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Indian (NIFTY) IT Industry Analysis

UpdatedJun 14, 2026
DataAggregated Company Financials
Companies161
  • 7D-4.2%
  • 3M-7.0%
  • 1Y-31.3%
  • YTD-29.6%

Over the last 7 days, the IT industry has dropped 4.2%, driven by Infosys declining 6.8%. On the other hand ASM Technologies is actually up 6.5%. However, the industry is down 31% over the past year. Looking forward, earnings are forecast to grow by 8.6% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Jun 2026₹23.3t₹9.3t₹1.3t22.7x17.4x2.5x
Tue, 12 May 2026₹24.9t₹9.2t₹1.3t22.3x18.7x2.7x
Thu, 09 Apr 2026₹26.8t₹9.0t₹1.3t21.8x20.8x3x
Sat, 07 Mar 2026₹25.9t₹8.9t₹1.3t20.5x20.1x2.9x
Mon, 02 Feb 2026₹32.5t₹8.9t₹1.3t24.6x25.3x3.6x
Wed, 31 Dec 2025₹32.8t₹8.7t₹1.3t25.5x25x3.8x
Fri, 28 Nov 2025₹32.3t₹8.7t₹1.3t25.6x24.7x3.7x
Sun, 26 Oct 2025₹31.2t₹8.6t₹1.3t27.6x24.1x3.6x
Tue, 23 Sep 2025₹30.9t₹8.5t₹1.3t27.2x24x3.6x
Thu, 21 Aug 2025₹31.1t₹8.5t₹1.3t27.5x24.2x3.7x
Sat, 19 Jul 2025₹32.2t₹8.4t₹1.3t29.9x25.5x3.8x
Mon, 16 Jun 2025₹33.7t₹8.4t₹1.3t30.3x26.9x4x
Wed, 14 May 2025₹33.0t₹8.3t₹1.3t27.4x26.4x4x
Fri, 11 Apr 2025₹29.4t₹8.3t₹1.3t24.7x23.4x3.6x
Sun, 09 Mar 2025₹33.8t₹8.3t₹1.3t26.6x26.8x4.1x
Tue, 04 Feb 2025₹37.3t₹8.2t₹1.2t32.5x29.9x4.6x
Thu, 02 Jan 2025₹38.4t₹8.0t₹1.2t35.2x31.8x4.8x
Sat, 30 Nov 2024₹38.6t₹8.0t₹1.2t37.5x32.2x4.8x
Mon, 28 Oct 2024₹37.4t₹8.0t₹1.2t36.1x31.2x4.7x
Wed, 25 Sep 2024₹38.2t₹7.8t₹1.2t40x32.8x4.9x
Fri, 23 Aug 2024₹38.2t₹7.8t₹1.2t39.3x32.7x4.9x
Sun, 21 Jul 2024₹36.9t₹7.8t₹1.2t40.7x31.6x4.7x
Tue, 18 Jun 2024₹32.4t₹7.7t₹1.1t33.3x28.3x4.2x
Thu, 16 May 2024₹31.4t₹7.8t₹1.1t36.5x27.7x4.1x
Sat, 13 Apr 2024₹33.0t₹7.7t₹1.1t38.1x29.7x4.3x
Mon, 11 Mar 2024₹34.7t₹7.7t₹1.1t36.7x31.3x4.5x
Wed, 07 Feb 2024₹35.4t₹7.7t₹1.1t43.2x31.9x4.6x
Fri, 05 Jan 2024₹32.4t₹7.8t₹1.1t42.2x28.4x4.2x
Sun, 03 Dec 2023₹31.0t₹7.8t₹1.1t39.8x27.1x4x
Tue, 31 Oct 2023₹28.7t₹7.7t₹1.1t40.1x25.5x3.8x
Thu, 28 Sep 2023₹30.3t₹7.6t₹1.1t36.9x27x4x
Sat, 26 Aug 2023₹28.7t₹7.6t₹1.1t36x25.6x3.8x
Mon, 24 Jul 2023₹28.0t₹7.5t₹1.1t32.4x25x3.7x
Wed, 21 Jun 2023₹27.4t₹7.4t₹1.1t33.6x24.9x3.7x
Price to Earnings Ratio

24.9x


Total Market Cap: ₹27.4tTotal Earnings: ₹1.1tTotal Revenue: ₹7.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Industry Price to Earnings3Y Average 26.8x202420252026
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 17.4x which is lower than its 3-year average PE of 26.8x.
  • The 3-year average PS ratio of 4.0x 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 7.9% 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 industry?

