Abstract
The Information Technology sector is central to the nation’s security, economy and public health. It is one of the fastest growing sectors in Indian Stock Market. This paper evaluated the performance of companies listed in Nifty IT index with an objective to find out the significance level of each company with Nifty IT index with the help of paired sample T-test. The study covered five years starting from 1s January 2017 to 31 December 2021. Mean returns and standard deviation is calculated to analyze and compare the risk return characteristics of the companies listed in Nifty IT index. Correlation is also calculated to know the relationship of each company with Nifty IT index. The result of the study revealed that L&T Infotech, Mindtree, Mphasis, Coforge and TCS are statistically significant. HCLTech, Infosys, Tech Mahindra, Wipro and L&T Services are not statistically significant. This paper has suggested the investors to invest in those companies which are in consistent with the broader indices. Large cap companies are safe to invest than compared to mid and small cap companies.
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