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Indian (NIFTY) IT Industry Analysis

UpdatedFeb 15, 2026
DataAggregated Company Financials
Companies160
  • 7D-8.0%
  • 3M-11.2%
  • 1Y-24.3%
  • YTD-15.1%

Over the last 7 days, the IT industry has dropped 8.0%, driven by Tata Consultancy Services declining 8.5%. On the other hand Spice Lounge Food Works is actually up 25%. The industry has fallen 24% in the last year. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 15 Feb 2026₹27.9t₹8.9t₹1.3t23x21.8x3.1x
Tue, 13 Jan 2026₹32.7t₹8.7t₹1.3t25.1x25x3.7x
Thu, 11 Dec 2025₹32.7t₹8.7t₹1.3t25.1x25x3.7x
Sat, 08 Nov 2025₹30.5t₹8.7t₹1.3t27.2x23.4x3.5x
Mon, 06 Oct 2025₹29.6t₹8.6t₹1.3t25.5x22.9x3.4x
Wed, 03 Sep 2025₹31.0t₹8.5t₹1.3t26.2x24.1x3.6x
Fri, 01 Aug 2025₹30.6t₹8.5t₹1.3t27.9x23.9x3.6x
Sun, 29 Jun 2025₹33.9t₹8.3t₹1.3t30.1x27.1x4.1x
Tue, 27 May 2025₹33.5t₹8.3t₹1.3t29x26.8x4x
Thu, 24 Apr 2025₹31.7t₹8.3t₹1.2t28.1x25.4x3.8x
Sat, 22 Mar 2025₹32.9t₹8.3t₹1.3t26.8x26.2x4x
Mon, 17 Feb 2025₹36.5t₹8.2t₹1.2t29.1x29.3x4.5x
Wed, 15 Jan 2025₹38.4t₹8.1t₹1.2t35.3x31.4x4.8x
Fri, 13 Dec 2024₹40.7t₹8.0t₹1.2t37.8x33.9x5.1x
Sun, 10 Nov 2024₹37.8t₹8.0t₹1.2t37.2x31.5x4.7x
Tue, 08 Oct 2024₹38.1t₹7.8t₹1.2t36.4x32.6x4.9x
Thu, 05 Sep 2024₹38.9t₹7.8t₹1.2t39.7x33.3x5x
Sat, 03 Aug 2024₹36.7t₹7.8t₹1.2t40.4x31.4x4.7x
Mon, 01 Jul 2024₹33.5t₹7.7t₹1.1t35.2x29.3x4.3x
Wed, 29 May 2024₹31.8t₹7.7t₹1.1t35.7x27.9x4.1x
Fri, 26 Apr 2024₹31.9t₹7.7t₹1.1t37.3x28x4.1x
Sun, 24 Mar 2024₹32.9t₹7.7t₹1.1t34x29.6x4.3x
Tue, 20 Feb 2024₹35.5t₹7.7t₹1.1t38.3x32x4.6x
Thu, 18 Jan 2024₹34.6t₹7.8t₹1.1t44.3x30.5x4.4x
Sat, 16 Dec 2023₹33.8t₹7.8t₹1.1t43x29.6x4.3x
Mon, 13 Nov 2023₹28.8t₹7.7t₹1.1t38.5x25.4x3.7x
Wed, 11 Oct 2023₹30.4t₹7.6t₹1.1t37.9x27.1x4x
Fri, 08 Sep 2023₹29.9t₹7.6t₹1.1t36.4x26.6x4x
Sun, 06 Aug 2023₹28.6t₹7.5t₹1.1t36.9x25.5x3.8x
Tue, 04 Jul 2023₹27.8t₹7.4t₹1.1t33.5x25.3x3.8x
Thu, 01 Jun 2023₹27.7t₹7.4t₹1.1t28.6x25.1x3.7x
Sat, 29 Apr 2023₹26.4t₹7.4t₹1.1t26x24x3.6x
Mon, 27 Mar 2023₹26.4t₹7.1t₹1.1t23.8x24.5x3.7x
Wed, 22 Feb 2023₹30.0t₹7.4t₹1.1t25.8x27.9x4x
Price to Earnings Ratio

