Invest in the Best Metaverse Stocks in India in 2023

In October 2021, Facebook took a bold step towards the future. It renamed its group from Facebook to Meta and announced it would be investing a whopping 10 billion US Dollars in its development.

But Facebook was not alone in this Metaverse bandwagon. Soon enough, leading tech giants like Google, Nvidia, Microsoft, and Apple started investing in this futuristic concept, making Metaverse a trending buzz.

With time, this trend found itself in other parts of the world, as Indian companies like Tech Mahindra also announced their ongoing projects on Metaverse.

But what exactly is Metaverse? Keep reading as we learn more about the Metaverse concept and find out the best Metaverse stocks available in India that you can invest in.

What is Metaverse?

Metaverse is a virtual environment that uses multiple technologies like augmented reality (AR) and virtual reality (VR) to develop a virtual world. Users create their digital avatars in Metaverse and indulge in virtual 3D experiences in real-time. To describe it in easy words, Metaverse is a developing virtual world where reality and imagination combine to create a space of virtual reality.

In this virtual universe, you can interact with other people, play games, join a work meeting, shop for new things, or even attend a learning session without leaving the comforts of your home. Since the concept of virtual reality is nascent, the possibilities can be endless.

Future of Metaverse

Tech companies have developed instruments like virtual reality glasses and wearable sensors, allowing you to step into VR and engage in fun activities. Every year, we see various new VR games and socialising platforms being released, increasing the hype of Metaverse even more.

But all this is just the tip of the iceberg. Tech giants are investing heavily in the development of Metaverse projects because a head start in this sphere can drastically change the digital landscape as we know it. Billion-dollar projects like Metaverse socialising platforms, Workrooms, VR shopping spaces, and many others are popping up.

According to a report by McKinsey, Metaverse has the potential to generate 4-5 Trillion US Dollars of revenue by 2030. This exponential growth has astonished leading tech companies and gained the attention of investors who want to catch this momentum before it’s too late.

Best Metaverse Stocks to Invest in India

The US markets are just one place to find Metaverse stocks. India, the fifth-largest economy and a thriving IT ecosystem, also has certain quality companies investing a lot of time and money into developing a robust Metaverse space.

We have curated a Metaverse stock list of leading companies listed in the Indian stock markets:

#1. TCS

When talking about the Indian tech giant, the first name generally comes up is Tata Consultancy Service (TCS). Leading the Indian IT space by an astounding market cap of 12.40 trillion INR (as of 26^th July 2023), TCS has surpassed global giants in revenue growth and share price gains.

TCS provides global IT services and is well-known for offering digitalised solutions to its clients in diverse sectors. It has also been making significant moves to capture the Metaverse craze.

TCS has been working on creating a virtual bank and an NFT marketplace with its unique blockchain technology. Furthermore, it has created a separate subsidiary, Avapresence, for working solely on VR-related projects. With solid fundamentals and a brilliant track record, TCS can be a good Metaverse stock.

#2. Reliance

Reliance Industries is the biggest company listed in the Indian stock markets, standing tall with a whopping 17.09 trillion INR (as of 26^th July 2023) market cap. This business giant has reached out to Indian and global consumers through every sphere of life possible, their most notable contribution coming from the subsidiary of Jio platforms.

The reason why most people think Reliance can make wonders as a Metaverse stock has to do with Jio Platforms. In the telecom sphere, Jio is a new leader, with a market share of 41.7% in Q4-2023. This overwhelming presence in India’s growing digital foothold and introduction of 5G networks can prove vital for generating extraordinary gains.

Moreover, it has also acquired a Silicon Valley start-up called Two Platforms. With expertise in immersive gaming, AI development and Metaverse, this acquisition could also hold the key to gaining dominance as an Indian Metaverse giant.

#3. Infosys

Infosys is the second-largest IT company in India, hosting a market cap of 5.58 trillion INR (as of 26^th July 2023). It is a well-known company that offers multiple advanced tech-related services like independent testing, outsourcing, and business consulting.

Infosys is one of the best Metaverse stocks to own as they invest heavily in providing AR/VR solutions in diverse sectors, especially retail, manufacturing, and education. This company has also devised a brilliant VR-based tech, allowing customers to virtually try various accessories and garments.

This Metaverse stock price is reasonable, and investors can decide to accumulate more at this price range for good returns in the future.

#4. Tech Mahindra

Yet another Indian IT and Consulting firm with a phenomenal market cap of 1.12 trillion INR (as of 26^th July 2023), Tech Mahindra, has been proactive in emerging as a quality Metaverse stock. It offers a range of IT solutions like infrastructure management, application development, and solution integration.

Tech Mahindra, having expertise in R&D services, has ventured into the Metaverse with many aspirations. In February 2022, it announced the launch of TechMVerse, a revolutionary step to provide an interactive VR experience to its customers.

With TechMVerse, Tech Mahindra aims to revolutionise customer experience by leveraging the Metaverse to launch various ventures like VR car dealerships, virtual banks, NFT marketplace and gaming centres. 

In Conclusion

The digital landscape is about to change drastically, and Indian tech companies are aiming high to compete with global leaders in the Metaverse space. With the momentum for the Metaverse craze yet to start in India, it is the perfect opportunity to invest in leading Metaverse stocks.

Investing in these exemplary Metaverse stocks has become easier than ever with Tata Capital.

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