Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Indian (NIFTY) IT Consulting Industry Analysis

UpdatedMar 21, 2026
DataAggregated Company Financials
Companies156
  • 7D0.05%
  • 3M-25.2%
  • 1Y-24.4%
  • YTDn/a

Over the last 7 days, the IT Consulting industry has dropped 3.6%, driven by declines in Tata Consultancy Services and Wipro of 0.8% and 3.3%, respectively. The industry has fallen 26% in the last year. As for the next few years, earnings are expected to grow by 10% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026₹24.8t₹9.0t₹1.3t19.3x19.2x2.8x
Mon, 16 Feb 2026₹27.8t₹8.9t₹1.3t22x21.8x3.1x
Wed, 14 Jan 2026₹32.9t₹8.8t₹1.3t24.3x25.6x3.7x
Fri, 12 Dec 2025₹32.8t₹8.7t₹1.3t24.2x25x3.8x
Sun, 09 Nov 2025₹30.4t₹8.7t₹1.3t27.4x23.4x3.5x
Tue, 07 Oct 2025₹30.1t₹8.6t₹1.3t26.7x23.3x3.5x
Thu, 04 Sep 2025₹30.8t₹8.5t₹1.3t26.9x24x3.6x
Sat, 02 Aug 2025₹30.1t₹8.5t₹1.3t28x23.5x3.5x
Mon, 30 Jun 2025₹33.9t₹8.3t₹1.3t30.1x27.1x4.1x
Wed, 28 May 2025₹33.2t₹8.3t₹1.3t28.6x26.5x4x
Fri, 25 Apr 2025₹31.5t₹8.3t₹1.2t28.2x25.3x3.8x
Sun, 23 Mar 2025₹32.9t₹8.2t₹1.3t26.8x26.2x4x
Tue, 18 Feb 2025₹36.2t₹8.1t₹1.2t29x29.1x4.4x
Thu, 16 Jan 2025₹38.5t₹8.1t₹1.2t34.5x31.5x4.8x
Sat, 14 Dec 2024₹40.9t₹8.0t₹1.2t38.7x34.1x5.1x
Mon, 11 Nov 2024₹37.7t₹8.0t₹1.2t37.7x31.5x4.7x
Wed, 09 Oct 2024₹38.2t₹7.8t₹1.2t38x32.7x4.9x
Fri, 06 Sep 2024₹39.0t₹7.8t₹1.2t39.7x33.4x5x
Sun, 04 Aug 2024₹36.6t₹7.8t₹1.2t40x31.4x4.7x
Tue, 02 Jul 2024₹34.1t₹7.7t₹1.1t37.7x29.8x4.4x
Thu, 30 May 2024₹31.5t₹7.7t₹1.1t32.6x27.6x4.1x
Sat, 27 Apr 2024₹31.8t₹7.7t₹1.1t35.9x28.1x4.1x
Mon, 25 Mar 2024₹32.9t₹7.7t₹1.1t32.5x29.6x4.3x
Wed, 21 Feb 2024₹35.1t₹7.7t₹1.1t36.3x31.6x4.6x
Fri, 19 Jan 2024₹34.5t₹7.8t₹1.1t42.3x30.3x4.4x
Sun, 17 Dec 2023₹33.8t₹7.8t₹1.1t42.4x29.6x4.3x
Tue, 14 Nov 2023₹28.8t₹7.7t₹1.1t37.5x25.4x3.7x
Thu, 12 Oct 2023₹30.4t₹7.6t₹1.1t35x27x4x
Sat, 09 Sep 2023₹29.9t₹7.6t₹1.1t36.4x26.6x3.9x
Mon, 07 Aug 2023₹28.6t₹7.5t₹1.1t32.8x25.5x3.8x
Wed, 05 Jul 2023₹28.1t₹7.4t₹1.1t33.5x25.5x3.8x
Fri, 02 Jun 2023₹27.9t₹7.4t₹1.1t28.9x25.3x3.8x
Sun, 30 Apr 2023₹26.4t₹7.4t₹1.1t25.6x24x3.6x
Tue, 28 Mar 2023₹26.4t₹7.1t₹1.1t23.2x24.5x3.7x
Price to Earnings Ratio

