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Indian (NIFTY) Tech Sector Analysis
UpdatedApr 22, 2026
DataAggregated Company Financials
Companies361
- 7D4.4%
- 3M-11.5%
- 1Y-9.2%
- YTD-14.2%
In the last week, the Tech industry is up 4.4%, with Oracle Financial Services Software up 7.8%. Meanwhile, HCL Technologies actually underperformed within the industry, shrinking 11% in the last week. However, the industry is down 9.2% over the past year. Looking forward, earnings are forecast to grow by 12% 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 |
|---|---|---|---|---|---|---|
| Wed, 22 Apr 2026 | ₹34.5t | ₹12.1t | ₹1.5t | 26.2x | 22.8x | 2.9x |
| Fri, 20 Mar 2026 | ₹30.8t | ₹12.0t | ₹1.5t | 22x | 20.6x | 2.6x |
| Sun, 15 Feb 2026 | ₹34.6t | ₹11.9t | ₹1.5t | 25.8x | 23.3x | 2.9x |
| Tue, 13 Jan 2026 | ₹39.6t | ₹11.5t | ₹1.5t | 28.1x | 26.5x | 3.4x |
| Thu, 11 Dec 2025 | ₹39.8t | ₹11.6t | ₹1.5t | 30x | 26.6x | 3.4x |
| Sat, 08 Nov 2025 | ₹38.2t | ₹11.4t | ₹1.5t | 33.8x | 25.8x | 3.3x |
| Mon, 06 Oct 2025 | ₹37.4t | ₹11.2t | ₹1.5t | 33.7x | 25.6x | 3.3x |
| Wed, 03 Sep 2025 | ₹38.3t | ₹11.2t | ₹1.5t | 32.9x | 26.4x | 3.4x |
| Fri, 01 Aug 2025 | ₹37.6t | ₹11.1t | ₹1.4t | 34.3x | 26.1x | 3.4x |
| Sun, 29 Jun 2025 | ₹41.1t | ₹10.9t | ₹1.4t | 33.7x | 29.2x | 3.8x |
| Tue, 27 May 2025 | ₹40.4t | ₹10.8t | ₹1.4t | 32.8x | 28.9x | 3.7x |
| Thu, 24 Apr 2025 | ₹38.4t | ₹10.7t | ₹1.4t | 32.3x | 27.8x | 3.6x |
| Sat, 22 Mar 2025 | ₹39.1t | ₹10.7t | ₹1.4t | 30x | 28.1x | 3.7x |
| Mon, 17 Feb 2025 | ₹42.9t | ₹10.6t | ₹1.4t | 33.9x | 31x | 4.1x |
| Wed, 15 Jan 2025 | ₹46.1t | ₹10.4t | ₹1.3t | 39.6x | 34.2x | 4.4x |
| Fri, 13 Dec 2024 | ₹49.2t | ₹10.2t | ₹1.3t | 42.6x | 37.1x | 4.8x |
| Sun, 10 Nov 2024 | ₹45.6t | ₹10.2t | ₹1.3t | 41.8x | 34.5x | 4.5x |
| Tue, 08 Oct 2024 | ₹44.7t | ₹9.8t | ₹1.3t | 39.9x | 35.2x | 4.5x |
| Thu, 05 Sep 2024 | ₹45.7t | ₹9.9t | ₹1.3t | 41.8x | 36.1x | 4.6x |
| Sat, 03 Aug 2024 | ₹42.9t | ₹9.8t | ₹1.3t | 44.2x | 33.9x | 4.4x |
| Mon, 01 Jul 2024 | ₹39.5t | ₹9.7t | ₹1.2t | 42.3x | 32x | 4.1x |
| Wed, 29 May 2024 | ₹37.1t | ₹9.7t | ₹1.2t | 43x | 29.9x | 3.8x |
| Fri, 26 Apr 2024 | ₹37.0t | ₹9.6t | ₹1.2t | 47x | 29.9x | 3.8x |
| Sun, 24 Mar 2024 | ₹37.8t | ₹9.6t | ₹1.2t | 42.7x | 31.3x | 3.9x |
| Tue, 20 Feb 2024 | ₹40.6t | ₹9.6t | ₹1.2t | 46.7x | 33.7x | 4.2x |
| Thu, 18 Jan 2024 | ₹39.5t | ₹9.5t | ₹1.2t | 45.6x | 32.2x | 4.1x |
| Sat, 16 Dec 2023 | ₹38.3t | ₹9.5t | ₹1.2t | 45.5x | 31.2x | 4x |
| Mon, 13 Nov 2023 | ₹32.9t | ₹9.5t | ₹1.2t | 42x | 27x | 3.5x |
| Wed, 11 Oct 2023 | ₹34.6t | ₹9.3t | ₹1.2t | 40.5x | 28.5x | 3.7x |
| Fri, 08 Sep 2023 | ₹34.0t | ₹9.3t | ₹1.2t | 40.5x | 28x | 3.7x |
| Sun, 06 Aug 2023 | ₹32.4t | ₹9.3t | ₹1.2t | 39.8x | 26.7x | 3.5x |
| Tue, 04 Jul 2023 | ₹31.3t | ₹9.0t | ₹1.2t | 34.2x | 26.4x | 3.5x |
| Thu, 01 Jun 2023 | ₹31.0t | ₹9.0t | ₹1.2t | 30x | 26.1x | 3.4x |
| Sat, 29 Apr 2023 | ₹29.4t | ₹9.0t | ₹1.2t | 29.3x | 24.7x | 3.3x |
Price to Earnings Ratio
24.7x
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 22.8x 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 2.9x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have grown 8.4% per year over the last three years.
- Revenues for these companies have grown 10% 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 | 4.27% | |
| Tech | 4.43% | |
| Tech Hardware | 15.71% | |
| Electronic Equipment and Components | 9.65% | |
| Software | 7.28% | |
| Communications | 4.57% | |
| Semiconductors | 4.21% | |
| IT | 3.72% | |
Industry PE
- Investors are most optimistic about the Tech Hardware industry even though it's trading below its 3-year average PE ratio of 111x.
- Analysts are expecting annual earnings growth of 39.4%, 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 68% over the next 5 years.
- This is better than its past earnings growth rate of 19% per year.
- In contrast, the IT industry is expected to see its earnings grow by 9.9% 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 | |
|---|---|---|---|---|---|
| 532466 Oracle Financial Services Software | ₹8.13k | 7.8% +₹51.5b | -5.7% | PE29x | |
| KAYNES Kaynes Technology India | ₹4.46k | 11.0% +₹29.6b | -24.7% | PE76.9x | |
| NETWEB Netweb Technologies India | ₹4.02k | 12.8% +₹26.0b | 162.4% | PE128.2x | |
| SYRMA Syrma SGS Technology | ₹997.75 | 11.5% +₹19.8b | 91.6% | PE68.1x | |
| 517174 Honeywell Automation India | ₹32.70k | 7.1% +₹19.3b | -4.3% | PE57.2x |
