The stock markets in India are contributing an enormous extent in progress of the economy. The IT industry engages major share among other sectors in Indian stock trading scenario. This study examines the correlation between return and unsystematic risk of the IT stocks listed in India’s one of the greater stock exchange i.e. National Stock Exchange of India Ltd (NSE). To examine the performance of these stocks, quarterly return and quarterly unsystematic risk has been calculated for a period of two years from April, 2012 to March, 2014. We found that there is no significant relationship exists among the stocks.