24.5x


Total Market Cap: ₹26.4tTotal Earnings: ₹1.1tTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Consulting Industry Price to Earnings3Y Average 27.2x202420252026
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 18.9x which is lower than its 3-year average PE of 27.2x.
  • The 3-year average PS ratio of 4.1x is higher than the industry's current PS ratio of 2.7x.
Past Earnings Growth
  • The earnings for companies in the IT Consulting and Other Services industry have grown 6.2% per year over the last three years.
  • Revenues for these companies have grown 8.2% 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-0.17%
Tech0.89%
IT0.045%
IT Consulting0.05%
Data Processing Services-1.80%
Internet Services and Infrastructure-2.16%
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
TECHM Tech Mahindra₹1.38k3.9%
+₹46.1b		-1.7%PE26.5x
INFY Infosys₹1.26k0.6%
+₹30.8b		-21.1%PE16.9x
LTM LTM₹4.30k2.2%
+₹27.4b		-4.9%PE26.8x
HCLTECH HCL Technologies₹1.33k0.6%
+₹22.5b		-14.9%PE20.5x
HEXT Hexaware Technologies₹439.456.8%
+₹17.2b		-39.7%PE19.6x

Latest News

INFY
₹1,255.90
Infosys
7D
0.6%
1Y
-21.1%
PERSISTENT
₹4,716.70
Persistent Systems
7D
1.7%
1Y
-10.6%
MASTEK
₹1,449.50
Mastek
7D
-3.2%
1Y
-37.8%
HEXT
₹439.45
Hexaware Technologies
7D
6.8%
1Y
-39.7%
526299
₹2,092.05
Mphasis
7D
-1.0%
1Y
-13.9%

AI Modernization Pipeline Will Shape Banking Exposure And Margin Stability

Catalysts About Mphasis Mphasis is an IT services company that provides application, infrastructure and AI led solutions to global clients, with a large presence in banking, financial services and insurance. What are the underlying business or industry changes driving this perspective?
507685
₹191.05
Wipro
7D
-3.3%
1Y
-27.7%

AI Adoption And Vendor Consolidation Will Drive Stronger Long Term Earnings Quality

Catalysts About Wipro Wipro is a global IT services and consulting company that provides technology, engineering and business process solutions to clients across multiple industries and regions. What are the underlying business or industry changes driving this perspective?
TCS
₹2,390.60
Tata Consultancy Services
7D
-0.8%
1Y
-33.2%

TCS: AI Partnerships And New Outsourcing Wins Will Support Future Upside

Analysts now see slightly less upside for Tata Consultancy Services, trimming their price target from ₹3,583.72 to ₹3,497.86. They are factoring in a marginally higher discount rate and a modestly lower future P/E, while keeping revenue growth and profit margin expectations broadly steady.
532175
₹825.05
Cyient
7D
-5.1%
1Y
-37.3%

532175: Future Returns Will Likely Reflect Governance Changes And Expansion Plans

Analysts have trimmed their price target on Cyient from ₹1,000 to ₹930, citing updated assumptions that include a slightly higher discount rate, a modestly different revenue growth outlook, a small change in projected profit margins, and a revised future P/E expectation. What's in the News Board meeting scheduled on Mar 3, 2026 to consider appointing Shrinivas Kulkarni as Chief Financial Officer from Apr 1, 2026, with current CFO Prabhakar Atla proposed to move to Chief Operating Officer on the same date (Board Meeting).
LTM
₹4,298.80
LTM
7D
2.2%
1Y
-4.9%

LTM: AI Tax Analytics Mandate Will Drive Future Upside Potential

Analysts have trimmed their price target on LTIMindtree from ₹6,376.75 to ₹6,219.67. This reflects small shifts in assumptions around the discount rate, long term revenue growth, profit margin and future P/E multiples.
TECHM
₹1,384.80
Tech Mahindra
7D
3.9%
1Y
-1.7%

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.
HCLTECH
₹1,333.70
HCL Technologies
7D
0.6%
1Y
-14.9%

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.
539895
₹27.80
Spice Lounge Food Works
7D
-4.6%
1Y
151.6%
500463
₹504.40
Black Box
7D
1.6%
1Y
39.8%
SAKSOFT
₹119.57
Saksoft
7D
-6.3%
1Y
-26.6%
534535
₹121.00
String Metaverse
7D
-5.0%
1Y
33.3%