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Indian (NIFTY) IT Consulting Industry Analysis

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies155
  • 7D-2.5%
  • 3M-13.3%
  • 1Y-23.7%
  • YTDn/a

Over the last 7 days, the IT Consulting industry has dropped 6.8%, driven by Tata Consultancy Services declining 7.4%. Meanwhile, Kellton Tech Solutions actually outperformed within the industry, gaining 14% in the last week. The industry has fallen 23% in the last year. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 20 Feb 2026₹27.6t₹8.9t₹1.3t20.8x21.5x3.1x
Sun, 18 Jan 2026₹33.3t₹8.8t₹1.3t24.3x26x3.8x
Tue, 16 Dec 2025₹33.1t₹8.7t₹1.3t25.4x25.2x3.8x
Thu, 13 Nov 2025₹31.9t₹8.7t₹1.3t26.3x24.5x3.7x
Sat, 11 Oct 2025₹30.8t₹8.6t₹1.3t27x23.9x3.6x
Mon, 08 Sep 2025₹30.2t₹8.5t₹1.3t26.2x23.5x3.5x
Wed, 06 Aug 2025₹30.5t₹8.5t₹1.3t29x23.8x3.6x
Fri, 04 Jul 2025₹33.8t₹8.3t₹1.2t30.4x27x4.1x
Sun, 01 Jun 2025₹33.1t₹8.3t₹1.3t30.2x26.4x4x
Tue, 29 Apr 2025₹31.6t₹8.3t₹1.2t26.3x25.3x3.8x
Thu, 27 Mar 2025₹33.7t₹8.2t₹1.3t27.5x26.9x4.1x
Sat, 22 Feb 2025₹36.0t₹8.3t₹1.3t29.2x28.7x4.4x
Mon, 20 Jan 2025₹37.3t₹8.1t₹1.2t35.3x30.1x4.6x
Wed, 18 Dec 2024₹40.2t₹8.0t₹1.2t37.8x33.5x5x
Fri, 15 Nov 2024₹37.8t₹8.0t₹1.2t38.3x31.6x4.7x
Sun, 13 Oct 2024₹38.0t₹7.9t₹1.2t41.4x32.3x4.8x
Tue, 10 Sep 2024₹38.4t₹7.8t₹1.2t39.7x32.9x4.9x
Thu, 08 Aug 2024₹36.1t₹7.8t₹1.2t37.7x30.9x4.6x
Sat, 06 Jul 2024₹34.7t₹7.7t₹1.1t39.7x30.4x4.5x
Mon, 03 Jun 2024₹30.5t₹7.7t₹1.1t34.6x26.7x3.9x
Wed, 01 May 2024₹31.4t₹7.7t₹1.1t37.5x27.7x4.1x
Fri, 29 Mar 2024₹32.3t₹7.7t₹1.1t31.4x29.1x4.2x
Sun, 25 Feb 2024₹35.2t₹7.7t₹1.1t36.1x31.7x4.6x
Tue, 23 Jan 2024₹34.3t₹7.8t₹1.1t41x30.1x4.4x
Thu, 21 Dec 2023₹32.9t₹7.8t₹1.1t41.9x28.8x4.2x
Sat, 18 Nov 2023₹30.2t₹7.7t₹1.1t37.9x26.6x3.9x
Mon, 16 Oct 2023₹29.8t₹7.6t₹1.1t35.2x26.3x3.9x
Wed, 13 Sep 2023₹30.6t₹7.6t₹1.1t35.2x27.2x4x
Fri, 11 Aug 2023₹28.8t₹7.5t₹1.1t35.3x25.7x3.8x
Sun, 09 Jul 2023₹27.9t₹7.4t₹1.1t32.7x25.4x3.8x
Tue, 06 Jun 2023₹27.7t₹7.4t₹1.1t30.2x25.1x3.7x
Thu, 04 May 2023₹26.4t₹7.4t₹1.1t26.1x23.9x3.6x
Sat, 01 Apr 2023₹27.1t₹7.1t₹1.1t23.2x25.1x3.8x
Mon, 27 Feb 2023₹28.7t₹7.1t₹1.1t24.9x26.5x4x
Price to Earnings Ratio

26.5x


Total Market Cap: ₹28.7tTotal Earnings: ₹1.1tTotal Revenue: ₹7.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Consulting Industry Price to Earnings3Y Average 27.4x202420252026
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 21.8x which is lower than its 3-year average PE of 27.4x.
  • 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 Consulting and Other Services industry have grown 5.8% per year over the last three years.
  • Revenues for these companies have grown 7.8% 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-1.63%
Tech-2.63%
IT-2.44%
IT Consulting-2.48%
Internet Services and Infrastructure11.43%
Data Processing Services-3.28%
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
501421 TechNVision Ventures₹6.78k7.3%
+₹2.9b		39.3%PE1173.5x
KODYTECH Kody Technolab₹918.3019.6%
+₹1.9b		-15.9%PE98.4x
HAPPSTMNDS Happiest Minds Technologies₹386.851.6%
+₹922.8m		-42.9%PE31.3x
519602 Kellton Tech Solutions₹19.648.3%
+₹797.0m		-23.3%PE11.3x
KSOLVES Ksolves India₹326.958.9%
+₹633.3m		-26.5%PE25.4x

Latest News

COFORGE
₹1,361.00
Coforge
7D
-4.3%
1Y
-12.7%
500389
₹18.67
Silverline Technologies
7D
27.4%
1Y
68.7%
501421
₹6,779.60
TechNVision Ventures
7D
7.3%
1Y
39.3%
519602
₹19.64
Kellton Tech Solutions
7D
8.3%
1Y
-23.3%
HAPPSTMNDS
₹386.85
Happiest Minds Technologies
7D
1.6%
1Y
-42.9%
HCLTECH
₹1,450.40
HCL Technologies
7D
-1.7%
1Y
-14.1%

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).
KSOLVES
₹326.95
Ksolves India
7D
8.9%
1Y
-26.5%
INFY
₹1,370.50
Infosys
7D
-1.1%
1Y
-24.9%

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
₹5,266.00
Persistent Systems
7D
-3.4%
1Y
-11.0%

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
544361
₹171.30
Covance Softsol
7D
16.7%
1Y
n/a
TCS
₹2,677.90
Tata Consultancy Services
7D
-2.6%
1Y
-29.1%

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.
517344
₹217.45
Mindteck (India)
7D
6.8%
1Y
9.2%
LTIM
₹4,959.50
LTIMindtree
7D
-4.8%
1Y
-8.1%

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
₹1,479.30
Tech Mahindra
7D
-3.7%
1Y
-10.8%

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.
KODYTECH
₹918.30
Kody Technolab
7D
19.6%
1Y
-15.9%
507685
₹211.25
Wipro
7D
-3.5%
1Y
-32.5%