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Indian (NIFTY) IT Consulting Industry Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies156
  • 7D1.9%
  • 3M9.3%
  • 1Y-12.0%
  • YTDn/a

In the last week, the IT Consulting industry is up 1.9%, with Infosys up 4.7%. During this same period, the TechNVision Ventures underperformed, falling 15%. However, the industry is down 12% 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
Mon, 19 Jan 2026₹33.3t₹8.8t₹1.3t24.3x26x3.8x
Wed, 17 Dec 2025₹32.8t₹8.8t₹1.3t24.7x25x3.7x
Fri, 14 Nov 2025₹31.7t₹8.7t₹1.3t26.6x24.4x3.7x
Sun, 12 Oct 2025₹30.8t₹8.6t₹1.3t27x23.9x3.6x
Tue, 09 Sep 2025₹29.9t₹8.5t₹1.3t26x23.3x3.5x
Thu, 07 Aug 2025₹30.0t₹8.5t₹1.3t27.8x23.4x3.5x
Sat, 05 Jul 2025₹34.0t₹8.3t₹1.2t30.1x27.2x4.1x
Mon, 02 Jun 2025₹33.1t₹8.3t₹1.3t30.2x26.4x4x
Wed, 30 Apr 2025₹31.9t₹8.3t₹1.3t26.4x25.5x3.8x
Fri, 28 Mar 2025₹33.4t₹8.2t₹1.3t27x26.7x4.1x
Sun, 23 Feb 2025₹36.0t₹8.3t₹1.3t29.2x28.7x4.4x
Tue, 21 Jan 2025₹37.4t₹8.1t₹1.2t34.7x30.1x4.6x
Thu, 19 Dec 2024₹40.3t₹8.0t₹1.2t37.8x33.6x5x
Sat, 16 Nov 2024₹37.8t₹8.0t₹1.2t39x31.6x4.7x
Mon, 14 Oct 2024₹38.0t₹7.9t₹1.2t41.4x32.3x4.8x
Wed, 11 Sep 2024₹39.0t₹7.8t₹1.2t39.7x33.4x5x
Fri, 09 Aug 2024₹35.5t₹7.8t₹1.2t38x30.4x4.5x
Sun, 07 Jul 2024₹34.7t₹7.7t₹1.1t37.4x30.3x4.5x
Tue, 04 Jun 2024₹30.6t₹7.7t₹1.1t33.7x26.9x4x
Thu, 02 May 2024₹31.4t₹7.7t₹1.1t37.5x27.7x4.1x
Sat, 30 Mar 2024₹32.6t₹7.7t₹1.1t31.7x29.3x4.2x
Mon, 26 Feb 2024₹35.2t₹7.7t₹1.1t36.1x31.7x4.6x
Wed, 24 Jan 2024₹34.1t₹7.8t₹1.1t39.9x29.9x4.4x
Fri, 22 Dec 2023₹33.0t₹7.8t₹1.1t41.9x28.9x4.2x
Sun, 19 Nov 2023₹30.2t₹7.7t₹1.1t36x26.6x3.9x
Tue, 17 Oct 2023₹29.8t₹7.6t₹1.1t35.2x26.3x3.9x
Thu, 14 Sep 2023₹30.5t₹7.6t₹1.1t35.3x27.2x4x
Sat, 12 Aug 2023₹28.8t₹50.3t-₹25,484,007,822,316.0034.6x-1.1x0.6x
Mon, 10 Jul 2023₹27.9t₹7.4t₹1.1t32.7x25.4x3.8x
Wed, 07 Jun 2023₹27.2t₹7.4t₹1.1t30.8x24.7x3.7x
Fri, 05 May 2023₹26.6t₹7.4t₹1.1t25.5x24.1x3.6x
Sun, 02 Apr 2023₹27.1t₹7.1t₹1.1t23.3x25.1x3.8x
Tue, 28 Feb 2023₹28.1t₹7.1t₹1.1t23.7x26x4x
Thu, 26 Jan 2023₹28.8t₹7.0t₹1.1t25.8x26.8x4.1x
Price to Earnings Ratio

26.8x


Total Market Cap: ₹28.8tTotal Earnings: ₹1.1tTotal Revenue: ₹7.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian IT Consulting Industry Price to Earnings3Y Average 27.5x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian IT Consulting and Other Services 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 27.5x.
  • 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 Consulting and Other Services industry have grown 6.0% per year over the last three years.
  • Revenues for these companies have grown 8.0% 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 Market0.026%
Tech1.60%
IT1.93%
IT Consulting1.92%
Internet Services and Infrastructure7.47%
Data Processing Services1.65%
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₹1.69k4.7%
+₹306.4b		-6.9%PE23.5x
HCLTECH HCL Technologies₹1.70k2.2%
+₹99.3b		-5.1%PE26.8x
LTIM LTIMindtree₹6.31k4.5%
+₹80.3b		7.1%PE38.4x
TECHM Tech Mahindra₹1.67k5.6%
+₹78.2b		0.6%PE32x
507685 Wipro₹267.252.0%
+₹56.1b		-5.2%PE21.1x

