Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) Tech Sector Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies354
  • 7D1.6%
  • 3M5.0%
  • 1Y-12.9%
  • YTD0.5%

Over the last 7 days, the Tech industry has risen 1.6%, driven by gains from Infosys of 4.7%. Meanwhile, Tejas Networks actually underperformed within the industry, shrinking 13% in the last week. In contrast, the industry has lost 13% in the last 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026₹40.2t₹11.7t₹1.5t28.1x27.4x3.4x
Tue, 16 Dec 2025₹40.4t₹11.6t₹1.5t30.1x26.9x3.5x
Thu, 13 Nov 2025₹39.8t₹11.5t₹1.5t33.8x26.9x3.5x
Sat, 11 Oct 2025₹38.9t₹11.3t₹1.5t33.6x26.6x3.4x
Mon, 08 Sep 2025₹37.6t₹11.2t₹1.5t33x25.9x3.4x
Wed, 06 Aug 2025₹37.5t₹11.1t₹1.4t33.5x26x3.4x
Fri, 04 Jul 2025₹41.0t₹10.8t₹1.4t33.7x29.2x3.8x
Sun, 01 Jun 2025₹40.2t₹10.8t₹1.4t32.7x28.6x3.7x
Tue, 29 Apr 2025₹38.1t₹10.7t₹1.4t31.6x27.6x3.6x
Thu, 27 Mar 2025₹39.9t₹10.6t₹1.4t30x28.8x3.7x
Sat, 22 Feb 2025₹42.4t₹10.7t₹1.4t32.2x30.4x4x
Mon, 20 Jan 2025₹45.1t₹10.4t₹1.4t40.6x33x4.3x
Wed, 18 Dec 2024₹48.8t₹10.2t₹1.3t43.5x36.9x4.8x
Fri, 15 Nov 2024₹45.3t₹10.2t₹1.3t41.5x34.3x4.5x
Sun, 13 Oct 2024₹45.1t₹9.9t₹1.3t42.2x35.3x4.6x
Tue, 10 Sep 2024₹45.4t₹9.9t₹1.3t42.9x35.9x4.6x
Thu, 08 Aug 2024₹42.1t₹9.8t₹1.3t40.7x33.3x4.3x
Sat, 06 Jul 2024₹41.0t₹9.7t₹1.2t44.3x33.2x4.2x
Mon, 03 Jun 2024₹35.7t₹9.7t₹1.2t40.4x28.9x3.7x
Wed, 01 May 2024₹36.7t₹9.7t₹1.2t48.5x29.7x3.8x
Fri, 29 Mar 2024₹37.3t₹9.6t₹1.2t40x30.9x3.9x
Sun, 25 Feb 2024₹40.4t₹9.6t₹1.2t46.5x33.5x4.2x
Tue, 23 Jan 2024₹39.3t₹9.6t₹1.2t47.3x31.9x4.1x
Thu, 21 Dec 2023₹37.3t₹9.5t₹1.2t44.8x30.4x3.9x
Sat, 18 Nov 2023₹34.5t₹9.5t₹1.2t42x28.3x3.6x
Mon, 16 Oct 2023₹34.1t₹9.4t₹1.2t42x27.8x3.6x
Wed, 13 Sep 2023₹34.6t₹9.3t₹1.2t39.8x28.5x3.7x
Fri, 11 Aug 2023₹32.6t₹9.3t₹1.2t40x26.9x3.5x
Sun, 09 Jul 2023₹31.4t₹9.0t₹1.2t34.2x26.5x3.5x
Tue, 06 Jun 2023₹31.0t₹9.0t₹1.2t33.1x26.1x3.4x
Thu, 04 May 2023₹29.3t₹8.9t₹1.2t29.1x24.7x3.3x
Sat, 01 Apr 2023₹29.8t₹8.6t₹1.2t25.6x25.7x3.5x
Mon, 27 Feb 2023₹32.3t₹8.9t₹1.2t26.1x27.9x3.6x
Wed, 25 Jan 2023₹32.5t₹8.8t₹1.1t29.2x28.4x3.7x
Price to Earnings Ratio