IN Market0.052%
Tech-3.41%
IT-4.19%
Data Processing Services-1.74%
IT Consulting-4.15%
Internet Services and Infrastructure-13.32%
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 67.1x.
    • Analysts are expecting annual earnings growth of 15.4%, 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 8.6% 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
526433 ASM Technologies₹3.45k6.5%
+₹3.1b		46.8%PE82.9x
SILVERTUC Silver Touch Technologies₹198.7811.2%
+₹2.5b		152.0%PE70.6x
506109 Genesys International₹317.7015.4%
+₹1.8b		-53.0%PE40.8x
HGS Hinduja Global Solutions₹427.605.8%
+₹1.1b		-20.3%PS0.5x
KODYTECH Kody Technolab₹945.459.6%
+₹1.1b		11.7%PE71.9x

Latest News

LTM
₹3,844.70
LTM
7D
-4.5%
1Y
-29.2%
506109
₹317.70
Genesys International
7D
15.4%
1Y
-53.0%
HGS
₹427.60
Hinduja Global Solutions
7D
5.8%
1Y
-20.3%
PERSISTENT
₹4,811.00
Persistent Systems
7D
-4.5%
1Y
-18.2%
Narrative Update • Jun 11

PERSISTENT: AI Collaborations And Talent Initiatives Will Support Future Rerating Potential

Analysts have maintained the price target for Persistent Systems at ₹6,600, supported by updated assumptions that include adjusted discount rates, slightly different revenue growth expectations, profit margin forecasts, and a revised future P/E estimate. What's in the News Board meeting on Jun 8, 2026 to consider the reappointment of independent directors Avani Davda and Arvind Goel, along with other matters.
534535
₹10.34
String Metaverse
7D
5.0%
1Y
-36.7%
COFORGE
₹1,367.20
Coforge
7D
-4.8%
1Y
-23.7%
Narrative Update • Jun 06

COFORGE: Agentic AI Offerings Will Drive Future Sectorwide Workflow Adoption

Analysts have adjusted their price target on Coforge to ₹1,644.85 from ₹2,021.33, citing updated assumptions around revenue growth of 23.44%, profit margin of 11.17%, a discount rate of 15.06% and a future P/E of 24.57x. What’s in the News Coforge plans a Board Meeting on Jul 27, 2026 to consider and approve unaudited consolidated and standalone financial results for the quarter ended Jun 30, 2026.
TCS
₹2,161.40
Tata Consultancy Services
7D
-1.7%
1Y
-37.3%
Narrative Update • Jun 05

TCS: Expanding AI Partnerships Will Drive Future Upside Potential

Analysts have trimmed their fair value estimate for Tata Consultancy Services slightly, with the price target moving from about ₹2,948 to around ₹2,940, reflecting updated assumptions on the discount rate, revenue growth, profit margins and future P/E expectations. What's in the News QAD | Redzone, Amazon Web Services and Tata Consultancy Services (TCS) announced an expanded collaboration to offer a combined manufacturing platform that uses agentic AI, modern ERP and cloud infrastructure to help mid market manufacturers modernize operations, with TCS acting as the architect for phased ERP transformation and integration.
507685
₹180.10
Wipro
7D
-9.2%
1Y
-30.8%
INFY
₹1,116.40
Infosys
7D
-6.8%
1Y
-30.3%
Narrative Update • Jun 03

INFY: AI Services Expansion Will Support Margins Despite Recent Model Fine Tuning

Infosys' updated analyst price target edges down by about ₹1 to roughly ₹1,461 as analysts factor in slightly softer revenue growth assumptions, a modestly lower future P/E and a small uptick in expected profit margins. Analyst Commentary Recent Street research on Infosys has focused on fine tuning valuation assumptions, with several firms trimming their price targets in relatively small increments.
511144
₹336.65
Axis Solutions
7D
5.0%
1Y
n/a
TECHM
₹1,429.20
Tech Mahindra
7D
-3.7%
1Y
-13.9%
Narrative Update • Jun 03

TECHM: AI Alliances And Margin Discipline Will Support Future Upside

Analysts have reduced their fair value estimate for Tech Mahindra from ₹2,196.47 to ₹1,897.03, reflecting slightly lower assumed revenue growth, profit margins, and future P/E, along with a modestly adjusted discount rate. Analyst Commentary Even with a lower fair value estimate, bullish analysts still see room for Tech Mahindra to execute on its plans and support the revised valuation.
HCLTECH
₹1,109.60
HCL Technologies
7D
-3.9%
1Y
-34.5%
Narrative Update • Jun 02

HCLTECH: Expanding AI Collaboration With Cloud Partner Will Drive Measured Upside

Analysts have reduced their price target on HCL Technologies from ₹1,561.48 to ₹1,427.38, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E that now point to a lower fair value estimate. What's in the News HCL Technologies has expanded its collaboration with Google Cloud to support enterprise adoption of Agentic AI, using Gemini Enterprise and Gemini models to build custom AI agents and integrating its AI Force platform with Google tools, with a plan to grow its Google Cloud certified workforce from 12,000 to over 35,000 within three years.
SILVERTUC
₹198.78
Silver Touch Technologies
7D
11.2%
1Y
152.0%
544361
₹160.30
Covance Softsol
7D
9.3%
1Y
1,033.7%
526433
₹3,452.30
ASM Technologies
7D
6.5%
1Y
46.8%
KODYTECH
₹945.45
Kody Technolab
7D
9.6%
1Y
11.7%
Analysis Article • May 15

Kody Technolab's (NSE:KODYTECH) Anemic Earnings Might Be Worse Than You Think

Despite Kody Technolab Limited's ( NSE:KODYTECH ) recent earnings report having lackluster headline numbers, the market...