IT Sector: Bouncing Back Stronger After Every Knock

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IT Sector: Bouncing Back Stronger After Every Knock
Bouncing Back Stronger After Every Knock
Kundan Kishore - 30 April 2023
Nifty IT Index gave 61% return in 2021 against 25.26 per cent by Nifty Sector is down by 15% and many companies are available at decent prices *** The Information Technology (IT) sector has seen many ups and downs, but every time, it has come back stronger. After a stellar run in the 1990s came the Y2K crisis, but the sector managed to reinvent itself. Eight years later, in 2008, it again received a drubbing during the Lehman Brothers crisis, but raised itself again. Once again, after a bumper run in the Covid period, the sector has hit a roadblock, but it is expected to re-emerge. IT is among India’s most vital sector—it employs millions and hauls in precious foreign exchange. In fact, the tech companies have been the cornerstone of India’s economic growth. Recent Roadblocks The Nifty IT index gave a stellar performance in 2020 and 2021, clocking 57.30 per cent and 60.98 per cent, respectively, compared to 16 per cent and 25.26 per cent by the broader Nifty. However, in 2022, the Nifty IT index underperformed all major indices and fell by 25.27 per cent following...
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