The Indian markets have shown huge volatility in the past few months, and it went from near its 52-week low to near its 52-week high in a few weeks. Almost all the sectors have shown a rapid recovery or a strong reversal from the downtrend of early this year except for the IT sector.
The fall of the IT sector this year is one of the sharpest falls IT stocks have seen since their inception. Here is a list of 4 Nifty stocks trading near their 52-week lows.
Infosys Ltd is a company of Nifty, providing technology, consulting, next-generation digital services, and outsourcing services to its clients worldwide. Infosys is India’s second largest technology company after TCS in market capitalization and business.
Infosys is a large-cap company with over Rs. 578 408 Crores market capitalization. The stock’s current market price is 1,375, around 29.7%, down from its 52-week high. The 52-week low price of the stock is Rs. 1,367, and it is currently trading very near to its 52-week low.
Tata Consultancy Services (TCS) Ltd.
This data company is one of the largest technology companies in India in terms of business and market capitalization. The company is engaged in providing IT services, business, and consulting solutions and has been partnering with leading businesses worldwide for over 5 decades.
Tata Consultancy Services Ltd. is a part of the Nifty 50 Index of the Indian market. The company has a market capitalization of over Rs. 1,101,521 Crores. The stock’s current market price is Rs. 3,010, and the stock price is around 25.6%, down from its 52-week high. The stock made a 52-week low of Rs. 2,953 and is trading nearly at its 52-time low.
HCL Technologies Ltd.
One of the top five Indian IT services businesses in terms of revenue is HCL Technologies, a well-known international provider of IT services. HCL Tech has focused on transformational outsourcing since it entered the global market following its IPO in 1999. It offers an integrated portfolio of services, including engineering and R&D services, software-led IT solutions, remote infrastructure management, and BPO. The company offers multi-service delivery in important industry verticals by utilizing its broad network of offices in 46 countries and global offshore infrastructure.
The company is a part of the Nifty-50 and has a market capitalization of over Rs. 244,976 Crores. The stock price has been soaring from the starting months of the year. The current market price of HCL technologies is Rs. 903. The price is around 34.5% down from its 52-week highs, and the stock is trading near its 52-week low of Rs. 876.
Tech Mahindra Ltd.
Tech Mahindra Ltd. is an Information technology company that is a part of Nifty 50. The company provides services to a diverse network of corporate clients in numerous industries. It offers a full spectrum of IT services, including application development and maintenance, IT-enabled service, consulting, and enterprise business solutions.
HCL Technologies Ltd. is a large-cap company with a market capitalization of Rs. 103,603 Crores. The current market price of the stock is Rs. 1,065. The stock made a 52-week high of Rs. 1,893 and a 52-week low of Rs. 944. The stock price is down by around 42.1% from its 52-week high currently.