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

Indian (NIFTY) Tech Sector Analysis

UpdatedAug 22, 2026
DataAggregated Company Financials
Companies369
  • 7D-2.0%
  • 3M5.6%
  • 1Y-12.9%
  • YTD-15.9%

Over the last 7 days, the Tech industry has dropped 2.3%, driven by pullbacks in Tata Consultancy Services and Infosys of 2.5% and 4.1%, respectively. Overall the industry is down 13% in 12 months. Looking forward, earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

Has the Indian Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 22 Aug 2026₹34.0t₹13.0t₹1.6t23.1x21.2x2.6x
Mon, 20 Jul 2026₹32.6t₹12.7t₹1.6t25x20.5x2.6x
Wed, 17 Jun 2026₹32.1t₹12.5t₹1.6t24.7x20.7x2.6x
Fri, 15 May 2026₹30.7t₹12.3t₹1.6t25.1x19.8x2.5x
Sun, 12 Apr 2026₹33.4t₹12.1t₹1.5t24.9x22.1x2.8x
Tue, 10 Mar 2026₹31.9t₹12.0t₹1.5t22.5x21.4x2.7x
Thu, 05 Feb 2026₹38.0t₹11.8t₹1.5t26.8x25.7x3.2x
Sat, 03 Jan 2026₹40.2t₹11.6t₹1.5t29.9x26.8x3.5x
Mon, 01 Dec 2025₹39.9t₹11.5t₹1.5t32.9x26.7x3.5x
Wed, 29 Oct 2025₹39.0t₹11.4t₹1.5t33.4x26.5x3.4x
Fri, 26 Sep 2025₹38.0t₹11.2t₹1.5t34.1x26x3.4x
Sun, 24 Aug 2025₹38.0t₹11.1t₹1.4t32.5x26.2x3.4x
Tue, 22 Jul 2025₹39.2t₹10.9t₹1.4t34.1x27.7x3.6x
Thu, 19 Jun 2025₹41.1t₹10.9t₹1.4t35x29.2x3.8x
Sat, 17 May 2025₹40.6t₹10.8t₹1.4t31.7x29.1x3.8x
Mon, 14 Apr 2025₹35.4t₹10.7t₹1.4t28.9x25.6x3.3x
Wed, 12 Mar 2025₹39.2t₹10.7t₹1.4t31x28.2x3.7x
Fri, 07 Feb 2025₹44.8t₹10.6t₹1.4t38.7x32.4x4.2x
Sun, 05 Jan 2025₹47.2t₹10.3t₹1.3t43.4x35.4x4.6x
Tue, 03 Dec 2024₹46.8t₹10.2t₹1.3t41.8x35.4x4.6x
Thu, 31 Oct 2024₹44.6t₹10.1t₹1.3t42.6x33.9x4.4x
Sat, 28 Sep 2024₹45.4t₹9.9t₹1.3t41.6x35.9x4.6x
Mon, 26 Aug 2024₹44.4t₹9.8t₹1.3t43.6x35x4.5x
Wed, 24 Jul 2024₹43.0t₹9.8t₹1.3t42.6x34.1x4.4x
Fri, 21 Jun 2024₹38.4t₹9.7t₹1.2t41.3x31.1x4x
Sun, 19 May 2024₹36.8t₹9.7t₹1.2t45.4x29.8x3.8x
Tue, 16 Apr 2024₹37.5t₹9.7t₹1.2t45.1x30.8x3.9x
Thu, 14 Mar 2024₹39.2t₹9.6t₹1.2t39.8x32.6x4.1x
Sat, 10 Feb 2024₹40.2t₹9.5t₹1.2t45x33.4x4.2x
Mon, 08 Jan 2024₹37.5t₹9.5t₹1.2t46.7x30.5x3.9x
Wed, 06 Dec 2023₹35.3t₹9.5t₹1.2t42.8x28.7x3.7x
Fri, 03 Nov 2023₹32.9t₹9.4t₹1.2t41.6x26.9x3.5x
Sun, 01 Oct 2023₹33.8t₹9.3t₹1.2t40.5x27.8x3.6x
Tue, 29 Aug 2023₹32.5t₹9.3t₹1.2t38.8x26.9x3.5x
Price to Earnings Ratio

26.9x


Total Market Cap: ₹32.5tTotal Earnings: ₹1.2tTotal Revenue: ₹9.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Tech Sector Price to Earnings3Y Average 28.5x202420252026
Current Industry PE
  • Investors are pessimistic on the Indian Information Technology 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 21.3x which is lower than its 3-year average PE of 28.5x.
  • The 3-year average PS ratio of 3.7x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 9.7% per year over the last three years.
  • Revenues for these companies have grown 12% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Tech sector?

