Exploring High Growth Tech Stocks In India September 2024

The Indian market has climbed 1.0% over the last week and is up 45% over the past 12 months, with earnings forecast to grow by 17% annually. In this dynamic environment, identifying high growth tech stocks that align with these promising trends can be crucial for investors seeking robust returns.

Top 10 High Growth Tech Companies In India

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

Let's uncover some gems from our specialized screener.

Info Edge (India) (NSEI:NAUKRI)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Info Edge (India) Limited operates as an online classifieds company in the areas of recruitment, matrimony, real estate, and education and related services in India and internationally with a market cap of ₹991.54 billion.

Operations: The company generates revenue primarily from its recruitment solutions segment, contributing ₹19.05 billion, followed by the real estate platform 99acres with ₹3.67 billion. It focuses on providing various online classified services in India and internationally.

Info Edge (India) Limited has shown impressive earnings growth, with net income rising to ₹2.33 billion from ₹1.59 billion year-over-year, reflecting a 46.76% increase. The company's revenue is forecasted to grow at 13% annually, outpacing the Indian market's 10% rate and supported by robust R&D investments which stood at ₹1.24 billion last fiscal year, representing about 18% of total revenue. With earnings projected to surge by 23.6% per annum over the next three years, Info Edge's strategic focus on innovation and expansion in sectors like online recruitment and real estate classifieds positions it well for sustained growth in India's tech landscape.

• Delve into the full analysis health report here for a deeper understanding of Info Edge (India).

• Gain insights into Info Edge (India)'s historical performance by reviewing our past performance report.

Persistent Systems (NSEI:PERSISTENT)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Persistent Systems Limited provides software products, services, and technology solutions in India, North America, and internationally with a market cap of ₹759.60 billion.

Operations: Persistent Systems generates revenue from three primary segments: Healthcare & Life Sciences (₹23.88 billion), Software, Hi-Tech and Emerging Industries (₹46.41 billion), and Banking, Financial Services and Insurance (BFSI) (₹32.08 billion). The company operates across multiple geographies including India and North America.

Persistent Systems' revenue is projected to grow at 13.6% annually, outpacing the Indian market's 10%. With earnings forecasted to rise by 19.2% per year, the company demonstrates robust growth potential. Notably, Persistent has invested significantly in R&D, with expenses accounting for approximately ₹5 billion last fiscal year. The recent launch of GenAI Hub underscores their commitment to innovation in AI and software development, potentially enhancing their competitive edge and client offerings across industries like data security and enterprise solutions.

• Click here to discover the nuances of Persistent Systems with our detailed analytical health report.

• Explore historical data to track Persistent Systems' performance over time in our Past section.

Tech Mahindra (NSEI:TECHM)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Tech Mahindra Limited provides information technology services and solutions in the Americas, Europe, India, and internationally with a market cap of ₹1.45 trillion.

Operations: The company's primary revenue streams include IT Services generating ₹439.48 billion and Business Process Outsourcing (BPO) contributing ₹78.94 billion. With a market cap of ₹1.45 trillion, Tech Mahindra operates across various regions including the Americas, Europe, and India.

Tech Mahindra's earnings are projected to grow at an impressive 29.1% annually, significantly outpacing the Indian market's 17%. Despite this, revenue growth is forecasted at a modest 6.9% per year, below the industry average of 10%. The company's strategic focus on innovation is evident through its recent MoU with Northeastern University to advance ORAN and 6G technologies. With R&D expenses reaching ₹5 billion last fiscal year, Tech Mahindra demonstrates a strong commitment to developing cutting-edge solutions in telecom and AI sectors.

• Get an in-depth perspective on Tech Mahindra's performance by reading our health report here.

• Evaluate Tech Mahindra's historical performance by accessing our past performance report.

Next Steps

• Reveal the 38 hidden gems among our Indian High Growth Tech and AI Stocks screener with a single click here.
• Are any of these part of your asset mix? Tap into the analytical power of Simply Wall St's portfolio to get a 360-degree view on how they're shaping up.
• Simply Wall St is your key to unlocking global market trends, a free user-friendly app for forward-thinking investors.

Curious About Other Options?

• 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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