Blue Chip IT Stocks to look out for in 2023
Blue chip stocks are usually those in India that are well-established and come from financially stable organizations that have a long record of giving strong financial performances over the years. Because of this, stocks are also less prone to such fluctuations and they are considered to be less risky as compared to others. Blue chip stocks are considered to be reliable and stable investments in the market and so if you are looking to invest in them, do check out this list down below.
Infosys is focused on digital and consultancy services across various sectors and segments like energy, manufacturing, healthcare, telecom, etc. Their platforms and products include Skava, Finacle, Panaya, and LEAP. The profit here is approximately 22,110 core and their revenue is 1,21,641 crores in the financial year 2022. Considering them for stock investment is a good idea because it can give you good returns if you stay invested. The Infosys share price right now is 1480.90
One of the biggest commercial banks that offer both retail banking and wholesale like credit cards, debit cards, etc. They also make a revenue of 1,67,695 crore and a profit of 38,053 crores. Given the dividend yield of 0.96%, you can surely consider investing in this stock as it makes a smart investment option. Its share price is right now 1615.20.
Being one of the biggest FMCG businesses across India that produce water purifiers, deodorants, talcum powders, beverages, and food, one can consider investing in this as its profit crosses 9,000 crores approx. Some of its famous brands include Kissan, Bru, Knorr, Vaseline, Lakme, etc. Given that its percentage increase in revenue is 11.52%, you totally add it to your list of considerations. Its share price right now is 2470.90.
Tata Consultancy Services
Definitely one of the respected companies across the world that employ a huge number of graduates and employees, Tata Consultancy Services includes financial and digital services like healthcare, consumer retail, manufacturing, etc. It has also performed on many well-known platforms. With its average revenue of 1,91,754 and profit of ₹ 38,327 cr, the percentage increase in revenue is 16.79%. In other words, it’s a great place to invest.
Blue chip stocks consist of a large percentage of the company’s value. Since the financial world has high value for them, their market capitalization can be seen as a testament to the confidence of investors. However, the previously mentioned stocks are not the only ones you should consider. You should also take a look at Wipro’s share price and the prices of others before you come to a conclusion. However, make sure that you don’t immediately jump into something because it looks attractive and appealing. Consider an expert, and do some analysis, take a look at their past performances on your own before you make your final pick.