Stock to buy for short-term: Multibagger IT stock on cusp of breakout. Do you own?

Stock to buy for short-term: Multibagger IT stock Dev Information Technology Ltd is on the cusp of a technical breakout.

Dev IT share price movement and Multibagger returns

The Dev Information Technology share price opened at ₹176 on the BSE on Thursday, about 3.5% higher than the previous close of ₹170.20 . The Dev Information Technology share price after hitting lows of ₹94.10 in March 2024 has been rising ever since and inching towards 1 year or 52 week highs of ₹191

DEVIT share price having risen almost 3 folds from close to ₹60 levels it traded in January 2022 has given Multibagger returns to investors

Fundamental reasons for a rally

The current rally in the Indian IT companies can be attributed to three primary reasons: strong Q3 results 2025 by the Indian IT majors (TCS, Wipro), strong Q3 results announcement by Coforge and Persistent System on Wednesday, and the positive sentiment surrounding the Indian IT and pharma companies remaining insulated from Donald Trump's protectionist tariff policy, said Prashanth Tapse, Sr VP — Research at Mehta Equities.

After strong Q3FY25 results by the large-cap Indian IT majors (TCS, Wipro, HCL Tech and Infosys), Coforge and Persistent Systems declared strong Q3 results 2025 on Wednesday. This as per Tapse has triggered buying in the IT space. Regarding Donald Trump's protectionist tariff policy, the market expects that Indian IT and pharma companies may remain insulated from this trade war as the Indian government has already dropped signals to cooperate with the US government on its tariff policy.

Technical break out

Dev IT shares are on the cusp of giving a fresh breakout at ₹177. Breaking above this hurdle on a closing basis would mean a strong upside in the short term, said Anshul Jain, Head of Research at Lakshmishree Investment and Securities. So, as per Jain shareholders of the Multibagger IT stock are advised to hold the stock for a short-term target of ₹220 apiece. However, they must maintain a trailing stop loss of ₹160. Fresh investors can also buy the IT stock, initiating momentum buying at the current market price for the above-mentioned short-term target of ₹220, maintaining a strict stop loss at ₹160, said Jain

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.