27.9x


Total Market Cap: ₹30.0tTotal Earnings: ₹1.1tTotal Revenue: ₹7.4tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Industry Price to Earnings3Y Average 27.5x202420252026
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 21.8x which is lower than its 3-year average PE of 27.5x.
  • The 3-year average PS ratio of 4.1x is higher than the industry's current PS ratio of 3.1x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 5.9% per year over the last three years.
  • Revenues for these companies have grown 6.3% 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 Market-0.39%
Tech-6.87%
IT-8.04%
Internet Services and Infrastructure-0.44%
Data Processing Services-6.23%
IT Consulting-8.05%
Industry PE
  • Investors are most optimistic about the Internet Services and Infrastructure industry which is trading above its 3-year average PE ratio of 70.9x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the IT Consulting industry, which is trading below its 3-year average of 27.4x.
Forecasted Growth
  • Analysts are most optimistic on the Data Processing Services industry, expecting annual earnings growth of 17% 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 11% 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
539895 Spice Lounge Food Works₹38.5225.3%
+₹5.4b		182.0%PE380x
526433 ASM Technologies₹2.77k9.1%
+₹3.4b		118.1%PE67.4x
500463 Black Box₹544.802.9%
+₹2.6b		20.1%PE43.6x
539607 Blue Cloud Softech Solutions₹23.7731.3%
+₹2.5b		-17.6%PE19.8x
538891 Magellanic Cloud₹27.559.2%
+₹1.4b		-61.5%PE15.2x

Latest News

519602
₹17.96
Kellton Tech Solutions
7D
14.6%
1Y
-29.0%
544626
₹386.60
Exato Technologies
7D
22.6%
1Y
n/a
500463
₹544.80
Black Box
7D
2.9%
1Y
20.1%
HCLTECH
₹1,455.20
HCL Technologies
7D
-8.7%
1Y
-15.0%

HCLTECH: AI Deals And Public Sector Expansion Will Support Bullish Outlook

Analysts have nudged their price target on HCL Technologies slightly higher to about ₹1,766 from roughly ₹1,762, reflecting updated assumptions around the discount rate, revenue growth, profit margin and future P/E. What's in the News HCL Technologies was selected by Guardian Life Insurance Company of America for a multi-year partnership focused on AI driven technology transformation using its GenAI platform, AI Force, across application development, support, testing and infrastructure management (Client announcement).
COFORGE
₹1,361.80
Coforge
7D
-11.9%
1Y
-12.6%
INFY
₹1,369.10
Infosys
7D
-9.2%
1Y
-26.2%

INFY: Gradual IT Spend Recovery And AI Adoption Will Support 2026 Repricing

Infosys' analyst price targets have edged higher, with recent increases ranging from about $0.20 to $2.50 per share, as analysts factor in slightly updated assumptions around discount rates, revenue growth, profit margins, and future P/E levels. Analyst Commentary Recent Street research on Infosys has focused on fine tuning fair value estimates rather than making drastic revisions, with several price targets adjusted in small increments between about $0.20 and $2.50 per share.
PERSISTENT
₹5,479.00
Persistent Systems
7D
-6.4%
1Y
-1.5%

Persistent Systems Limited's (NSE:PERSISTENT) Popularity With Investors Is Under Threat From Overpricing

Feb 11
Persistent Systems Limited's (NSE:PERSISTENT) Popularity With Investors Is Under Threat From Overpricing
538891
₹27.55
Magellanic Cloud
7D
9.2%
1Y
-61.5%
539895
₹38.52
Spice Lounge Food Works
7D
25.3%
1Y
182.0%
539607
₹23.77
Blue Cloud Softech Solutions
7D
31.3%
1Y
-17.6%
TCS
₹2,692.20
Tata Consultancy Services
7D
-8.5%
1Y
-31.6%

TCS: AI Partnerships And New US Units Will Drive Future Upside

Analysts have modestly adjusted their price outlook for Tata Consultancy Services, reflecting updated assumptions for the discount rate, long term revenue growth, profit margins and future P/E levels. Together, these changes fine tune their overall valuation framework without a material shift in fair value.
501421
₹6,114.30
TechNVision Ventures
7D
2.9%
1Y
52.3%
LTIM
₹5,115.50
LTIMindtree
7D
-8.0%
1Y
-7.2%

LTIM: AI Tax And Cyber Contracts Will Drive Future Upside Potential

Analysts have made a marginal upward adjustment to their price target for LTIMindtree to ₹6,391.33 from ₹6,391.08, reflecting updated inputs for discount rate, revenue growth, profit margin and forward P/E assumptions in their models. What's in the News LTIMindtree won the Insight 2.0 project from the Central Board of Direct Taxes to build an AI powered tax analytics platform for India.
TECHM
₹1,534.40
Tech Mahindra
7D
-5.3%
1Y
-7.5%

TECHM: AI Partnerships And Execution On Margin Discipline Will Support Future Upside

The updated analyst price target for Tech Mahindra has increased from ₹2,043.82 to ₹2,182.48, with analysts citing adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E as the main drivers of this change. Analyst Commentary Recent updates to Tech Mahindra’s price target reflect a more constructive tone from bullish analysts, who are reassessing the company’s potential execution on growth, profitability and valuation.
526433
₹2,771.40
ASM Technologies
7D
9.1%
1Y
118.1%
507685
₹214.10
Wipro
7D
-7.2%
1Y
-30.5%