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Indian (NIFTY) IT Industry Analysis

UpdatedDec 21, 2025
DataAggregated Company Financials
Companies160
  • 7D1.1%
  • 3M4.9%
  • 1Y-15.6%
  • YTD-14.3%

The IT industry is up 1.1% in the last week, with Tata Consultancy Services up 1.9%. However, the industry is down 16% over the past year. Looking forward, earnings are forecast to grow by 8.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 22 Dec 2025₹33.4t₹8.7t₹1.3t25.4x25.6x3.8x
Wed, 19 Nov 2025₹31.3t₹8.7t₹1.3t25.8x24.1x3.6x
Fri, 17 Oct 2025₹30.8t₹8.6t₹1.3t28x23.9x3.6x
Sun, 14 Sep 2025₹31.4t₹8.5t₹1.3t26.9x24.3x3.7x
Tue, 12 Aug 2025₹30.1t₹8.5t₹1.3t26.8x23.5x3.5x
Thu, 10 Jul 2025₹33.7t₹8.3t₹1.3t29.9x26.9x4x
Sat, 07 Jun 2025₹32.9t₹8.3t₹1.3t29.2x26.2x3.9x
Mon, 05 May 2025₹31.9t₹8.3t₹1.2t26.3x25.6x3.9x
Wed, 02 Apr 2025₹32.3t₹8.2t₹1.3t27x25.8x3.9x
Fri, 28 Feb 2025₹34.6t₹8.3t₹1.3t27.5x27.5x4.2x
Sun, 26 Jan 2025₹38.3t₹8.1t₹1.2t34.4x30.9x4.7x
Tue, 24 Dec 2024₹38.8t₹8.0t₹1.2t36x32.3x4.8x
Thu, 21 Nov 2024₹37.2t₹8.0t₹1.2t34.3x31x4.7x
Sat, 19 Oct 2024₹37.8t₹7.9t₹1.2t40.3x31.8x4.8x
Mon, 16 Sep 2024₹39.6t₹7.8t₹1.2t41.1x33.9x5.1x
Wed, 14 Aug 2024₹36.0t₹7.8t₹1.2t38x30.8x4.6x
Fri, 12 Jul 2024₹34.4t₹7.7t₹1.1t36.9x30x4.4x
Sun, 09 Jun 2024₹32.8t₹7.8t₹1.1t33.1x28.7x4.2x
Tue, 07 May 2024₹31.7t₹7.8t₹1.1t38.2x27.9x4.1x
Thu, 04 Apr 2024₹32.9t₹7.7t₹1.1t35.4x29.6x4.3x
Sat, 02 Mar 2024₹35.0t₹7.7t₹1.1t35.8x31.5x4.5x
Mon, 29 Jan 2024₹34.1t₹7.8t₹1.1t41.5x30.1x4.4x
Wed, 27 Dec 2023₹33.5t₹7.8t₹1.1t41.9x29.3x4.3x
Fri, 24 Nov 2023₹30.4t₹7.7t₹1.1t37.1x26.8x3.9x
Sun, 22 Oct 2023₹29.5t₹7.7t₹1.1t39.3x26x3.9x
Tue, 19 Sep 2023₹30.7t₹7.6t₹1.1t37.4x27.3x4.1x
Thu, 17 Aug 2023₹29.1t₹7.6t₹1.1t35.5x25.9x3.8x
Sat, 15 Jul 2023₹29.1t₹7.5t₹1.1t32.3x26x3.9x
Mon, 12 Jun 2023₹26.9t₹7.4t₹1.1t32.4x24.5x3.6x
Wed, 10 May 2023₹26.9t₹7.4t₹1.1t26.4x24.3x3.6x
Fri, 07 Apr 2023₹27.2t₹7.1t₹1.1t23.9x25.2x3.8x
Sun, 05 Mar 2023₹29.0t₹7.4t₹1.1t25.1x27.1x3.9x
Tue, 31 Jan 2023₹29.5t₹7.3t₹1.1t26.5x27.7x4x
Thu, 29 Dec 2022₹28.2t₹7.1t₹1.1t25.7x26.9x4x
Price to Earnings Ratio

26.9x


Total Market Cap: ₹28.2tTotal Earnings: ₹1.1tTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Industry Price to Earnings3Y Average 27.6x202320242025
Current Industry PE
  • Investors are relatively neutral on the Indian IT 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 27.6x.
  • The industry is trading close to its 3-year average PS ratio of 4.1x.
Past Earnings Growth
  • The earnings for companies in the IT industry have grown 7.6% per year over the last three years.
  • Revenues for these companies have grown 6.9% 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 Market-0.11%
Tech0.78%
IT1.09%
Data Processing Services1.43%
IT Consulting1.10%
Internet Services and Infrastructure-1.84%
Industry PE
  • Investors are most optimistic about the Data Processing Services industry which is trading above its 3-year average PE ratio of 47.4x.
    • Analysts are expecting annual earnings growth of 17.1%, which is lower than the prior year's growth of 21.2% per year.
  • Investors are most pessimistic about the IT Consulting industry, which is trading close to its 3-year average of 27.5x.
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 roughly in line with its past earnings growth rate.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 8.2% 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
TCS Tata Consultancy Services₹3.28k1.9%
+₹222.5b		-21.3%PE24x
INFY Infosys₹1.64k2.5%
+₹167.9b		-14.7%PE23.2x
507685 Wipro₹264.351.5%
+₹39.8b		-13.4%PE20.5x
TECHM Tech Mahindra₹1.61k2.2%
+₹30.2b		-4.4%PE31.8x
HEXT Hexaware Technologies₹792.554.0%
+₹18.8b		n/aPE34.7x

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Tata Consultancy Services
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Persistent Systems
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