IT Stocks in India

Here are all 103 IT stocks in India worth ₹500 crore or more, with price, market cap, P/E and 52-week high and low. The biggest are Tata Consultancy Services, Infosys and HCL Technologies. The last two columns show how each did against the Nifty 500 over 3 months and 1 year.

Download the full list (CSV) · "vs Nifty 500" = the stock's return minus the Nifty 500's, in percentage points.

Prices as of 16 October 2026. Market value and returns from the weekly scan to 9 October 2026. Updated every weekend

IT stocks are shares of companies whose main business is supplying software services, consulting and outsourcing, mostly to overseas clients. 103 of them listed in India are worth ₹500 crore or more, split into 7 types.

Types follow NSE industry groups · data as of 9 October 2026

IT stocks are mixed mainly because 5 of the 10 report cuts in telecom, high-tech, healthcare, medicine makers or European factories. Pay rises in July–September 2026 could pull Tech Mahindra's margin below 14.0%. 44 of 103 beat the Nifty 500 at the 9 October 2026 scan, against 63 at the high in June.

What is not happening yet

• 8 of the 10 put the pickup in the next quarter or later
• 3 of the 10 flag AI tools doing work people used to do, cutting billings
• Only 1 of the 10 has my full driver read, Coforge
• I have no industry-wide research on IT yet, these lines come from company calls

The weakest IT stocks, and why

• Digitide Solutions -29.1 points against the Nifty 500 in 3 months. Customer work slipped, management says the billing comes in the next two quarters.
• Ramco Systems -26.3 points against the Nifty 500 in 3 months. Back in profit, but late software rollouts caused write-offs before and stay the worry.
• Aurionpro Solutions -23.6 points against the Nifty 500 in 3 months. Its data centre growth is promised for later quarters, not in the numbers yet.
• Silver Touch Technologies -20.5 points against the Nifty 500 in 3 months. Earnings per share up 82% in the last 12 months.

Reasons from company results and calls, 10 October 2026

The latest IT news from company results: Coforge: Operating profit grew 73% while revenue grew 36% over four quarters. Mphasis: Management says its sales pipeline is at a record. Infosys: The board named Ashiss Dash, an insider, as the new chief executive.

• Coforge results call, 14 September 2026
  • Operating profit grew 73% while revenue grew 36% over four quarters
  • Signed work due in the next year went from $1.63 billion to $2.2 billion

  In their own words (September 2026 call)

  "While the chairman's performance category received the lowest rating in the reports, this finding was not disclosed or discussed before the NRC or the board by the NRC chair and the chairman of the board."John Spate

• Mphasis results call, 24 July 2026
  • Management says its sales pipeline is at a record
  • A large customer deal should start by late August or early September
• Infosys results call, 23 July 2026
  • The board named Ashiss Dash, an insider, as the new chief executive
  • AI work is 8.2% of revenue and grew double digits from last quarter

  In their own words (July 2026 call)

  "the Board has decided today to appoint a new CEO who is coming from inside Infosys, from within, an internal candidate. His name is Ashiss Dash"Nandan Nilekani

• Wipro results call, 16 July 2026
  • Healthcare work fell 3% than a year earlier and 2.6% from last quarter
  • Clients are moving money saved from cost cuts into AI spending

  In their own words (July 2026 call)

  "The AI disruption is expanding the market, not shrinking it."Srini Pali

• Tech Mahindra results call, 16 July 2026
  • Profit margin rose from 6.4% to 14.4% over 11 quarters
  • Deals signed hit a record $3.79 billion in the year to March 2026
• HCL Technologies results call, 13 July 2026
  • Advanced AI work made $171 million in April–June 2026, up 62.1% on a year earlier
  • Engineering and research work fell 3.7% from the previous quarter

  In their own words (July 2026 call)

  "Advanced AI revenue for the quarter stood at $171 million, marking 10.6% QoQ and 62.1% YoY growth."C. Vijayakumar

• LTM results call, 11 July 2026
  • Technology and services clients grew 10.0% than a year earlier
  • AI work is running at about $150 million a year
• Tata Consultancy Services results call, 9 July 2026
  • Their medicine and healthcare clients' work shrank in April–June 2026
  • Management expects demand to come back from delayed technology work
• Persistent Systems results call, 28 June 2026
  • A merger is on, management says it is not about cutting costs
  • A customer contract worth over $125 million a year starts July–September 2026

From earnings calls, latest 14 September 2026

58 of 94 IT stocks trade below their own usual P/E, and 38 of those still grew earnings. The furthest below are Capillary Technologies India (-88%), String Metaverse (-75%) and Route Mobile (-73%). The median IT P/E is 23.6, against a usual 26.1.

