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Indian (NIFTY) IT Consulting Industry Analysis

UpdatedMar 07, 2026
DataAggregated Company Financials
Companies156
  • 7D-2.1%
  • 3M-21.9%
  • 1Y-23.4%
  • YTDn/a

Over the last 7 days, the IT Consulting industry has dropped 2.1%, driven by a pullback from Tata Consultancy Services of 3.0%. Overall the industry is down 23% in 12 months. Earnings are forecast to grow by 10% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Mar 2026₹25.8t₹8.9t₹1.3t19.4x20.1x2.9x
Mon, 02 Feb 2026₹32.5t₹8.9t₹1.3t23.7x25.3x3.6x
Wed, 31 Dec 2025₹32.7t₹8.7t₹1.3t24.9x25x3.8x
Fri, 28 Nov 2025₹32.2t₹8.7t₹1.3t24.9x24.7x3.7x
Sun, 26 Oct 2025₹31.1t₹8.6t₹1.3t27.5x24x3.6x
Tue, 23 Sep 2025₹30.8t₹8.5t₹1.3t27x23.9x3.6x
Thu, 21 Aug 2025₹31.0t₹8.5t₹1.3t27.8x24.2x3.7x
Sat, 19 Jul 2025₹32.2t₹8.4t₹1.3t30.1x25.4x3.8x
Mon, 16 Jun 2025₹33.7t₹8.3t₹1.3t31.1x26.9x4x
Wed, 14 May 2025₹33.0t₹8.3t₹1.3t27x26.3x4x
Fri, 11 Apr 2025₹29.3t₹8.3t₹1.3t24.7x23.4x3.6x
Sun, 09 Mar 2025₹33.7t₹8.3t₹1.3t26.6x26.8x4.1x
Tue, 04 Feb 2025₹37.2t₹8.2t₹1.2t32.5x29.9x4.6x
Thu, 02 Jan 2025₹38.3t₹8.0t₹1.2t35.2x31.8x4.8x
Sat, 30 Nov 2024₹38.5t₹8.0t₹1.2t38.5x32.1x4.8x
Mon, 28 Oct 2024₹37.3t₹7.9t₹1.2t36.1x31.2x4.7x
Wed, 25 Sep 2024₹38.2t₹7.8t₹1.2t39.7x32.7x4.9x
Fri, 23 Aug 2024₹38.2t₹7.8t₹1.2t39.3x32.7x4.9x
Sun, 21 Jul 2024₹36.8t₹7.8t₹1.2t37.5x31.6x4.7x
Tue, 18 Jun 2024₹32.3t₹7.7t₹1.1t33.3x28.3x4.2x
Thu, 16 May 2024₹31.4t₹7.8t₹1.1t35.8x27.7x4.1x
Sat, 13 Apr 2024₹33.0t₹7.7t₹1.1t37x29.7x4.3x
Mon, 11 Mar 2024₹34.7t₹7.7t₹1.1t33.7x31.3x4.5x
Wed, 07 Feb 2024₹35.4t₹7.7t₹1.1t42.6x31.9x4.6x
Fri, 05 Jan 2024₹32.4t₹7.8t₹1.1t42.1x28.4x4.2x
Sun, 03 Dec 2023₹31.0t₹7.8t₹1.1t38.5x27.1x4x
Tue, 31 Oct 2023₹28.7t₹7.7t₹1.1t39.3x25.5x3.8x
Thu, 28 Sep 2023₹30.3t₹7.6t₹1.1t36.1x27x4x
Sat, 26 Aug 2023₹28.7t₹7.6t₹1.1t34.8x25.6x3.8x
Mon, 24 Jul 2023₹28.0t₹7.5t₹1.1t32.1x25x3.7x
Wed, 21 Jun 2023₹27.4t₹7.4t₹1.1t33.6x24.9x3.7x
Fri, 19 May 2023₹26.5t₹7.4t₹1.1t28x24x3.6x
Sun, 16 Apr 2023₹26.8t₹7.2t₹1.1t24.3x24.6x3.7x
Tue, 14 Mar 2023₹27.6t₹7.1t₹1.1t23.7x25.6x3.9x
Price to Earnings Ratio

25.6x


Total Market Cap: ₹27.6tTotal Earnings: ₹1.1tTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Consulting Industry Price to Earnings3Y Average 27.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian IT Consulting and Other Services 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 20.1x which is lower than its 3-year average PE of 27.3x.
  • The 3-year average PS ratio of 4.1x is higher than the industry's current PS ratio of 2.9x.
Past Earnings Growth
  • The earnings for companies in the IT Consulting and Other Services industry have grown 6.0% per year over the last three years.
  • Revenues for these companies have grown 8.1% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Indian IT Consulting compare with similar industries?

