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Indian (NIFTY) Tech Sector Analysis

UpdatedApr 05, 2026
DataAggregated Company Financials
Companies358
  • 7D2.4%
  • 3M-20.4%
  • 1Y-12.8%
  • YTD-19.9%

Over the last 7 days, the Tech industry has risen 2.4%, driven by gains from Tata Consultancy Services of 2.5%. During this same period, the PG Electroplast underperformed, falling 6.8%. In the past year, the industry is down 13%. As for the next few years, earnings are expected to grow by 13% per annum.

Sector Valuation and Performance

Has the Indian Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Apr 2026₹32.2t₹12.0t₹1.5t22x21.5x2.7x
Tue, 03 Mar 2026₹32.9t₹11.9t₹1.5t23.8x22.2x2.8x
Thu, 29 Jan 2026₹39.6t₹11.8t₹1.5t26.9x26.7x3.3x
Sat, 27 Dec 2025₹40.5t₹11.6t₹1.5t29.9x27x3.5x
Mon, 24 Nov 2025₹39.7t₹11.5t₹1.5t32.7x26.6x3.4x
Wed, 22 Oct 2025₹38.5t₹11.3t₹1.5t33.8x26.3x3.4x
Fri, 19 Sep 2025₹39.7t₹11.2t₹1.5t34.4x27.3x3.6x
Sun, 17 Aug 2025₹37.2t₹11.1t₹1.4t31.9x25.7x3.3x
Tue, 15 Jul 2025₹39.6t₹10.9t₹1.4t33.4x28x3.6x
Thu, 12 Jun 2025₹41.2t₹10.8t₹1.4t34.8x29.3x3.8x
Sat, 10 May 2025₹38.1t₹10.8t₹1.4t29.8x27.4x3.5x
Mon, 07 Apr 2025₹36.0t₹10.6t₹1.4t30.2x26x3.4x
Wed, 05 Mar 2025₹39.0t₹10.7t₹1.4t29.7x28x3.6x
Fri, 31 Jan 2025₹44.2t₹10.5t₹1.4t37.9x32.3x4.2x
Sun, 29 Dec 2024₹47.1t₹10.3t₹1.3t42.4x35.4x4.6x
Tue, 26 Nov 2024₹46.5t₹10.2t₹1.3t41.1x35.2x4.6x
Thu, 24 Oct 2024₹44.3t₹10.0t₹1.3t41.4x34x4.4x
Sat, 21 Sep 2024₹45.3t₹9.9t₹1.3t42.2x35.8x4.6x
Mon, 19 Aug 2024₹43.9t₹9.9t₹1.3t40.7x34.7x4.5x
Wed, 17 Jul 2024₹42.5t₹9.8t₹1.3t43.8x33.8x4.4x
Fri, 14 Jun 2024₹38.0t₹9.7t₹1.2t41.4x30.7x3.9x
Sun, 12 May 2024₹36.4t₹9.7t₹1.2t43.9x29.5x3.8x
Tue, 09 Apr 2024₹38.1t₹9.6t₹1.2t47.9x31.6x4x
Thu, 07 Mar 2024₹39.6t₹9.6t₹1.2t43x32.8x4.1x
Sat, 03 Feb 2024₹40.0t₹9.6t₹1.2t47.4x32.7x4.2x
Mon, 01 Jan 2024₹38.0t₹9.5t₹1.2t45.6x31x4x
Wed, 29 Nov 2023₹34.4t₹9.5t₹1.2t40.9x28.1x3.6x
Fri, 27 Oct 2023₹32.5t₹9.4t₹1.2t41.9x26.6x3.4x
Sun, 24 Sep 2023₹34.5t₹9.3t₹1.2t40.3x28.5x3.7x
Tue, 22 Aug 2023₹32.3t₹9.3t₹1.2t38.7x26.7x3.5x
Thu, 20 Jul 2023₹33.0t₹9.1t₹1.2t37.5x27.4x3.6x
Sat, 17 Jun 2023₹30.5t₹9.0t₹1.2t35.2x25.7x3.4x
Mon, 15 May 2023₹29.8t₹8.9t₹1.2t30x25.1x3.3x
Wed, 12 Apr 2023₹29.9t₹8.6t₹1.2t27.1x25.8x3.5x
Price to Earnings Ratio

25.8x


Total Market Cap: ₹29.9tTotal Earnings: ₹1.2tTotal Revenue: ₹8.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Tech Sector Price to Earnings3Y Average 29.1x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 21.5x which is lower than its 3-year average PE of 29.1x.
  • The 3-year average PS ratio of 3.8x is higher than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 8.8% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Tech sector?