"Usual" = each company's own long-run median P/E · valuation as of 17 October 2026 · no price targets

53 of 103 IT stocks have almost no debt, with debt under 0.1 times equity. The biggest are Tata Consultancy Services, Infosys and HCL Technologies. 62 of 85 grew earnings per share.

IT stocks with almost no debt (under 0.1 times equity)

Tata Consultancy Services · Infosys · HCL Technologies · Tech Mahindra · LTM · Oracle Financial Services Software · Persistent Systems · Coforge · L&T Technology Services · Tata Elxsi · Cyient · Zensar Technologies · Intellect Design Arena · Birlasoft · Tanla Platforms · Newgen Software Technologies · Seshaasai Technologies · AvenuesAI · Latent View Analytics · Capillary Technologies India · Network People Services Technologies · 63 Moons Technologies · Cigniti Technologies · Aurionpro Solutions · Shanti Educational Initiatives · Colab Platforms · BLS E-Services · Route Mobile · Protean eGov Technologies · Sasken Technologies · Zaggle Prepaid Ocean Services · Kody Technolab · Saksoft · Brightcom Group · Hypersoft Technologies · Nucleus Software Exports · Accelya Solutions India · InfoBeans Technologies · NINtec Systems · Expleo Solutions · IZMO · NIIT · Subex · Control Print · Sahana Systems · Excelsoft Technologies · Unicommerce eSolutions · TAC Infosec · String Metaverse · Unified Data- Tech Solutions · Quick Heal Technologies · Vakrangee · Optivalue Tek Consulting

Earnings growth from the latest results. Debt from the latest annual report · data as of 9 October 2026

The highest dividend-yield IT stocks are Expleo Solutions (12.3%), Alldigi Tech (7.45%) and Accelya Solutions India (7.4%). 58 of 103 paid a dividend in the last year.

Yield = last year's dividend ÷ today's price. It moves with the price · data as of 9 October 2026

What is working for IT stocks: all 9 of the 10 companies with a call sounded cautiously optimistic or positive. What is still missing: 8 of the 10 put the pickup in the next quarter or later. At the 9 October 2026 scan, 44 of 103 beat the Nifty 500.

What is working

• 6 of the 10 talk about AI work, only 3 give a revenue figure
• 5 of the 10 name a client industry that shrank or dragged on growth
• 3 of the 10 report record signed orders or a record sales pipeline
• 2 of the 10 show profit margin climbing on their own cost work

What is not happening yet

• 3 of the 10 flag AI tools doing work people used to do, cutting billings
• Only 1 of the 10 has my full driver read, Coforge
• I have no industry-wide research on IT yet, these lines come from company calls

Risks

• 5 of the 10 report cuts in telecom, high-tech, healthcare, medicine makers or European factories
• Pay rises in July–September 2026 could pull Tech Mahindra's margin below 14.0%
• Coforge raised debt and interest to pay for Encora, and withheld board reports
• HCL is putting Rs 3,500 crore into data centres with no customer wins shown

What to watch next

• July–September 2026 results, the quarter nearly every promise here points to
• Infosys growth against its 1.5% to 3.0% promise for the year to March 2027
• Tech Mahindra's margin after the July–September 2026 pay rises, 14.0% is the line
• Coforge's board review, new independent directors and a permanent chair
• Persistent's $125 million a year contract starting July–September 2026

From company results and calls, 10 October 2026

The biggest midcap IT stocks are Oracle Financial Services Software, Persistent Systems and Coforge. Of 103 IT stocks, 6 are large cap, 5 are mid cap, 92 are small cap. 14 trade under ₹100 a share.

IT stocks under ₹100

A low share price doesn't mean a small company. Market cap tells you the size.

