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Indian (NIFTY) IT Industry Analysis

UpdatedJul 22, 2026
DataAggregated Company Financials
Companies163
  • 7D0.9%
  • 3M-8.0%
  • 1Y-25.3%
  • YTD-27.4%

Over the last 7 days, the IT industry has remained flat, although notably HCL Technologies gained 6.2%. As for the longer term, the industry has declined 25% in the last year. As for the next few years, earnings are expected to grow by 8.3% per annum.

Industry Valuation and Performance

Has the Indian IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 22 Jul 2026₹23.9t₹9.5t₹1.4t22.4x17.6x2.5x
Fri, 19 Jun 2026₹23.9t₹9.3t₹1.3t23.2x17.9x2.6x
Sun, 17 May 2026₹23.6t₹9.3t₹1.3t21.7x17.6x2.5x
Tue, 14 Apr 2026₹26.1t₹9.1t₹1.3t22.1x19.9x2.9x
Thu, 12 Mar 2026₹25.4t₹9.0t₹1.3t21x19.8x2.8x
Sat, 07 Feb 2026₹30.3t₹8.9t₹1.3t23.1x23.7x3.4x
Mon, 05 Jan 2026₹33.0t₹8.7t₹1.3t25.3x25.2x3.8x
Wed, 03 Dec 2025₹32.3t₹8.7t₹1.3t25.2x24.7x3.7x
Fri, 31 Oct 2025₹31.1t₹8.7t₹1.3t27.7x23.9x3.6x
Sun, 28 Sep 2025₹29.4t₹8.6t₹1.3t26.1x22.8x3.4x
Tue, 26 Aug 2025₹31.5t₹8.5t₹1.3t26.7x24.6x3.7x
Thu, 24 Jul 2025₹32.1t₹8.4t₹1.3t29.9x25.3x3.8x
Sat, 21 Jun 2025₹34.0t₹8.4t₹1.3t29.6x27x4.1x
Mon, 19 May 2025₹33.6t₹8.3t₹1.3t29x26.8x4x
Wed, 16 Apr 2025₹29.9t₹8.3t₹1.3t27x23.9x3.6x
Fri, 14 Mar 2025₹32.4t₹8.3t₹1.3t25.5x25.7x3.9x
Sun, 09 Feb 2025₹37.6t₹8.2t₹1.3t32.4x30.1x4.6x
Tue, 07 Jan 2025₹38.6t₹8.0t₹1.2t34.6x32x4.8x
Thu, 05 Dec 2024₹39.4t₹8.0t₹1.2t36.3x32.8x4.9x
Sat, 02 Nov 2024₹36.4t₹8.0t₹1.2t37.7x30.4x4.6x
Mon, 30 Sep 2024₹38.4t₹7.8t₹1.2t39.5x32.9x4.9x
Wed, 28 Aug 2024₹38.5t₹7.8t₹1.2t40.9x32.9x4.9x
Fri, 26 Jul 2024₹36.9t₹7.8t₹1.2t38.8x31.6x4.7x
Sun, 23 Jun 2024₹32.7t₹7.7t₹1.1t34.3x28.6x4.2x
Tue, 21 May 2024₹31.6t₹7.7t₹1.1t36.4x27.8x4.1x
Thu, 18 Apr 2024₹31.8t₹7.8t₹1.1t38.4x28.3x4.1x
Sat, 16 Mar 2024₹35.1t₹7.7t₹1.1t34x31.6x4.6x
Mon, 12 Feb 2024₹35.1t₹7.7t₹1.1t40.8x31.6x4.6x
Wed, 10 Jan 2024₹32.7t₹7.8t₹1.1t42.4x28.6x4.2x
Fri, 08 Dec 2023₹31.4t₹7.8t₹1.1t39.6x27.5x4x
Sun, 05 Nov 2023₹28.9t₹7.7t₹1.1t39.2x25.5x3.7x
Tue, 03 Oct 2023₹29.7t₹7.6t₹1.1t37.4x26.4x3.9x
Thu, 31 Aug 2023₹28.9t₹7.6t₹1.1t36.3x25.8x3.8x
Sat, 29 Jul 2023₹27.8t₹7.5t₹1.1t32.4x24.9x3.7x
Price to Earnings Ratio

24.9x


Total Market Cap: ₹27.8tTotal Earnings: ₹1.1tTotal Revenue: ₹7.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Industry Price to Earnings3Y Average 26.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian IT 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 17.6x which is lower than its 3-year average PE of 26.6x.
  • The 3-year average PS ratio of 3.9x is higher than the industry's current PS ratio of 2.5x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 6.7% per year over the last three years.
  • Revenues for these companies have grown 8.0% 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 industry?

IN Market0.77%
Tech0.24%
IT0.90%
Internet Services and Infrastructure10.32%
Data Processing Services1.89%
IT Consulting0.86%
Industry PE
  • Investors are most optimistic about the Data Processing Services industry even though it's trading below its 3-year average PE ratio of 67.0x.
    • Analysts are expecting annual earnings growth of 15.3%, which is higher than its past year's earnings growth of 12.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Data Processing Services industry, expecting annual earnings growth of 15% over the next 5 years.
  • This is better than its past earnings growth rate of 13% per year.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 8.3% 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
HCLTECH HCL Technologies₹1.24k5.9%
+₹187.5b		-19.1%PE18.1x
TCS Tata Consultancy Services₹2.21k0.9%
+₹69.1b		-30.5%PE16x
TECHM Tech Mahindra₹1.56k4.1%
+₹54.8b		0.9%PE26.9x
E2E E2E Networks₹468.7014.1%
+₹11.6b		97.7%PE302.6x
PERSISTENT Persistent Systems₹5.10k0.5%
+₹3.4b		-9.0%PE40.8x

Latest News

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Analysis Article • Jul 19

Tech Mahindra Limited Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

It's been a good week for Tech Mahindra Limited ( NSE:TECHM ) shareholders, because the company has just released its...
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INFY: AI Spending Shift Will Shape Medium Term Upside Potential

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