Introducing Digital India Stocks: One of the greatest wealth creators in the stock market has been technologically-driven digital stocks. The companies working in Digital India (and digital world) segment have been the darlings of the investors because of their tech advancement and future growth scope.
Today, we take a look at Digital India Stocks and the top companies that fall into this theme.
What is Digital India?
Digital India is a campaign launched by the Government of India in order to ensure improved online infrastructure by increasing Internet connectivity. The government has put forward plans to connect rural areas with high-speed internet networks. Empowering citizens with access to digital services and information can emerge as one of the biggest drivers of economic growth.
The government has rightly identified this sector in order to bring greater focus to this sector. The initiatives include enhancing digital infrastructure, increasing digital literacy, providing a sustainable living environment in urban areas through the use of technology, and building smart cities.
How well was the Digital India Initiative?
When Digital India Week was launched by Prime Minister Narendra Modi in Delhi on 1 July 2015, top CEOs from India and abroad committed themselves to invest US$3.1 trillion towards this initiative. These investments would be directed toward making smartphones and internet devices at affordable prices in India.
Such initiatives would lead to greater job generation in India and also reduce the cost of products. The program has been favored by multiple countries including the US, Japan, South Korea, the UK, Canada, Australia, Malaysia, Singapore, Uzbekistan, and Vietnam.
After the launch of the initiative, Indian firms got $7.4 billion in the nine months into 2017 in comparison to $4.5 billion in 2016. India is now adding 10 million daily active internet users monthly. This is the highest rate of addiction to the Internet community anywhere in the world. The Ministry of Communications & IT also revealed that Digital India was now a $1-trillion business opportunity.
Digital India Stocks – Top Companies
Below are some of the companies that fall within the Digital India Stocks Theme. The table includes companies name along with the market cap and respective industry.
| # | COMPANY Name | MARKETCAP | INDUSTRY |
|---|---|---|---|
| 1 | Infosys Ltd. | 590,485 | IT - Software |
| 2 | Reliance Industries Ltd. | 15,73,455 Cr | Telecom/Refineries |
| 3 | Zee Entertainment Enterprises Ltd. | 20,555 Cr | TV Broadcasting & Software Production |
| 4 | Honeywell Automation India Ltd. | 32,662 Cr | Consumer Durables - Electronics |
| 5 | Mphasis Ltd. | 34,232 Cr | IT - Software |
| 6 | HCL Technologies Ltd. | 301,488 Cr | IT - Software |
| 7 | Bharti Airtel Ltd. | 455,487 Cr | Telecommunication - Service Provider |
| 8 | Tata Consultancy Services Ltd. | 11,84,361 Cr | IT - Software |
| 9 | Sun TV Network Ltd. | 16,575 Cr | TV Broadcasting & Software Production |
| 10 | Tech Mahindra Ltd. | 107,487 Cr | IT - Software |
| 11 | Info Edge (India) Ltd. | 48,289 Cr | BPO/ITeS |
| 12 | Quess Corp Ltd. | 5,605 Cr | Miscellaneous |
| 13 | Indiamart Intermesh Ltd. | 15,476 Cr | e-Commerce |
Important Note: If you want to look into many such thematic stocks like Housing India, Electric Vehicle India Stocks, Infrastructure India, etc, you can go to Trade Brains Portal – BUCKETS. Here, you can find an organized selection of stocks, categorized especially for you.
Closing Thoughts
Digital India Stocks are technologically driven and hence have been one of the biggest saviors in times of the pandemic. The current situation has also led to an increased usage of products from such companies.
This also means a change in our behaviors post the pandemic with regard to acceptance and dependence on such products. Selecting stocks that have the ability to weather the storm provides investors with the opportunity to take part in the growth of these stocks.
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