Size by market cap · data as of 9 October 2026

NSE's Nifty IT index has 10 companies: Coforge, HCL Technologies, Infosys, LTM, Mphasis, Oracle Financial Services Software, Persistent Systems, Tata Consultancy Services, Tech Mahindra and Wipro. All 10 are in the IT list above. 8 of the 10 are ahead of the Nifty 500 over 3 months.

NSE's own member file, read on 17 October 2026. Index weights are not shown here. Checked every week

6 IT companies are in NSE's Nifty Midcap 150 index: Oracle Financial Services Software, Persistent Systems, Coforge, Mphasis, L&T Technology Services and Hexaware Technologies. Another 12 are in the Nifty Smallcap 250. By market value alone, 5 IT stocks rank between the 101st and 250th company this month.

NSE builds its index lists from six-month average market values, so its midcap list can differ from a rank on one day's value.

NSE's own member files, read on 17 October 2026. Size rank from the weekly scan to 9 October 2026

14 IT stocks trade under ₹100 a share, and 3 of them under ₹10. The biggest by market value are One Point One Solutions (₹85), Blue Cloud Softech Solutions (₹19.8) and Brightcom Group (₹9.1). 9 of the 14 have earnings per share up over 12 months, and none owes more than its equity.

A low share price says nothing about how big a company is or what it is worth. Market cap shows the size.

Prices as of 16 October 2026. Debt from the latest annual report. Updated every weekend

The top 10 IT stocks for October 2026 are: 1. Inventurus Knowledge Solutions, 2. Coforge, 3. Persistent Systems, 4. eClerx Services, 5. Mobavenue AI Tech, 6. Oracle Financial Services Software, 7. Colab Platforms, 8. Tech Mahindra, 9. Firstsource Solutions, 10. One Point One Solutions. The score adds up growth, quality, valuation and price strength.

Dropped out of the top 10 since September 2026: Datamatics Global Services, Cigniti Technologies. September 2026 top 10

The 10 biggest IT stocks by market cap

1. Tata Consultancy Services: Software services company. It builds and runs technology systems for big clients. ₹7,80,060 cr · P/E 14.3
2. Infosys: Software services company, works for European factories and other global clients ₹4,15,324 cr · P/E 13.5
3. HCL Technologies: Software services company, also starting to run its own data centres ₹3,30,172 cr · P/E 18.6
4. Wipro: Software services company, works for banks, insurers and healthcare clients ₹1,61,031 cr · P/E 12.2
5. Tech Mahindra: Software services company, big in telecom work, also factories and banks ₹1,48,406 cr · P/E 28.2
6. LTM: Software services company, works for North American banks and factories ₹1,20,725 cr · P/E 21.5
7. Oracle Financial Services Software: Makes software products for banks and other financial companies ₹91,544 cr · P/E 26.6
8. Persistent Systems: Does engineering and product development work for other technology companies ₹91,022 cr · P/E 45.9
9. Coforge: Software services company that took over Encora to get bigger ₹82,755 cr · P/E 43.2
10. Mphasis: Software services company, builds and runs technology systems for clients ₹45,064 cr · P/E 23.3

The Nifty IT index on NSE tracks the largest of these companies.

What is happening at the biggest IT companies

1. Tata Consultancy ServicesIT - Software · ₹7,80,060 cr · beating the Nifty 500

   Software services company. It builds and runs technology systems for big clients.

   What is happening

   • Their medicine and healthcare clients' work shrank in April–June 2026
   • Management expects demand to come back from delayed technology work
   • The call tone in July 2026 was cautiously optimistic

   What is not happening yet

   • Faster growth has not shown up yet, management only expects it
   • The doubt is world politics holding demand back longer than they think

   What to watch next

   • Whether growth gets above 5% compared with a year earlier next quarter
   • Whether medicine and healthcare work grows again in July–September 2026

   Sources: earnings call 9 July 2026

2. InfosysIT - Software · ₹4,15,324 cr · not beating the Nifty 500

   Software services company, works for European factories and other global clients

   What is happening

   • The board named Ashiss Dash, an insider, as the new chief executive
   • AI work is 8.2% of revenue and grew double digits from last quarter
   • Volumes were soft in April–June 2026

   What is not happening yet

   • They promise only 1.5% to 3.0% growth for the year to March 2027
   • European factory clients are still a drag of more than 1.0% on growth
   • The doubt is AI tools doing work people used to do, cutting billings

   In their own words (July 2026 call)

