Indian IT earns mostly in dollars and spends mostly in rupees - so every stock here is a joint bet on US corporate tech budgets and the USD-INR rate. Tier-1 giants (TCS, Infosys, HCL Tech, Wipro, Tech Mahindra) offer stability and dividends; mid-caps (Persistent, Coforge) offer growth at richer multiples.
The cycle turns on three data points: large-deal TCV, BFSI commentary and attrition. Screen on those plus margins, and never buy IT for dividend yield alone when growth stalls.
Stocks in this collection
Prices move every second, so instead of a stale price table, here is the membership list with why each stock belongs. Add them to a watchlist to see live prices, sparklines and P/E ratios.
| Ticker | Exchange | Company | Why it belongs |
|---|---|---|---|
| TCS | NSE / BSE | Tata Consultancy Services | The anchor; watch deal TCV and BSNL-ramp effects on growth. |
| INFY | NSE / BSE | Infosys | Large-deal engine; watch guidance revisions and margin levers. |
| HCLTECH | NSE / BSE | HCL Technologies | Services plus software; watch product revenue and dividend consistency. |
| WIPRO | NSE / BSE | Wipro | Turnaround under new leadership; watch BFSI recovery and consulting growth. |
| TECHM | NSE / BSE | Tech Mahindra | Telecom-heavy; watch margin-expansion milestones. |
| PERSISTENT | NSE / BSE | Persistent Systems | High-growth mid-cap; watch whether growth justifies the premium multiple. |
| COFORGE | NSE / BSE | Coforge | BFSI and travel verticals; watch deal concentration andSwitcher attrition. |
How to screen IT stocks yourself
- Large-deal TCV growing year-on-year - the forward order book of IT services.
- EBIT margin defended (tier-1: 20%+, mid-cap: 14%+) - pricing power shows up here first.
- Attrition stabilising under 15% - spiking attrition means wage pressure and delivery risk.
- BFSI commentary improving - banks are the biggest spenders; their budgets lead sector revenue by quarters.
- Free-cash-flow conversion near 100% - IT should convert profits to cash; if not, ask why.
Risks to watch
- Buying US-recession dips too early. IT underperforms for quarters after US slowdown signals - wait for deal-win confirmation.
- Paying 50x for mid-cap growth that slows. Mid-cap IT premiums evaporate the quarter growth converges to tier-1 levels.
- Ignoring currency. A sharp rupee rally can erase a quarter's operational gains.
Frequently asked questions
Why do IT stocks fall when US markets fall?
Roughly 60%+ of revenue comes from the US. Recession fears mean budget cuts, delayed deals and pricing pressure - the stocks price that chain instantly.
TCS vs Infosys - which is better?
TCS for consistency and buybacks, Infosys for large-deal momentum. Compare TCV, margin trajectory and capital return rather than stock tips.
Are IT stocks good for dividends?
Tier-1 IT pays generously (HCL Tech, TCS, Infosys all return cash), but buy them for total return - dividends alone cannot offset a growth downgrade.
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P/E Ratio
Price-to-earnings: what you pay for each rupee or dollar of yearly profit. The starting lens for cheap vs expensive.
ROE
Return on equity: profit earned per rupee of shareholder money. High and stable ROE compounds wealth.
Market Cap
Price times shares outstanding: the market's price tag for the whole company. Defines large, mid and small caps.
52-Week High / Low
A stock's highest and lowest price over the past year. Breakouts signal strength; breakdowns signal trouble - both demand volume proof.
Fed to FII: How US Rates Drive Indian Small & Mid-Caps
Fed at 3.75-4.00%, US 10Y above 5.10%, Rs 2.45 lakh crore of FPI outflows. The three transmission channels - yields, currency, crude - and the screening overlay for small-caps in risk-off regimes.
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US 1.5% real vs 8% nominal growth, Fed heading to 4.25%, recession odds debated. Five rebalancing levers - quality screens, duration barbell, export hedge, IPO selectivity, cash calendar.
For education only, not financial advice. Membership lists change with corporate actions and index reviews — verify tickers before investing.