Technologies (NSE: HCLTECH) stock gained 30% during this period. NIIT Ltd (NSE: NIITLTD) and Tech Mahindra (NSE: TECHM) were at the bottom of the list. NIITLTD delivered 28% returns and TECHM delivered 27% price returns.