High Growth Tech Stocks in India to Watch This September 2024

The Indian market has gained 1.7% this month and climbed 41% over the past year, with earnings forecasted to grow by 17% annually. In light of these robust conditions, identifying high growth tech stocks becomes crucial for investors looking to capitalize on the market's momentum.

Top 10 High Growth Tech Companies In India

Name	Revenue Growth	Earnings Growth	Growth Rating
Tips Music	24.69%	24.16%	★★★★★★
Newgen Software Technologies	21.66%	22.51%	★★★★★★
Coforge	14.32%	22.54%	★★★★★☆
Happiest Minds Technologies	22.15%	22.22%	★★★★★★
C. E. Info Systems	29.94%	26.97%	★★★★★★
Netweb Technologies India	33.65%	35.61%	★★★★★★
Syrma SGS Technology	21.86%	32.67%	★★★★★☆
Sterlite Technologies	21.41%	101.08%	★★★★★☆
Tejas Networks	23.05%	63.54%	★★★★★☆
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.

We'll examine a selection from our screener results.

Kaynes Technology India (NSEI:KAYNES)

Simply Wall St Growth Rating: ★★★★★☆

Overview: Kaynes Technology India Limited operates as an end-to-end and IoT solutions-enabled integrated electronics manufacturer in India and internationally, with a market cap of ₹340.89 billion.

Operations: Kaynes Technology India Limited generates revenue primarily from its Electronics System Design and Manufacturing (ESDM) segment, which accounted for ₹20.11 billion. The company operates both domestically and internationally, focusing on integrated electronics manufacturing and IoT solutions.

Kaynes Technology India has shown remarkable growth, with earnings surging by 90.7% over the past year, outpacing the electronic industry's 22.6%. The company's revenue is projected to grow at a robust 28.5% annually, significantly faster than the Indian market's 10.1%. Their recent inauguration of a cutting-edge manufacturing facility in Hyderabad highlights their commitment to innovation and sustainability, catering to diverse sectors such as automotive and aerospace. With forecasted earnings growth of 31.1% per year, Kaynes demonstrates strong potential in India's tech landscape.

• Click to explore a detailed breakdown of our findings in Kaynes Technology India's health report.

• Evaluate Kaynes Technology India's historical performance by accessing our past performance report.

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 ₹998.03 billion.

Operations: The company generates revenue primarily from its Recruitment Solutions segment (₹19.05 billion) and also earns significant income from its 99acres real estate platform (₹3.67 billion). The focus on these segments highlights the company's diverse online classifieds portfolio within India and internationally.

Info Edge (India) has shown robust earnings growth, with net income rising to ₹2.33 billion in Q1 2024 from ₹1.59 billion a year ago. Their revenue is expected to grow at 13% annually, outpacing the Indian market's 10.1%. The company’s R&D expenses have been pivotal, with significant investments driving innovations across their platforms. Recent executive changes and strategic appointments aim to bolster public policy and revenue growth strategies, ensuring sustained momentum in India's tech landscape.

• Navigate through the intricacies of Info Edge (India) with our comprehensive health report here.

• Assess Info Edge (India)'s past performance with our detailed historical performance reports.

Tech Mahindra (NSEI:TECHM)

Simply Wall St Growth Rating: ★★★★☆☆

Overview: Tech Mahindra Limited offers information technology services and solutions across the Americas, Europe, India, and internationally, with a market cap of ₹1.46 trillion.

Operations: Tech Mahindra Limited generates revenue primarily from IT Services (₹439.48 billion) and Business Process Outsourcing (BPO) services (₹78.94 billion). The company operates across various regions, including the Americas, Europe, and India.

Tech Mahindra's earnings are projected to grow at an impressive 28.9% annually, significantly outpacing the Indian market's 17.1%. While revenue growth is forecasted at a modest 6.9%, their strategic investments in R&D, which accounted for ₹3.5 billion last year, underscore their commitment to innovation in AI and telecom sectors. Recent collaborations with Northeastern University on ORAN and Horizon3.ai on cybersecurity highlight their focus on cutting-edge technology solutions, potentially driving future growth despite regulatory challenges.

• Click here and access our complete health analysis report to understand the dynamics of Tech Mahindra.

• Learn about Tech Mahindra's historical performance.

Where To Now?

• Take a closer look at our Indian High Growth Tech and AI Stocks list of 38 companies by clicking here.
• Already own these companies? Link your portfolio to Simply Wall St and get alerts on any new warning signs to your stocks.
• Invest smarter with the free Simply Wall St app providing detailed insights into every stock market around the globe.

Ready For A Different Approach?

• 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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