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Indian (NIFTY) IT Consulting Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies156
  • 7D-3.9%
  • 3M-24.4%
  • 1Y-23.2%
  • YTDn/a

Over the last 7 days, the IT Consulting industry has dropped 2.3%, driven by Tata Consultancy Services declining 5.8%. However, the industry is down 22% over the past 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, 14 Mar 2026₹24.8t₹9.0t₹1.3t19.9x19.3x2.8x
Mon, 09 Feb 2026₹30.2t₹8.9t₹1.3t23x23.7x3.4x
Wed, 07 Jan 2026₹32.7t₹8.7t₹1.3t25x25x3.7x
Fri, 05 Dec 2025₹33.0t₹8.7t₹1.3t25.3x25.2x3.8x
Sun, 02 Nov 2025₹31.0t₹8.7t₹1.3t28x23.8x3.6x
Tue, 30 Sep 2025₹29.3t₹8.6t₹1.3t25.9x22.7x3.4x
Thu, 28 Aug 2025₹31.4t₹8.5t₹1.3t26.2x24.4x3.7x
Sat, 26 Jul 2025₹31.1t₹8.5t₹1.3t28.9x24.4x3.7x
Mon, 23 Jun 2025₹34.0t₹8.4t₹1.3t30.2x27x4.1x
Wed, 21 May 2025₹33.0t₹8.3t₹1.3t28.4x26.3x4x
Fri, 18 Apr 2025₹30.0t₹8.3t₹1.3t26.9x23.9x3.6x
Sun, 16 Mar 2025₹32.3t₹8.3t₹1.3t25.5x25.7x3.9x
Tue, 11 Feb 2025₹37.4t₹8.2t₹1.2t31.8x29.9x4.6x
Thu, 09 Jan 2025₹38.5t₹8.0t₹1.2t34.9x32x4.8x
Sat, 07 Dec 2024₹40.0t₹8.0t₹1.2t37.2x33.4x5x
Mon, 04 Nov 2024₹36.3t₹8.0t₹1.2t37.1x30.3x4.6x
Wed, 02 Oct 2024₹38.4t₹7.8t₹1.2t38.5x32.9x4.9x
Fri, 30 Aug 2024₹39.0t₹7.8t₹1.2t39.8x33.4x5x
Sun, 28 Jul 2024₹37.7t₹7.8t₹1.2t40.6x32.3x4.8x
Tue, 25 Jun 2024₹32.7t₹7.7t₹1.1t35x28.6x4.2x
Thu, 23 May 2024₹31.6t₹7.7t₹1.1t36.1x27.8x4.1x
Sat, 20 Apr 2024₹31.7t₹7.8t₹1.1t37.6x27.8x4.1x
Mon, 18 Mar 2024₹35.1t₹7.7t₹1.1t33.5x31.6x4.6x
Wed, 14 Feb 2024₹35.4t₹7.7t₹1.1t38.4x31.9x4.6x
Fri, 12 Jan 2024₹32.9t₹7.8t₹1.1t41.7x28.8x4.2x
Sun, 10 Dec 2023₹31.8t₹7.8t₹1.1t38.8x27.8x4.1x
Tue, 07 Nov 2023₹29.1t₹7.7t₹1.1t37.8x25.7x3.8x
Thu, 05 Oct 2023₹29.7t₹7.6t₹1.1t35.7x26.4x3.9x
Sat, 02 Sep 2023₹29.1t₹7.6t₹1.1t35.5x26x3.9x
Mon, 31 Jul 2023₹27.8t₹7.5t₹1.1t32.2x24.9x3.7x
Wed, 28 Jun 2023₹27.2t₹7.4t₹1.1t33.1x24.7x3.7x
Fri, 26 May 2023₹27.4t₹7.4t₹1.1t26x24.8x3.7x
Sun, 23 Apr 2023₹25.8t₹7.2t₹1.1t25.2x23.6x3.6x
Tue, 21 Mar 2023₹26.8t₹7.1t₹1.1t23.2x24.8x3.8x
Price to Earnings Ratio

24.8x


Total Market Cap: ₹26.8tTotal 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 19.6x 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 2.8x.
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-4.42%
Tech-3.48%
IT-3.85%
IT Consulting-3.86%
Internet Services and Infrastructure-0.11%
Data Processing Services-0.54%
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
507685 Wipro₹197.551.0%
+₹21.5b		-25.2%PE15.6x
HAPPSTMNDS Happiest Minds Technologies₹393.2516.5%
+₹8.4b		-41.2%PE31.8x
538734 Ceinsys Tech₹968.757.1%
+₹1.1b		-31.9%PE14.6x
RSYSTEMS R Systems International₹266.903.2%
+₹995.2m		-18.2%PE17x
TECHM Tech Mahindra₹1.33k0.08%
+₹974.1m		-7.5%PE25.5x

Latest News

INFY
₹1,248.30
Infosys
7D
-4.6%
1Y
-21.0%
HEXT
₹411.35
Hexaware Technologies
7D
-10.6%
1Y
-45.8%
RSYSTEMS
₹266.90
R Systems International
7D
3.2%
1Y
-18.2%
544626
₹347.50
Exato Technologies
7D
12.4%
1Y
n/a
HAPPSTMNDS
₹393.25
Happiest Minds Technologies
7D
16.5%
1Y
-41.2%
COFORGE
₹1,089.70
Coforge
7D
-6.3%
1Y
-25.3%

COFORGE: AI Platforms And Margins Will Guide Balanced Return Potential

Analysts have reduced their price target for Coforge from about ₹1,308 to around ₹1,145 as they reset fair value and P/E assumptions, while making only modest tweaks to growth and margin forecasts. What's in the News Coforge launched and later advanced its Coforge Data Cosmos platform, an AI-enabled, cloud-native data and analytics offering structured around five portfolios, with 55+ IPs, 38 AI agents, and sector focused Galaxy solutions across areas such as banking, insurance, travel, healthcare and public sector (Key Developments).
TCS
₹2,410.50
Tata Consultancy Services
7D
-5.8%
1Y
-31.3%

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.
PERSISTENT
₹4,638.80
Persistent Systems
7D
-2.9%
1Y
-9.5%

PERSISTENT: Dividend Payout And AI Expansion Will Support Upbeat Outlook

Analysts have trimmed their price target on Persistent Systems from about ₹6,818 to roughly ₹6,603, mainly reflecting a slightly higher discount rate applied to broadly unchanged expectations for revenue growth, profit margins, and future P/E multiples. What's in the News Persistent Systems launched a Melbourne Innovation Center as a hub for AI driven enterprise reinvention across Australia and New Zealand, with plans to grow local engineering and AI capabilities through hiring, partnerships, hackathons and skilling programs under Persistent University (Key Developments).
LTM
₹4,206.50
LTIMindtree
7D
-2.0%
1Y
-5.8%

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
₹1,332.80
Tech Mahindra
7D
0.08%
1Y
-7.5%

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.
507685
₹197.55
Wipro
7D
1.0%
1Y
-25.2%

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
₹2,113.80
Mphasis
7D
-4.6%
1Y
-4.2%

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?
HCLTECH
₹1,325.40
HCL Technologies
7D
-2.3%
1Y
-13.6%

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.
538734
₹968.75
Ceinsys Tech
7D
7.1%
1Y
-31.9%
HGS
₹367.15
Hinduja Global Solutions
7D
4.5%
1Y
-24.8%
511144
₹179.25
Axis Solutions
7D
5.0%
1Y
n/a