High Growth Tech Stocks In India Featuring Coforge And 2 Others

The Indian market has stayed flat over the past 7 days but is up 44% over the past year, with earnings forecast to grow by 17% annually. In this environment, identifying high-growth tech stocks like Coforge and two others can be crucial for investors looking to capitalize on robust growth potential.

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%	★★★★★★
Happiest Minds Technologies	22.15%	22.22%	★★★★★★
Coforge	14.16%	22.47%	★★★★★☆
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	20.12%	41.74%	★★★★★☆
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.

Let's uncover some gems from our specialized screener.

Coforge (NSEI:COFORGE)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Coforge Limited provides IT and IT-enabled services across various regions, including India, the Americas, Europe, the Middle East and Africa, and the Asia Pacific, with a market cap of ₹427.35 billion.

Operations: Coforge Limited's primary revenue stream comes from its Software Solutions segment, generating ₹93.59 billion. The company operates in various regions, including India, the Americas, Europe, the Middle East and Africa, and the Asia Pacific.

Coforge's recent collaboration with Salesforce to launch Coforge ENZO, an environmental and net-zero offering, underscores its commitment to innovative solutions in sustainability. The company's revenue is projected to grow 14.2% annually, outpacing the broader Indian market's 10% growth rate. Despite a net income of ₹1.33 billion for Q1 2024, down from ₹1.65 billion last year, earnings are forecasted to rise by 22.5% per year. R&D expenses have been strategically allocated towards AI and digital transformation initiatives.

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

• Examine Coforge's past performance report to understand how it has performed in the past.

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 ₹777.20 billion.

Operations: Persistent Systems Limited 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 India, North America, and international markets.

Persistent Systems has demonstrated robust growth, with earnings forecast to increase by 19.2% annually, surpassing the Indian market's 16.9%. The company's revenue is projected to grow at 13.6% per year, reflecting its strong market position and innovative solutions like the GenAI Hub for enterprise AI applications. Persistent's focus on R&D is evident with substantial investments aimed at digital transformation initiatives, contributing significantly to its competitive edge in the tech industry.

• 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: Tech Mahindra generates revenue primarily from IT Services (₹439.48 billion) and Business Process Outsourcing (₹78.94 billion). The company's net profit margin is 10%.

Tech Mahindra's earnings are forecast to grow significantly at 29.1% annually, outpacing the Indian market's 16.9%. Despite a recent -42.7% earnings growth, the company's robust R&D investments, including collaborations in ORAN and 6G with Northeastern University, highlight its commitment to innovation. Additionally, Tech Mahindra spends a substantial portion of its revenue on R&D efforts, ensuring it remains competitive in telecom and AI sectors while addressing penalties related to GST assessments from previous years.

• Take a closer look at Tech Mahindra's potential here in our health report.

• Assess Tech Mahindra's past performance with our detailed historical performance reports.

Turning Ideas Into Actions

• Unlock our comprehensive list of 38 Indian High Growth Tech and AI Stocks by clicking here.
• Have you diversified into these companies? Leverage the power of Simply Wall St's portfolio to keep a close eye on market movements affecting your investments.
• Unlock the power of informed investing with Simply Wall St, your free guide to navigating stock markets worldwide.

Interested In Other Possibilities?

• 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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