IN Market0.0059%
Tech2.41%
Software2.81%
IT2.76%
Communications2.22%
Semiconductors0.60%
Tech Hardware0.50%
Electronic Equipment and Components-1.01%
Industry PE
  • Investors are most optimistic about the Tech Hardware industry even though it's trading below its 3-year average PE ratio of 112x.
    • Analysts are expecting annual earnings growth of 39.3%, which is lower than the prior year's growth of 43.9% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 62% over the next 5 years.
  • This is better than its past earnings growth rate of 36% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TCS Tata Consultancy Services₹2.45k2.5%
+₹220.3b		-25.7%PE18.6x
INFY Infosys₹1.30k2.4%
+₹125.8b		-10.4%PE17.7x
HCLTECH HCL Technologies₹1.40k2.8%
+₹102.3b		-1.4%PE21.7x
PERSISTENT Persistent Systems₹5.23k6.7%
+₹48.9b		13.4%PE45.1x
TECHM Tech Mahindra₹1.44k3.6%
+₹44.2b		9.1%PE27.6x

Latest News

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Waaree Energies
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Order Book And Value Chain Expansion Will Support Long Term Energy Transition Upside

Catalysts About Waaree Energies Waaree Energies is a solar and broader energy transition manufacturer with operations across modules, cells and adjacent power infrastructure products. What are the underlying business or industry changes driving this perspective?
507685
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Wipro
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1Y
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WEL
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Wonder Electricals
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1Y
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KAYNES
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Kaynes Technology India
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1Y
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KAYNES: Satellite Partnership Will Support Quantum Secure Connectivity And Future Upside

Analysts have maintained their ₹6,000 price target on Kaynes Technology India, citing updated assumptions that combine slightly adjusted discount and revenue growth inputs with lower profit margin expectations and a higher future P/E of 77.90x. What's in the News Upcoming board meeting on Mar 10, 2026, to consider the resignation of Company Secretary and Compliance Officer Mr. Anuj Mehtha and the proposed appointment of Ms. Sudhasri Addepalli to the same role (company filing).
TECHM
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Tech Mahindra
7D
3.6%
1Y
9.1%
533581
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PG Electroplast
7D
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1Y
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532374
₹177.90
Sterlite Technologies
7D
-4.3%
1Y
120.9%

532374: Next Generation Fibre Wins And Trials Will Support Re Rating

Analysts have lifted their price target on Sterlite Technologies from ₹130 to ₹200, citing updated assumptions for revenue growth, profit margin, discount rate, and future P/E that together point to a higher assessed fair value for the stock. What's in the News Sterlite Technologies closed a private placement on March 30, 2026, after receiving approvals from the board, regulators, and the stock exchange.
COFORGE
₹1,213.40
Coforge
7D
6.0%
1Y
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INFY
₹1,300.80
Infosys
7D
2.4%
1Y
-10.4%

INFY: AI Services Mix Reset Will Support 2026 IT Spending Turnaround

Infosys' updated analyst price target edges lower, with fair value moving from ₹1,724.32 to ₹1,667.80 as analysts factor in slightly softer revenue growth assumptions, a modestly lower future P/E, and higher perceived risk from AI driven shifts in the IT services mix. Analyst Commentary Recent Street research on Infosys reflects a mixed setup, with some analysts trimming expectations and others adjusting targets higher while staying cautious on execution and the evolving role of AI in IT services.
HCLTECH
₹1,402.20
HCL Technologies
7D
2.8%
1Y
-1.4%

AI Factory And Data Intelligence Expansion Will Reshape Long Term Prospects

Catalysts About HCL Technologies HCL Technologies is a global IT services and software company providing IT and business services, engineering and R&D, and software products to clients across industries and geographies. What are the underlying business or industry changes driving this perspective?
PERSISTENT
₹5,227.70
Persistent Systems
7D
6.7%
1Y
13.4%
TCS
₹2,450.70
Tata Consultancy Services
7D
2.5%
1Y
-25.7%

TCS: AI Collaborations And Special Dividend Will Support Future Upside

Analysts have reduced their price target for Tata Consultancy Services by about ₹100 to reflect slightly softer revenue growth expectations, a marginally lower discount rate, and a small uplift in projected profit margins and future P/E multiples. What's in the News TCS declared a special dividend of ₹46 per equity share, with a record date of January 17, 2026, and dividend payout scheduled for February 3, 2026.
LTM
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LTM
7D
2.5%
1Y
4.1%
SYRMA
₹796.30
Syrma SGS Technology
7D
-2.7%
1Y
80.1%

SYRMA: Revised Fair Value And Board Review Will Shape Rich P/E Outlook

Analysts have lifted their price target on Syrma SGS Technology from ₹758.32 to ₹820.00, citing updated assumptions that reflect adjusted discount rates, revenue growth, profit margin and future P/E expectations. What's in the News Board meeting scheduled for January 29, 2026, to consider and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025 (Key Developments).
EMMVEE
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Emmvee Photovoltaic Power
7D
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1Y
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CPPLUS
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Aditya Infotech
7D
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1Y
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Earnings Tell The Story For Aditya Infotech Limited (NSE:CPPLUS)

Feb 16
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