HCL Technologies Limited's (NSE:HCLTECH) Business And Shares Still Trailing The Market
Sep 18
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Indian (NIFTY) Tech Sector Analysis
UpdatedSep 18, 2025
DataAggregated Company Financials
Companies341
- 7D1.1%
- 3M-3.8%
- 1Y-17.4%
- YTD-16.9%
The Tech industry is up 1.1% in the last week, with Tata Consultancy Services up 2.0%. However, the industry is down 17% over the past year. Looking forward, earnings are forecast to grow by 10% annually.
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 |
|---|---|---|---|---|---|---|
| Thu, 18 Sep 2025 | ₹39.5t | ₹11.2t | ₹1.5t | 34.1x | 27.2x | 3.5x |
| Sat, 16 Aug 2025 | ₹37.2t | ₹11.1t | ₹1.4t | 31.5x | 25.7x | 3.3x |
| Mon, 14 Jul 2025 | ₹40.0t | ₹10.9t | ₹1.4t | 33.5x | 28.3x | 3.7x |
| Wed, 11 Jun 2025 | ₹40.8t | ₹10.8t | ₹1.4t | 34.1x | 29.1x | 3.8x |
| Fri, 09 May 2025 | ₹38.2t | ₹10.8t | ₹1.4t | 29.8x | 27.5x | 3.6x |
| Sun, 06 Apr 2025 | ₹36.0t | ₹10.6t | ₹1.4t | 30.2x | 26x | 3.4x |
| Tue, 04 Mar 2025 | ₹39.2t | ₹10.7t | ₹1.4t | 29.7x | 28.1x | 3.7x |
| Thu, 30 Jan 2025 | ₹44.5t | ₹10.4t | ₹1.4t | 38.9x | 32.5x | 4.3x |
| Sat, 28 Dec 2024 | ₹47.1t | ₹10.3t | ₹1.3t | 42.7x | 35.4x | 4.6x |
| Mon, 25 Nov 2024 | ₹46.1t | ₹10.2t | ₹1.3t | 40.2x | 34.9x | 4.5x |
| Wed, 23 Oct 2024 | ₹43.6t | ₹10.0t | ₹1.3t | 41x | 33.6x | 4.4x |
| Fri, 20 Sep 2024 | ₹45.0t | ₹9.9t | ₹1.3t | 41.6x | 35.6x | 4.6x |
| Sun, 18 Aug 2024 | ₹43.9t | ₹9.9t | ₹1.3t | 40.7x | 34.7x | 4.5x |
| Tue, 16 Jul 2024 | ₹42.4t | ₹9.8t | ₹1.3t | 43.6x | 33.8x | 4.3x |
| Thu, 13 Jun 2024 | ₹37.9t | ₹9.7t | ₹1.2t | 41.9x | 30.7x | 3.9x |
| Sat, 11 May 2024 | ₹36.4t | ₹9.7t | ₹1.2t | 44.7x | 29.5x | 3.8x |
| Mon, 08 Apr 2024 | ₹38.3t | ₹9.6t | ₹1.2t | 46.4x | 31.7x | 4x |
| Wed, 06 Mar 2024 | ₹39.3t | ₹9.6t | ₹1.2t | 44.3x | 32.6x | 4.1x |
| Fri, 02 Feb 2024 | ₹39.2t | ₹9.6t | ₹1.2t | 45.9x | 32x | 4.1x |
| Sun, 31 Dec 2023 | ₹38.0t | ₹9.5t | ₹1.2t | 45.6x | 31x | 4x |
| Tue, 28 Nov 2023 | ₹34.3t | ₹9.5t | ₹1.2t | 40.6x | 28.1x | 3.6x |
| Thu, 26 Oct 2023 | ₹32.7t | ₹9.4t | ₹1.2t | 40.2x | 26.6x | 3.5x |
| Sat, 23 Sep 2023 | ₹34.5t | ₹9.3t | ₹1.2t | 39.7x | 28.5x | 3.7x |
| Mon, 21 Aug 2023 | ₹32.3t | ₹9.3t | ₹1.2t | 38.6x | 26.7x | 3.5x |
| Wed, 19 Jul 2023 | ₹33.0t | ₹9.1t | ₹1.2t | 35.8x | 27.4x | 3.6x |
| Fri, 16 Jun 2023 | ₹30.6t | ₹9.0t | ₹1.2t | 34.5x | 25.8x | 3.4x |
| Sun, 14 May 2023 | ₹29.8t | ₹8.9t | ₹1.2t | 30x | 25.1x | 3.3x |
| Tue, 11 Apr 2023 | ₹29.9t | ₹8.6t | ₹1.2t | 27.2x | 25.8x | 3.5x |
| Thu, 09 Mar 2023 | ₹32.0t | ₹8.9t | ₹1.2t | 25.1x | 27.8x | 3.6x |
| Sat, 04 Feb 2023 | ₹32.8t | ₹8.9t | ₹1.1t | 28.7x | 28.5x | 3.7x |
| Mon, 02 Jan 2023 | ₹31.1t | ₹8.6t | ₹1.1t | 29.1x | 27.5x | 3.6x |
| Wed, 30 Nov 2022 | ₹32.7t | ₹8.5t | ₹1.1t | 29.6x | 29.1x | 3.8x |
| Fri, 28 Oct 2022 | ₹30.3t | ₹8.4t | ₹1.1t | 28.8x | 26.9x | 3.6x |
| Sun, 25 Sep 2022 | ₹28.7t | ₹8.1t | ₹1.1t | 28.1x | 25.8x | 3.5x |
Price to Earnings Ratio
25.8x
Current Industry PE
- Investors are relatively neutral on the Indian Information Technology industry at the moment, indicating that they anticipate long term growth rates to remain steady.
- The industry is trading close to its 3-year average PE ratio of 29.5x.
- The industry is trading close to its 3-year average PS ratio of 3.8x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have grown 9.4% per year over the last three years.
- Revenues for these companies have grown 11% 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 | 1.75% | |
| Tech | 1.13% | |
| Communications | 4.76% | |
| Electronic Equipment and Components | 4.01% | |
| Semiconductors | 2.26% | |
| IT | 0.98% | |
| Software | -0.50% | |
| Tech Hardware | -5.88% | |
Industry PE
- Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 43.5x.
- Analysts are expecting annual earnings growth of 35.5%, which is higher than its past year's earnings growth of 2.9% per year.
- Investors are most pessimistic about the IT industry, which is trading below its 3-year average of 27.8x.
Forecasted Growth
- Analysts are most optimistic on the Tech Hardware industry, expecting annual earnings growth of 38% over the next 5 years.
- However this is lower than its past earnings growth rate of 47% per year.
- In contrast, the IT industry is expected to see its earnings grow by 8.0% 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 | |
|---|---|---|---|---|---|
| TCS Tata Consultancy Services | ₹3.18k | 1.7% +₹189.9b | -26.1% | PE23.3x | |
| INFY Infosys | ₹1.54k | 2.0% +₹128.1b | -18.7% | PE22.6x | |
| HCLTECH HCL Technologies | ₹1.49k | 1.8% +₹70.7b | -14.0% | PE23x | |
| LTIM LTIMindtree | ₹5.52k | 4.4% +₹69.1b | -13.4% | PE34.7x | |
| REDINGTON Redington | ₹288.14 | 19.0% +₹36.0b | 50.6% | PE13.8x |