28.4x


Total Market Cap: ₹32.5tTotal Earnings: ₹1.1tTotal Revenue: ₹8.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Tech Sector Price to Earnings3Y Average 29.4x202420252026
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 29.4x.
  • 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 8.6% per year over the last three years.
  • Revenues for these companies have grown 10.0% 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 Market0.022%
Tech1.60%
IT1.93%
Semiconductors1.38%
Tech Hardware0.33%
Software-0.045%
Electronic Equipment and Components-0.58%
Communications-2.17%
Industry PE
  • Investors are most optimistic about the Tech Hardware industry even though it's trading below its 3-year average PE ratio of 113x.
    • Analysts are expecting annual earnings growth of 41.4%, which is higher than its past year's earnings growth of 35.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 46% over the next 5 years.
  • This is better than its past earnings growth rate of 24% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 10% 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
INFY Infosys₹1.69k4.7%
+₹306.4b		-6.9%PE23.5x
HCLTECH HCL Technologies₹1.70k2.2%
+₹99.3b		-5.1%PE26.8x
LTIM LTIMindtree₹6.31k4.5%
+₹80.3b		7.1%PE38.4x
TECHM Tech Mahindra₹1.67k5.6%
+₹78.2b		0.6%PE32x
507685 Wipro₹267.252.0%
+₹56.0b		-5.2%PE21.1x

Latest News

TECHM
₹1,670.50
Tech Mahindra
7D
5.6%
1Y
0.6%
507685
₹267.25
Wipro
7D
2.0%
1Y
-5.2%
INFY
₹1,689.80
Infosys
7D
4.7%
1Y
-6.9%

Infosys Limited Just Missed Earnings - But Analysts Have Updated Their Models

Jan 17
Infosys Limited Just Missed Earnings - But Analysts Have Updated Their Models
HCLTECH
₹1,698.00
HCL Technologies
7D
2.2%
1Y
-5.1%
500408
₹5,612.40
Tata Elxsi
7D
-1.3%
1Y
-9.6%
532466
₹7,961.40
Oracle Financial Services Software
7D
4.9%
1Y
-20.6%
TANLA
₹462.75
Tanla Platforms
7D
-8.2%
1Y
-30.5%
NEWGEN
₹749.85
Newgen Software Technologies
7D
-6.6%
1Y
-52.7%
501421
₹6,200.00
TechNVision Ventures
7D
-15.3%
1Y
76.6%
TEJASNET
₹364.85
Tejas Networks
7D
-12.5%
1Y
-65.6%
COFORGE
₹1,732.30
Coforge
7D
3.0%
1Y
0.2%

COFORGE: Future Fundraise And Investor Rights Changes Will Pressure Returns

Analysts have lifted their fair value estimate for Coforge from ₹1,333.87 to ₹1,402.87, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Board meeting scheduled for Dec 26, 2025, to consider raising funds via equity issuance or other eligible securities, potentially through private placement, qualified institutions placement, preferential issue, or a combination of methods, subject to approvals (Board Meeting).
MAPMYINDIA
₹1,473.70
C. E. Info Systems
7D
-7.9%
1Y
-10.8%

MAPMYINDIA: Domestic Tracking Contract Will Support Bullish Long-Term Thesis

Analysts have trimmed their price target for C. E.
PREMIERENE
₹739.70
Premier Energies
7D
3.1%
1Y
-35.2%
LTIM
₹6,308.00
LTIMindtree
7D
4.5%
1Y
7.1%

LTIM: Future Performance Will Reflect AI Partnerships While Remaining Fairly Valued

Analysts have raised their price target on LTIMindtree to ₹6,087.68 from ₹5,867.44, citing small adjustments to fair value estimates, the discount rate, revenue growth, profit margin, and future P/E assumptions in their updated models. What's in the News A board meeting is scheduled for January 19, 2026 to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's limited review reports (Board Meeting).
REDINGTON
₹263.50
Redington
7D
-3.6%
1Y
26.0%

REDINGTON: Upcoming September Results Will Shape Outlook With Steady Margins And Balanced Risks

Analysts have lifted their fair value estimate for Redington from ₹281.25 to ₹289.00. This change reflects updated assumptions on the discount rate, revenue growth, profit margins and a higher future P/E multiple.
532493
₹938.75
Astra Microwave Products
7D
-4.8%
1Y
21.0%

532493: Defence Partnership With PSU And Upcoming Results Meeting Will Drive Upside

Analysts have modestly raised their fair value estimate for Astra Microwave Products to ₹1,199 from ₹1,149, reflecting expectations of slightly stronger profitability and a higher justified earnings multiple, despite somewhat softer revenue growth assumptions. What's in the News Astra Microwave Products signed an MoU with Bharat Electronics Limited, a defence PSU, to jointly design, develop and manufacture advanced electronic modules, subsystems and systems for defence electronics and aerospace, with a focus on Electronic Warfare, radar systems and satellite technologies (Key Developments).