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Indian (NIFTY) Tech Sector Analysis
UpdatedJan 09, 2026
DataAggregated Company Financials
Companies352
- 7D-0.9%
- 3M1.8%
- 1Y-16.3%
- YTD-0.9%
In the last week, the Tech industry is flat overall, with Waaree Energies standing out by going down 12%. Unfortunately though, the industry is down 16% over the past 12 months. As for the next few years, earnings are expected to grow by 10% per annum.
Sector Valuation and Performance
Has the Indian Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 09 Jan 2026 | ₹39.6t | ₹11.6t | ₹1.5t | 29.6x | 26.5x | 3.4x |
| Sun, 07 Dec 2025 | ₹40.6t | ₹11.6t | ₹1.5t | 30.5x | 27.1x | 3.5x |
| Tue, 04 Nov 2025 | ₹38.8t | ₹11.4t | ₹1.5t | 33.9x | 26.3x | 3.4x |
| Thu, 02 Oct 2025 | ₹37.3t | ₹11.3t | ₹1.5t | 33x | 25.5x | 3.3x |
| Sat, 30 Aug 2025 | ₹37.9t | ₹11.2t | ₹1.5t | 32.1x | 26x | 3.4x |
| Mon, 28 Jul 2025 | ₹38.2t | ₹11.0t | ₹1.4t | 34.4x | 26.8x | 3.5x |
| Wed, 25 Jun 2025 | ₹40.6t | ₹10.9t | ₹1.4t | 34.2x | 28.8x | 3.7x |
| Fri, 23 May 2025 | ₹39.8t | ₹10.8t | ₹1.4t | 32.4x | 28.4x | 3.7x |
| Sun, 20 Apr 2025 | ₹36.3t | ₹10.7t | ₹1.4t | 30.2x | 26.3x | 3.4x |
| Tue, 18 Mar 2025 | ₹38.0t | ₹10.7t | ₹1.4t | 28.7x | 27.3x | 3.6x |
| Thu, 13 Feb 2025 | ₹43.2t | ₹10.5t | ₹1.4t | 34.3x | 31.3x | 4.1x |
| Sat, 11 Jan 2025 | ₹47.5t | ₹10.3t | ₹1.3t | 40.8x | 35.3x | 4.6x |
| Mon, 09 Dec 2024 | ₹48.2t | ₹10.2t | ₹1.3t | 42.2x | 36.5x | 4.7x |
| Wed, 06 Nov 2024 | ₹44.1t | ₹10.2t | ₹1.3t | 41.5x | 33.4x | 4.3x |
| Fri, 04 Oct 2024 | ₹44.7t | ₹9.8t | ₹1.3t | 40.6x | 35.2x | 4.5x |
| Sun, 01 Sep 2024 | ₹45.8t | ₹9.9t | ₹1.3t | 43.2x | 36.2x | 4.6x |
| Tue, 30 Jul 2024 | ₹44.0t | ₹9.8t | ₹1.3t | 42.6x | 34.7x | 4.5x |
| Thu, 27 Jun 2024 | ₹38.9t | ₹9.7t | ₹1.2t | 41.3x | 31.4x | 4x |
| Sat, 25 May 2024 | ₹37.1t | ₹9.7t | ₹1.2t | 42.1x | 30x | 3.8x |
| Mon, 22 Apr 2024 | ₹36.5t | ₹9.6t | ₹1.2t | 45.4x | 29.6x | 3.8x |
| Wed, 20 Mar 2024 | ₹38.3t | ₹9.6t | ₹1.2t | 42.6x | 31.8x | 4x |
| Fri, 16 Feb 2024 | ₹40.3t | ₹9.6t | ₹1.2t | 45.1x | 33.5x | 4.2x |
| Sun, 14 Jan 2024 | ₹39.1t | ₹9.5t | ₹1.2t | 46.9x | 32x | 4.1x |
| Tue, 12 Dec 2023 | ₹36.3t | ₹9.5t | ₹1.2t | 42.6x | 29.5x | 3.8x |
| Thu, 09 Nov 2023 | ₹33.3t | ₹9.5t | ₹1.2t | 40.9x | 27.3x | 3.5x |
| Sat, 07 Oct 2023 | ₹34.4t | ₹9.3t | ₹1.2t | 40.5x | 28.3x | 3.7x |
| Mon, 04 Sep 2023 | ₹33.1t | ₹9.3t | ₹1.2t | 39.8x | 27.3x | 3.6x |
| Wed, 02 Aug 2023 | ₹32.3t | ₹9.2t | ₹1.2t | 38x | 26.7x | 3.5x |
| Fri, 30 Jun 2023 | ₹30.7t | ₹9.0t | ₹1.2t | 34x | 25.9x | 3.4x |
| Sun, 28 May 2023 | ₹31.0t | ₹9.0t | ₹1.2t | 29.8x | 26x | 3.4x |
| Tue, 25 Apr 2023 | ₹28.8t | ₹8.7t | ₹1.2t | 28.2x | 24.5x | 3.3x |
| Thu, 23 Mar 2023 | ₹29.4t | ₹8.6t | ₹1.2t | 25.3x | 25.3x | 3.4x |
| Sat, 18 Feb 2023 | ₹33.0t | ₹8.9t | ₹1.2t | 26.3x | 28.5x | 3.7x |
| Mon, 16 Jan 2023 | ₹31.6t | ₹8.7t | ₹1.1t | 28.7x | 27.8x | 3.6x |
Price to Earnings Ratio
27.8x
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 26.5x which is lower than its 3-year average PE of 29.4x.
- The 3-year average PS ratio of 3.8x is higher than the industry's current PS ratio of 3.4x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have grown 9.6% per year over the last three years.
- Revenues for these companies have grown 9.9% 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 Market | -0.99% | |
| Tech | -0.92% | |
| Tech Hardware | 7.46% | |
| Software | 0.23% | |
| IT | -0.64% | |
| Electronic Equipment and Components | -1.07% | |
| Communications | -1.33% | |
| Semiconductors | -8.19% | |
Industry PE
- Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 112x.
- Analysts are expecting annual earnings growth of 45.1%, which is higher than its past year's earnings growth of 19.5% per year.
- Investors are most pessimistic about the IT industry, which is trading close to its 3-year average of 27.6x.
Forecasted Growth
- Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 45% over the next 5 years.
- This is better than its past earnings growth rate of 20% per year.
- In contrast, the IT industry is expected to see its earnings grow by 8.6% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| HCLTECH HCL Technologies | ₹1.65k | 0.7% +₹33.0b | -14.9% | PE25.1x | |
| 500408 Tata Elxsi | ₹5.72k | 9.7% +₹31.5b | -11.3% | PE53.1x | |
| PERSISTENT Persistent Systems | ₹6.44k | 2.6% +₹24.2b | 4.3% | PE57.8x | |
| NETWEB Netweb Technologies India | ₹3.40k | 10.5% +₹18.2b | 23.0% | PE142.6x | |
| EMMVEE Emmvee Photovoltaic Power | ₹201.81 | 6.9% +₹9.0b | n/a | PE19.1x |
