IT stocks gained almost 80% in a month 2023

On Friday, all indices traded in the green. The BSE Sensex Index was up 0.76 percent at the closing bell, standing at 61,112.44. The BSE Information Technology (IT) Index increased by 1.04 percent in one day and decreased by 0.14 percent over the course of one month.

The IT industry has become one of India’s most important growth drivers, contributing substantially to the country’s GDP and public welfare. In FY22, the IT industry contributed 7.40% of India’s GDP; by 2025, it is projected to contribute 10% of India’s GDP.

According to the National Association of Software and Service Companies (NASSCOM), the Indian IT industry’s revenue reached USD 227 billion in FY22, representing a year-over-year increase of 15.50 percent.

Gartner predicts that India’s IT expenditure will increase to USD 101.80 billion in 2022, up from an estimated USD 81.89 billion in 2021. By 2025, the Indian software product market is projected to reach $100 billion.

The following IT Sector securities gained more than 80% in a single month