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Indian (NIFTY) IT Consulting Industry Analysis

UpdatedFeb 14, 2026
DataAggregated Company Financials
Companies155
  • 7D-8.1%
  • 3M-11.2%
  • 1Y-24.4%
  • YTDn/a

Over the last 7 days, the IT Consulting industry has dropped 7.9%, driven by a pullback from Tata Consultancy Services of 8.5%. Meanwhile, Spice Lounge Food Works actually outperformed within the industry, gaining 25% in the last week. Overall the industry is down 23% in 12 months. 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
Sat, 14 Feb 2026₹27.8t₹8.9t₹1.3t22x21.8x3.1x
Mon, 12 Jan 2026₹32.6t₹8.7t₹1.3t24.7x24.9x3.7x
Wed, 10 Dec 2025₹32.8t₹8.7t₹1.3t24.9x25.1x3.8x
Fri, 07 Nov 2025₹30.6t₹8.7t₹1.3t26.5x23.6x3.5x
Sun, 05 Oct 2025₹29.5t₹8.6t₹1.3t25.6x22.8x3.4x
Tue, 02 Sep 2025₹31.0t₹8.5t₹1.3t26.7x24.1x3.6x
Thu, 31 Jul 2025₹30.7t₹8.5t₹1.3t28.6x24x3.6x
Sat, 28 Jun 2025₹33.9t₹8.3t₹1.3t29.8x27.1x4.1x
Mon, 26 May 2025₹33.1t₹8.3t₹1.3t28.5x26.5x4x
Wed, 23 Apr 2025₹30.4t₹8.3t₹1.2t27.5x24.5x3.7x
Fri, 21 Mar 2025₹32.8t₹8.3t₹1.3t26x26.2x4x
Sun, 16 Feb 2025₹36.5t₹8.1t₹1.2t29.2x29.3x4.5x
Tue, 14 Jan 2025₹39.2t₹8.1t₹1.2t34.7x32.1x4.9x
Thu, 12 Dec 2024₹40.4t₹8.0t₹1.2t38.1x33.7x5.1x
Sat, 09 Nov 2024₹37.7t₹8.0t₹1.2t39x31.5x4.7x
Mon, 07 Oct 2024₹37.9t₹7.8t₹1.2t35.8x32.5x4.8x
Wed, 04 Sep 2024₹39.2t₹7.8t₹1.2t39.7x33.6x5x
Fri, 02 Aug 2024₹37.5t₹7.8t₹1.2t40.1x32.1x4.8x
Sun, 30 Jun 2024₹33.5t₹7.7t₹1.1t35.2x29.3x4.3x
Tue, 28 May 2024₹31.8t₹7.7t₹1.1t35.4x28x4.1x
Thu, 25 Apr 2024₹31.7t₹7.7t₹1.1t37.3x27.9x4.1x
Sat, 23 Mar 2024₹32.9t₹7.7t₹1.1t32.5x29.6x4.3x
Mon, 19 Feb 2024₹35.6t₹7.7t₹1.1t35.9x32.1x4.6x
Wed, 17 Jan 2024₹34.4t₹7.8t₹1.1t42.6x30.3x4.4x
Fri, 15 Dec 2023₹32.3t₹7.8t₹1.1t42.1x28.3x4.1x
Sun, 12 Nov 2023₹28.8t₹7.7t₹1.1t36.4x25.4x3.7x
Tue, 10 Oct 2023₹30.3t₹7.6t₹1.1t35.4x26.9x4x
Thu, 07 Sep 2023₹29.7t₹7.6t₹1.1t36.1x26.5x3.9x
Sat, 05 Aug 2023₹28.6t₹7.6t₹1.1t32.8x25.5x3.8x
Mon, 03 Jul 2023₹27.9t₹7.4t₹1.1t33.6x25.4x3.8x
Wed, 31 May 2023₹27.8t₹7.4t₹1.1t25.1x25.1x3.7x
Fri, 28 Apr 2023₹26.2t₹7.2t₹1.1t25.1x24x3.6x
Sun, 26 Mar 2023₹26.4t₹7.1t₹1.1t23.6x24.5x3.7x
Tue, 21 Feb 2023₹29.4t₹7.1t₹1.1t25.3x27.2x4.1x
Price to Earnings Ratio

27.2x


Total Market Cap: ₹29.4tTotal 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 22.1x 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 3.2x.
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-0.39%
Tech-6.87%
IT-8.04%
IT Consulting-8.05%
Internet Services and Infrastructure-0.44%
Data Processing Services-6.23%
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
539895 Spice Lounge Food Works₹38.5225.3%
+₹5.4b		182.0%PE380x
526433 ASM Technologies₹2.77k9.1%
+₹3.4b		118.1%PE67.4x
500463 Black Box₹544.802.9%
+₹2.6b		20.1%PE43.6x
539607 Blue Cloud Softech Solutions₹23.7731.3%
+₹2.5b		-17.6%PE19.8x
538891 Magellanic Cloud₹27.559.2%
+₹1.4b		-61.5%PE15.2x

Latest News

544626
₹386.60
Exato Technologies
7D
22.6%
1Y
n/a
500463
₹544.80
Black Box
7D
2.9%
1Y
20.1%
HCLTECH
₹1,455.20
HCL Technologies
7D
-8.7%
1Y
-15.0%

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).
COFORGE
₹1,361.80
Coforge
7D
-11.9%
1Y
-12.6%
INFY
₹1,369.10
Infosys
7D
-9.2%
1Y
-26.2%

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
₹5,479.00
Persistent Systems
7D
-6.4%
1Y
-1.5%

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
538891
₹27.55
Magellanic Cloud
7D
9.2%
1Y
-61.5%
519602
₹17.96
Kellton Tech Solutions
7D
14.6%
1Y
-29.0%
539895
₹38.52
Spice Lounge Food Works
7D
25.3%
1Y
182.0%
539607
₹23.77
Blue Cloud Softech Solutions
7D
31.3%
1Y
-17.6%
TCS
₹2,692.20
Tata Consultancy Services
7D
-8.5%
1Y
-31.6%

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.
501421
₹6,114.30
TechNVision Ventures
7D
2.9%
1Y
52.3%
LTIM
₹5,115.50
LTIMindtree
7D
-8.0%
1Y
-7.2%

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
₹1,534.40
Tech Mahindra
7D
-5.3%
1Y
-7.5%

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.
526433
₹2,771.40
ASM Technologies
7D
9.1%
1Y
118.1%
507685
₹214.10
Wipro
7D
-7.2%
1Y
-30.5%