Bang On Bourse When IT’s Hot

When all lines went off, online came into play, more overwhelmingly than ever. That was the reality the first bout of the pandemic had unleashed last year. As online became the lifeline for most part of the world, the IT sector made a sudden surge to make the best use of the adversity. The virtual world took over when the real world stood motionless. The surge in the IT industry has fuelled a rally in IT company stocks and the S&P BSE IT Index doubled from 12,224 points to 28,385 points between two consecutive Aprils. “In relative terms, the rise (in the IT Index) is in line with the main indices, with the Nifty doubling from 7500 points to 15000 points in the same period,” says Kishor Ostwal, Chairman and Managing Director of CNI Research, who feels that the sector has the potential for a further 25 per cent appreciation in the next 12 months. The second wave of the...