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  1. 100% gain: This Rakesh Jhunjhunwala mid-cap IT stock outperformed TCS, Infosys; doubled money in 6 months

100% gain: This Rakesh Jhunjhunwala mid-cap IT stock outperformed TCS, Infosys; doubled money in 6 months

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.

By: | Published: June 12, 2018 12:46 PM
We bring your attention to a mid-cap IT stock owned by the legendary investor Rakesh Jhunjhunwala.

India’s stock markets have gone through the roller coaster ride in the last six months with many stocks going up with the breeze such as Merck, Indiabulls Ventures, HEG, Jubilant Foodworks. 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.

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