IN Market-3.02%
Tech-2.39%
IT-2.10%
IT Consulting-2.09%
Data Processing Services-3.41%
Internet Services and Infrastructure-9.87%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
INFY Infosys₹1.31k0.6%
+₹33.6b		-22.4%PE18x
PERSISTENT Persistent Systems₹4.78k0.9%
+₹6.6b		-9.5%PE41.2x
TECHD TechD Cybersecurity₹498.1031.7%
+₹896.8m		n/aPE35.6x
511144 Axis Solutions₹170.755.0%
+₹382.8m		n/aPE31.4x
538713 Atishay₹205.1018.7%
+₹356.9m		34.6%PE29.3x

Latest News

538713
₹205.10
Atishay
7D
18.7%
1Y
34.6%
TECHM
₹1,331.70
Tech Mahindra
7D
-1.9%
1Y
-10.8%

TECHM: AI Partnerships And Margin Discipline Will Support Future Upside

Analysts have inched up their fair value estimate for Tech Mahindra to ₹2,196 from ₹2,182, reflecting slightly higher assumptions for revenue growth, profit margins and the future P/E multiple in their updated price target work. Analyst Commentary Bullish analysts are reading the recent tweak to Tech Mahindra's fair value estimate as a sign that assumptions around growth, profitability and the P/E multiple still support a constructive view on the stock.
TECHD
₹498.10
TechD Cybersecurity
7D
31.7%
1Y
n/a
TECHLABS
₹213.45
Trident Techlabs
7D
9.5%
1Y
-76.0%
COFORGE
₹1,162.90
Coforge
7D
-1.9%
1Y
-24.6%
507685
₹195.50
Wipro
7D
-2.7%
1Y
-31.3%

AI Adoption And Margin Pressures Will Shape A Balanced Long Term Outlook

Catalysts About Wipro Wipro is a global IT services and consulting company that provides technology, engineering and business process services across multiple sectors and regions. What are the underlying business or industry changes driving this perspective?
526299
₹2,215.85
Mphasis
7D
-3.5%
1Y
-3.7%

AI Agent Adoption In BFSI Will Transform This IT Services Leader

Catalysts About Mphasis Mphasis is an IT services company focused on application development, modernization, cloud and AI led transformation for global enterprises, with a strong presence in BFSI and insurance. What are the underlying business or industry changes driving this perspective?
533982
₹380.95
Tera Software
7D
6.3%
1Y
102.2%
HCLTECH
₹1,356.70
HCL Technologies
7D
-2.3%
1Y
-12.9%

HCLTECH: AI Partnerships And New Client Wins Will Support Upside Potential

Analysts have trimmed their price target for HCL Technologies by about ₹27 to roughly ₹1,740. This reflects small tweaks to fair value estimates, discount rate assumptions and expected future P/E levels, while keeping revenue growth and profit margin expectations broadly in line with earlier views.
HEXT
₹459.90
Hexaware Technologies
7D
-2.9%
1Y
-41.2%

AI Adoption And Legacy Modernization Will Reshape Long Term Outcomes For This Business

Catalysts About Hexaware Technologies Hexaware Technologies is an IT and business process services company focused on application development, IT infrastructure, data, cloud, business process services and related digital solutions for global clients. What are the underlying business or industry changes driving this perspective?
INFY
₹1,308.40
Infosys
7D
0.6%
1Y
-22.4%

INFY: AI Business Mix Reset Will Support 2026 Repricing Potential

Analysts have trimmed their average Infosys price target by about ₹50, reflecting slightly higher discount rates and modestly softer assumptions for revenue growth and profit margins as AI related business mix risks are reassessed. Analyst Commentary Recent Street research around Infosys reflects a mixed setup, with some analysts recalibrating expectations lower while others are incrementally more constructive on the medium term opportunity set.
PERSISTENT
₹4,777.50
Persistent Systems
7D
0.9%
1Y
-9.5%
TCS
₹2,557.60
Tata Consultancy Services
7D
-3.0%
1Y
-29.2%

TCS: AI Alliances And New US Units Will Support Future Upside

Analysts have trimmed their price target on Tata Consultancy Services by about ₹34 to reflect a slightly higher discount rate and marginally softer fair value and margin assumptions, while keeping revenue growth and future P/E expectations broadly unchanged. What's in the News QAD | Redzone entered a long term alliance with TCS to help mid market manufacturers modernize ERP and scale AI driven operations, combining QAD | Redzone's manufacturing platform with TCS's global delivery and engineering capabilities (Key Developments).
LTM
₹4,292.00
LTIMindtree
7D
-3.8%
1Y
-9.1%

LTIM: AI Tax Mandate Will Drive Future Upside Potential

Analysts have made a small trim to their price target on LTIMindtree, nudging it from ₹6,391.33 to ₹6,376.75 as they refresh their model inputs for discount rate, revenue growth, profit margin and forward P/E assumptions. What's in the News The board approved a proposed change of name from "LTIMindtree Limited" to "LTM Limited", with the change subject to shareholder and regulatory approvals and updates to the Memorandum and Articles of Association (board meeting held on February 11, 2026).
511144
₹170.75
Axis Solutions
7D
5.0%
1Y
n/a
ACCELYA
₹1,218.60
Accelya Solutions India
7D
1.8%
1Y
-7.5%

Accelya Solutions India's (NSE:ACCELYA) Performance Is Even Better Than Its Earnings Suggest

Feb 07
Accelya Solutions India's (NSE:ACCELYA) Performance Is Even Better Than Its Earnings Suggest