IN Market-0.20%
Tech-1.97%
Tech Hardware7.17%
Electronic Equipment and Components2.14%
Semiconductors0.67%
Software-0.25%
Communications-2.40%
IT-2.91%
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 39.6%, which is higher than its past year's earnings growth of 16.3% per year.
  • Investors are most pessimistic about the IT industry, which is trading below its 3-year average of 26.4x.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 40% over the next 5 years.
  • This is better than its past earnings growth rate of 16% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 8.5% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
COFORGE Coforge₹1.89k4.4%
+₹35.3b		8.2%PE47.7x
NETWEB Netweb Technologies India₹5.60k11.9%
+₹33.8b		141.2%PE122.4x
AVALON Avalon Technologies₹2.18k12.5%
+₹16.2b		155.7%PE109.1x
PREMIERENE Premier Energies₹1.05k3.5%
+₹16.2b		4.4%PE28.7x
KAYNES Kaynes Technology India₹3.89k6.3%
+₹15.4b		-37.3%PE75.4x

Latest News

NETWEB
₹5,601.00
Netweb Technologies India
7D
11.9%
1Y
141.2%
AVALON
₹2,183.80
Avalon Technologies
7D
12.5%
1Y
155.7%
Narrative Update • Aug 20

AVALON: Fair Value View Links Board Results To Earnings Power

Avalon Technologies' analyst fair value estimate has been revised from ₹2,211 to ₹2,400, reflecting updated assumptions on growth, margins and discount rate that align with analysts' more constructive macro backdrop and earnings expectations. What’s in the News for Avalon Technologies Avalon Technologies has scheduled a board meeting for August 4, 2026.
TCS
₹2,302.00
Tata Consultancy Services
7D
-2.5%
1Y
-24.6%
Narrative Update • Aug 18

TCS: JFK Digital Terminal Partnership Will Drive Future ReRating Potential

Analysts now set a revised fair value price target for Tata Consultancy Services at ₹3,125, compared with the prior ₹3,228, reflecting updated views on discount rate assumptions, revenue, profit margin expectations, and future P/E multiples. What's in the News F1R3FLY Limited joined the Tata Consultancy Services Alliances and Partnerships ecosystem, with both companies working together to deploy F1R3FLY's concurrent computing on the TCS SovereignSecure Cloud to address enterprise cloud data security and compute infrastructure needs.
COFORGE
₹1,891.70
Coforge
7D
4.4%
1Y
8.2%
Narrative Update • Aug 18

COFORGE: AI Expansion And China Entry Will Support Balanced Medium-Term Upside

Analysts have raised their price target for Coforge from ₹1,719.86 to ₹1,904.40, based on updated assumptions regarding fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News for Coforge Coforge launched a new business unit focused on the private equity sector that uses the Coforge Nuuron AI operating system to support portfolio-wide technology and operational programs.
HEXT
₹532.45
Hexaware Technologies
7D
-6.6%
1Y
-33.4%
507685
₹180.50
Wipro
7D
-1.8%
1Y
-27.4%
Narrative Update • Aug 14

507685: AI Alliances And Buyback Will Shape Measured Medium Term Outlook

Analysts have trimmed their price target on Wipro to ₹177.75 from ₹197.28, citing updated assumptions that include a slightly higher discount rate, more measured revenue growth expectations, a broadly stable profit margin outlook, and a lower future P/E multiple. What’s in the News for Wipro Wipro and Rubrik launched Enterprise Resilience as a Service (ERaaS), which is built on Rubrik’s cyber and data resilience platform and uses Wipro Intelligence and the WINGS delivery platform to support prevention, rapid recovery, and automated resilience workflows across technology and business processes.
REDINGTON
₹350.55
Redington
7D
4.9%
1Y
44.1%
Narrative Update • Aug 13

REDINGTON: New Partnerships And AI Cloud Focus Will Drive Future Upside

Analysts have raised their price target on Redington from ₹379 to ₹409 as they update their models to reflect a slightly lower revenue growth assumption, modestly higher profit margins, a small adjustment in the discount rate, and a marginal change in the expected future P/E. What’s in the News for Redington Redington scheduled a board meeting on July 29, 2026 to consider and approve unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
INFY
₹1,121.00
Infosys
7D
-4.1%
1Y
-24.6%
Narrative Update • Aug 13