Latest News

TECHM
₹1,670.50
Tech Mahindra
7D
5.6%
1Y
0.6%
507685
₹267.25
Wipro
7D
2.0%
1Y
-5.2%
INFY
₹1,689.80
Infosys
7D
4.7%
1Y
-6.9%

Infosys Limited Just Missed Earnings - But Analysts Have Updated Their Models

Jan 17
Infosys Limited Just Missed Earnings - But Analysts Have Updated Their Models
HCLTECH
₹1,698.00
HCL Technologies
7D
2.2%
1Y
-5.1%
TCS
₹3,206.70
Tata Consultancy Services
7D
-0.03%
1Y
-22.2%
HEXT
₹738.50
Hexaware Technologies
7D
1.2%
1Y
n/a
506109
₹342.35
Genesys International
7D
-18.1%
1Y
-65.7%
501421
₹6,200.00
TechNVision Ventures
7D
-15.3%
1Y
76.6%
HAPPSTMNDS
₹426.85
Happiest Minds Technologies
7D
-3.1%
1Y
-40.7%

HAPPSTMNDS: Enterprise AI Co Worker Rollout Will Support Stronger Long Term Returns

Analysts have trimmed their price target for Happiest Minds Technologies from ₹725.00 to ₹710.00, citing updated assumptions for revenue growth, profit margins and future P/E levels in their valuation work. What's in the News Happiest Minds Technologies launched ELAIRA, an intelligent digital co worker integrated with its ELLIPSE 2.0 platform.
COFORGE
₹1,732.30
Coforge
7D
3.0%
1Y
0.2%

COFORGE: Future Fundraise And Investor Rights Changes Will Pressure Returns

Analysts have lifted their fair value estimate for Coforge from ₹1,333.87 to ₹1,402.87, reflecting updated assumptions around revenue growth, profit margins and future P/E expectations. What's in the News Board meeting scheduled for Dec 26, 2025, to consider raising funds via equity issuance or other eligible securities, potentially through private placement, qualified institutions placement, preferential issue, or a combination of methods, subject to approvals (Board Meeting).
PERSISTENT
₹6,403.00
Persistent Systems
7D
-0.2%
1Y
7.4%

PERSISTENT: Elevated P/E And XT Studio Expansion Will Restrain Future Returns

Analysts have raised their fair value estimate for Persistent Systems from ₹3,934.70 to ₹4,274.73, citing updated assumptions related to revenue growth, profit margins and future P/E expectations. What's in the News A board meeting is scheduled for January 19, 2026, to consider audited financial results for the quarter and nine months ended December 31, 2025, for the company and its subsidiaries, a potential issuance of equity shares, an interim dividend, and other matters (Key Developments).
526299
₹2,886.80
Mphasis
7D
1.7%
1Y
2.5%

526299: AI And Quantum Offerings Will Drive Future Earnings Quality

Analysts have nudged their fair value estimate for Mphasis from ₹3,064.34 to ₹3,156.57, citing updated assumptions around revenue growth, profit margins, and future P/E expectations. What's in the News Mphasis has scheduled a board meeting on January 22, 2026, to consider and approve audited standalone and consolidated financial results for the quarter ended December 31, 2025, along with the auditor's report and other matters (company filing).
534535
₹142.45
String Metaverse
7D
-18.5%
1Y
210.4%
LTIM
₹6,308.00
LTIMindtree
7D
4.5%
1Y
7.1%

LTIM: Future Performance Will Reflect AI Partnerships While Remaining Fairly Valued

Analysts have raised their price target on LTIMindtree to ₹6,087.68 from ₹5,867.44, citing small adjustments to fair value estimates, the discount rate, revenue growth, profit margin, and future P/E assumptions in their updated models. What's in the News A board meeting is scheduled for January 19, 2026 to review and approve unaudited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025, along with the statutory auditor's limited review reports (Board Meeting).
SONATSOFTW
₹339.05
Sonata Software
7D
-3.6%
1Y
-40.6%

SONATSOFTW: Global Alliance And Upcoming Dividend Decision Will Support Future Upside

Analysts have adjusted their price target on Sonata Software slightly higher to ₹422.00 from about ₹420.57, reflecting updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples. What's in the News A board meeting is scheduled on November 13, 2025, to review and approve unaudited standalone and consolidated financial results for the second quarter and half year ended September 30, 2025 (company filing).
526433
₹2,897.55
ASM Technologies
7D
-3.4%
1Y
96.5%