All the aforementioned shares have returned 60-120% in the corresponding period while the headline indices Sensex and Nifty have grown 5 to 6%. While, on the other hand, the benchmark Nifty IT index has advanced about 23% riding on the back of appreciation in blue-chip shares of Infosys and TCS.
We bring your attention to a mid-cap IT stock owned by the legendary investor Rakesh Jhunjhunwala. Surprisingly, this mid-cap IT share has also outperformed heavyweight industry peers TCS and Infosys in the last six months, as far as the returns are concerned.
Share prices of the Mumbai-headquartered IT service provider Firstsource Solutions have risen more than 100% in the last six months and interestingly, this stock has vastly outperformed as compared to the returns of TCS and Infosys shares. The stock of Firstsource Solutions has surged 106% to Rs 79.25 from a stock price of Rs 39.4 on NSE. In the similar time, stock returns of TCS and Infosys stood at 31% and 25%, respectively.
According to the latest data available with Bombay Stock Exchange (BSE) as at 31 March 2018, ace investor Rakesh Jhunjhunwala owns 2 crore equity shares or 2.91% of Firstsource Solutions. Notably, India’s second-largest private sector lender ICICI Bank also holds about 4.78% or 3.28 crore equity shares of Firstsource Solutions. Firstsource Solutions shares are falls under ‘A’ group of BSE and are a component of S&P BSE 500 and NSE 500 indices. Firstsource Solutions commands a market capitalisation of Rs 5,459 crore.
Firstsource Solutions is a business process management services firm which facilitates end to end customer lifecycle management across different industry verticals such as telecom and media, BFSI, healthcare.Last modified on Tuesday, 12 June 2018