High Growth Tech Stocks in India for August 2024

The market has climbed by 3.4% over the past week, with every sector up and the Financials sector leading. In the last year, the market has climbed 44%. Earnings are forecast to grow by 17% annually. In such a dynamic environment, identifying high growth tech stocks that align with these robust market conditions can be crucial for investors looking to capitalize on India's burgeoning technology sector.

Top 10 High Growth Tech Companies In India

Name	Revenue Growth	Earnings Growth	Growth Rating
Tips Industries	24.69%	24.16%	★★★★★★
Newgen Software Technologies	21.83%	22.72%	★★★★★★
Sonata Software	13.29%	29.79%	★★★★★☆
Happiest Minds Technologies	21.99%	21.80%	★★★★★★
C. E. Info Systems	29.94%	26.97%	★★★★★★
Netweb Technologies India	33.65%	35.61%	★★★★★★
Sterlite Technologies	21.41%	101.08%	★★★★★☆
Tejas Networks	23.05%	63.54%	★★★★★☆
Avalon Technologies	20.10%	41.52%	★★★★★☆
INOX Leisure	17.73%	66.63%	★★★★★☆

Click here to see the full list of 38 stocks from our Indian High Growth Tech and AI Stocks screener.

Here's a peek at a few of the choices from the screener.

Happiest Minds Technologies (NSEI:HAPPSTMNDS)

Simply Wall St Growth Rating: ★★★★★★

Overview: Happiest Minds Technologies Limited offers IT solutions and services across various regions including India, the United States, Canada, the United Kingdom, Australia, and several others, with a market cap of ₹123.32 billion.

Operations: The company provides IT solutions and services across multiple regions, generating revenue primarily from Infrastructure Management & Security Services (IMSS), which contributes ₹3.02 billion. The segment adjustment amounts to ₹13.69 billion.

Happiest Minds Technologies has shown robust growth with a 22% annual revenue increase, outpacing the Indian market's 10% growth rate. The company's earnings are forecast to grow at 21.8% per year, significantly higher than the industry average of 16.9%. Notably, their R&D expenditure underscores a commitment to innovation; for instance, they invested ₹1.2 billion in R&D last year alone. Recent board expansions and new service offerings like Watch360 further position them as a dynamic player in the IT services sector.

• Take a closer look at Happiest Minds Technologies' potential here in our health report.

• Evaluate Happiest Minds Technologies' historical performance by accessing our past performance report.

Newgen Software Technologies (NSEI:NEWGEN)

Simply Wall St Growth Rating: ★★★★★★

Overview: Newgen Software Technologies Limited is a software company that offers software products and solutions across various regions including India, Europe, the Middle East, Africa, the Asia Pacific, Australia, and the United States with a market cap of ₹150.39 billion.

Operations: The company generates revenue primarily from its Software & Programming segment, amounting to ₹13.07 billion. It operates across multiple regions including India, Europe, the Middle East, Africa, the Asia Pacific, Australia, and the United States.

Newgen Software Technologies is poised for significant growth, with revenue projected to increase by 21.8% annually and earnings expected to grow 22.7% per year, outpacing the Indian market's average of 16.9%. The firm's R&D expenditure highlights a strong commitment to innovation, investing ₹1.2 billion in the last fiscal year alone. Their recent launch of LumYn, an AI-powered hyper-personalization platform for banking, underscores their focus on cutting-edge solutions that enhance customer experience and operational efficiency.

• Click to explore a detailed breakdown of our findings in Newgen Software Technologies' health report.

• Assess Newgen Software Technologies' past performance with our detailed historical performance reports.

PVR INOX (NSEI:PVRINOX)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: PVR INOX Limited is a theatrical exhibition company involved in the exhibition, distribution, and production of movies in India and Sri Lanka with a market cap of ₹148.67 billion.

Operations: The company primarily generates revenue from movie exhibition, amounting to ₹59.48 billion, with additional adjustments contributing ₹3.29 billion.

PVR INOX is expected to achieve profitability within the next three years, with revenue projected to grow at 12.3% annually, outpacing the Indian market's average of 10%. Recent expansions include a new 9-screen multiplex in Ahmedabad and a luxury cinema in Udaipur, enhancing their presence in Central and West India. Despite reporting a net loss of ₹1.79 billion for Q1 2024, earnings are forecasted to grow by an impressive 60.6% per year.

• Click here to discover the nuances of PVR INOX with our detailed analytical health report.

• Understand PVR INOX's track record by examining our Past report.

Key Takeaways

• Embark on your investment journey to our 38 Indian High Growth Tech and AI Stocks selection here.
• Shareholder in one or more of these companies? Ensure you're never caught off-guard by adding your portfolio in Simply Wall St for timely alerts on significant stock developments.
• Simply Wall St is a revolutionary app designed for long-term stock investors, it's free and covers every market in the world.

Ready To Venture Into Other Investment Styles?

• Explore high-performing small cap companies that haven't yet garnered significant analyst attention.
• Fuel your portfolio with companies showing strong growth potential, backed by optimistic outlooks both from analysts and management.
• Find companies with promising cash flow potential yet trading below their fair value.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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