Top 3 IT Stocks of 2023 with 74%-84% Price Gains

Top 3 IT Stocks of 2023 with 74%-84% YTD Price Gains on NSE

The year began with slow start in the Indian capital markets as most of the stocks were suffering from uncertainty till the first quarter of the year. As most of the market remained subdued till the end of march, there was hardly any growth witnessed. But in the second quarter as India emerged as the pillar for economic growth in the world arena, markets started turnaround.

But the projected slowdown in the global economy especially in the developed world of Europe and USA impacted the IT Stocks in not so positive manner as major stocks such as INFY, WIPRO, & TCS continued to witness decline due to growth apprehensions.

Midcap IT stocks emerged as the growth drivers of IT segment as investors started lapping up the stocks with projected growth.

Three IT Stocks have continuously outperformed Nifty and Indian capital markets with stupendous price gains in 2023. These three stocks so far are the best price performers of 2023 in the IT services segments. All of these stocks are part of Nifty500 index.

Cyient Ltd (NSE: CYIENT) topped the list with 84% price gains as on June YTD followed by Zensar Technologies(NSE: ZENSARTECH) with 80% price gains. Third position was occupied by Sonata Software (NSE: SONATSOFTW) with 74% price gains.

CYIENT performed well in 2nd Quarter with 51% price gains and ended month of June with stock price rise of 9%. ZENSARTECH also performed well in 2nd Quarter with 40% price gains. Sonata Software on the other hand witnessed softening in 2nd Quarter and June month.

Table: Top IT Stocks of 2023

Stock Symbol Index YTD 2nd QTR June Closing Price 30 June
CYIENT Nifty500 84% 51% 9% 1,500.70
ZENSARTECH Nifty500 80% 40% 0% 387
SONATSOFTW Nifty500 74% 18% 2% 1,009.50

Read the Complete list of Top 10 IT Stocks with YTD, Quarterly & Monthly price performance.

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