INFY: AI Pricing And Productivity Shift Will Shape Medium Term Upside Potential

Analysts have reduced their fair value estimate for Infosys to ₹1,478 from ₹1,705 as price targets across the Street move lower on weaker Q1 results, reduced revenue guidance, and ongoing concerns about AI driven pricing and productivity pressures. Analyst Commentary on Infosys Recent research on Infosys points to a more cautious tone after the Q1 miss and guidance cut, with several firms trimming price targets and downgrading ratings.
LTM
₹4,487.80
LTM
7D
-4.8%
1Y
-14.1%
Narrative Update • Aug 13

LTM: Sector Tailwinds And Earnings Momentum Will Support Future Upside

Analysts have trimmed their fair value estimate for Latam Airlines to ₹5,688.67 from ₹7,353.07, reflecting lower assumed revenue growth and profit margins as well as a reduced future P/E, even as recent research highlights improving sector conditions after geopolitical de escalation, along with expectations for steady air travel penetration and more rational competition. Analyst Commentary on Latam Airlines Recent Street research on Latam Airlines highlights a broadly constructive tone, with bullish analysts emphasizing both the sector backdrop and company specific attributes.
TECHM
₹1,584.00
Tech Mahindra
7D
-3.0%
1Y
5.2%
Narrative Update • Aug 12

TECHM: AI Partnerships And Margin Discipline Will Drive Future Upside Potential

Analysts have modestly lifted their fair value estimate for Tech Mahindra to ₹1,951 from ₹1,897, reflecting updated assumptions on revenue growth, profit margins, and a slightly different forward P/E framework. Analyst Commentary Recent Street research around Tech Mahindra sits against a backdrop of busy corporate activity in the wider technology and life sciences space.
HCLTECH
₹1,302.50
HCL Technologies
7D
-4.2%
1Y
-11.2%
Narrative Update • Aug 12

HCLTECH: AI Data Centres And New Deals Will Support Steady Outlook

Analysts have reduced their fair value estimate for HCL Technologies from about ₹1,551 to around ₹1,517. This reflects updated assumptions for discount rates, revenue growth, profit margins and future P/E multiples.
KAYNES
₹3,890.00
Kaynes Technology India
7D
6.3%
1Y
-37.3%
Narrative Update • Aug 10

KAYNES: Governance Decisions And Revised Assumptions Will Shape Measured Long Term Outlook

Analysts have lifted their price target for Kaynes Technology India from about ₹3,405 to roughly ₹3,669, citing model updates that reflect adjusted assumptions on revenue growth, profit margins, and future P/E levels. What’s in the News for Kaynes Technology India Board meeting scheduled on Aug 07, 2026 at 12:20 IST to consider unaudited standalone and consolidated financial results for the quarter ended Jun 30, 2026.
PREMIERENE
₹1,053.00
Premier Energies
7D
3.5%
1Y
4.4%
Analysis Article • Aug 09

Premier Energies Limited (NSE:PREMIERENE) Just Released Its First-Quarter Results And Analysts Are Updating Their Estimates

It's been a good week for Premier Energies Limited ( NSE:PREMIERENE ) shareholders, because the company has just...
504375
₹649.50
IDream Film Infrastructure
7D
8.2%
1Y
305.8%
PERSISTENT
₹5,667.50
Persistent Systems
7D
1.6%
1Y
5.6%
Narrative Update • Aug 07

PERSISTENT: AI Expansion And Nagarro Bid Will Shape Balanced Long-Term Outlook

Analysts have lifted their price target on Persistent Systems from ₹5,090.71 to ₹5,504.74 as they factor in updated assumptions for revenue growth, profit margins and the stock's future P/E profile. What's in the News for Persistent Systems On August 03, 2026, Persistent Systems held its 36th AGM and approved a final dividend of ₹18 per equity share of face value ₹5, taking the total dividend for the year to ₹40 per share.
526299
₹2,431.00
Mphasis
7D
-5.4%
1Y
-14.6%
Narrative Update • Jul 22

526299: Future Returns Will Likely Be Pressured By Lower Profitability Assumptions

Analysts have trimmed their price target on Mphasis from ₹2,164.64 to ₹2,044.86, reflecting updated assumptions for discount rate, revenue growth, profit margins, and future P/E levels. What’s in the News for Mphasis Mphasis scheduled a board meeting for July 23, 2026, to consider and approve audited standalone and consolidated financial results for the quarter ended June 30, 2026, along with the auditor's report.