High Growth Tech Stocks in India to Watch This September 2024

The Indian market has gained 1.7% recently and is up 41% over the last 12 months, with earnings expected to grow by 17% per annum. In this thriving environment, identifying high-growth tech stocks that align with these robust market conditions can be crucial for investors looking to capitalize on the 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%	★★★★★★
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%	★★★★★☆
Avalon Technologies	20.11%	42.50%	★★★★★☆
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 dive into some prime choices out of from the screener.

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 ₹338.64 billion.

Operations: Kaynes Technology India generates revenue primarily from its Electronics System Design and Manufacturing (ESDM) segment, amounting to ₹20.11 billion. The company focuses on providing integrated electronics manufacturing solutions both domestically and internationally.

Kaynes Technology India has demonstrated impressive growth, with earnings rising 90.7% over the past year, significantly outpacing the electronic industry's 22.6%. The recent inauguration of its advanced manufacturing facility in Hyderabad enhances its capabilities across sectors like automotive and aerospace. Revenue is forecast to grow at an annual rate of 28.5%, while earnings are expected to increase by 31.1% per year, surpassing the Indian market's average growth rate of 17.1%.

• Take a closer look at Kaynes Technology India's potential here in our health report.

• Learn about Kaynes Technology India's historical performance.

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 ₹1.02 trillion.

Operations: Revenue primarily comes from recruitment solutions, which generated ₹19.05 billion, followed by real estate services with ₹3.67 billion.

Info Edge (India) has seen its earnings grow 23.61% annually, outpacing the Indian market's 17.1%. The company's revenue is also forecasted to increase by 13% per year, benefiting from its strong presence in online classifieds and recruitment services. Recently, Info Edge reported a net income of ₹2.33 billion for Q1 2024 compared to ₹1.59 billion a year ago, showcasing robust financial health. The appointment of seasoned professionals like Mr. Hoonar Janu as Senior Vice President highlights their strategic focus on policy and digital transformation initiatives.

• Click to explore a detailed breakdown of our findings in Info Edge (India)'s health report.

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

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 ₹1.46 trillion.

Operations: Tech Mahindra Limited generates revenue primarily from IT Services (₹439.48 billion) and Business Process Outsourcing (BPO) (₹78.94 billion). The company operates across multiple geographies, offering a range of technology solutions.

Tech Mahindra's earnings are projected to grow at 28.9% annually, outpacing the Indian market's 17.1%. Despite a recent 42.7% decline in earnings, their R&D expenditure highlights their commitment to innovation, with significant investments aimed at ORAN and 6G technologies through partnerships like Northeastern University. Their net profit margin has decreased from 8.2% to 4.9%, yet they remain a prominent player in telecom solutions, leveraging expertise for large-scale network deployments and cybersecurity advancements with Horizon3.ai’s NodeZero™ platform integration.

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

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

Next Steps

• Click here to access our complete index of 38 Indian High Growth Tech and AI Stocks.
• Have a stake in these businesses? Integrate your holdings into Simply Wall St's portfolio for notifications and detailed stock reports.
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Want To Explore Some Alternatives?

• 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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