   "the Board has decided today to appoint a new CEO who is coming from inside Infosys, from within, an internal candidate. His name is Ashiss Dash"Nandan Nilekani

   What to watch next

   • July–September 2026 growth against the 1.5% to 3.0% promise for the year
   • Whether AI work keeps growing past 8.2% of revenue

   Sources: earnings call 23 July 2026

3. HCL TechnologiesIT - Software · ₹3,30,172 cr · beating the Nifty 500

   Software services company, also starting to run its own data centres

   What is happening

   • Advanced AI work made $171 million in April–June 2026, up 62.1% on a year earlier
   • Engineering and research work fell 3.7% from the previous quarter
   • They are putting Rs 3,500 crore into their own data centres

   What is not happening yet

   • Telecom and high-tech clients keep cutting, management expects that to continue
   • The data centre money is only going out now, no customer wins shown
   • The doubt is whether engineering work settles or falls further

   In their own words (July 2026 call)

   "Advanced AI revenue for the quarter stood at $171 million, marking 10.6% QoQ and 62.1% YoY growth."C. Vijayakumar

   What to watch next

   • Whether engineering and research work stops falling over the next two quarters
   • First data centre customers and how much of the capacity gets used

   Sources: earnings call 13 July 2026

4. WiproIT - Software · ₹1,61,031 cr · not beating the Nifty 500

   Software services company, works for banks, insurers and healthcare clients

   What is happening

   • Healthcare work fell 3% than a year earlier and 2.6% from last quarter
   • Clients are moving money saved from cost cuts into AI spending
   • Management says banking and insurance work in the Americas is picking up

   What is not happening yet

   • Banking and insurance growth in the Americas has not come back yet
   • Healthcare has not stopped falling, management is only set up for recovery

   In their own words (July 2026 call)

   "The AI disruption is expanding the market, not shrinking it."Srini Pali

   What to watch next

   • Whether banking and insurance work in the Americas grows in July–September 2026
   • Whether healthcare stops falling in July–September 2026

   Sources: earnings call 16 July 2026

5. Tech MahindraIT - Software · ₹1,48,406 cr · beating the Nifty 500

   Software services company, big in telecom work, also factories and banks

   What is happening

   • Profit margin rose from 6.4% to 14.4% over 11 quarters
   • Deals signed hit a record $3.79 billion in the year to March 2026
   • Factory clients grew 17.2% and bank clients 8.1% than a year earlier

   What is not happening yet

   • They cannot add fresh graduates this year, so margin gains are capped
   • The second telecom deal had not started in April–June 2026
   • The doubt is pay rises pulling margin back below 14.0%

   What they said vs what they did

   • They said margin would reach 15.0% in the year to March 2027. It is 14.4% now.

   What to watch next

   • Whether margin holds above 14.0% after the July–September 2026 pay rises
   • Whether the second telecom deal starts bringing in revenue

   Sources: timeline 22 August 2026 · earnings call 16 July 2026

6. LTMIT - Software · ₹1,20,725 cr · beating the Nifty 500

   Software services company, works for North American banks and factories

   What is happening

   • Technology and services clients grew 10.0% than a year earlier
   • AI work is running at about $150 million a year
   • Price talks with some large clients are finished, management calls it done

   What is not happening yet

   • AI work is new and still small, at a yearly pace of $150 million
   • Blueverse rollouts are few so far, the pace has to pick up
   • The doubt is whether AI work grows or flattens at this level

   What to watch next

   • Whether technology and services growth stays in double digits next quarter
   • Whether AI work moves above $150 million a year

   Sources: earnings call 11 July 2026

7. Oracle Financial Services SoftwareIT Product Companies · ₹91,544 cr · not beating the Nifty 500

   Makes software products for banks and other financial companies

   What is happening

   • I have no driver read on this company yet
   • Its last note on file is from June 2026 and names no business drivers

   What is not happening yet

   • Nothing about its business is tested here, treat it as not covered
   • No order wins, margin moves or client wins are on file

   What to watch next

   • My own research on this company, which is not done yet
   • Its next earnings call, once I read it

   Sources: timeline 14 June 2026

8. Persistent SystemsIT - ER&D · ₹91,022 cr · beating the Nifty 500

   Does engineering and product development work for other technology companies

   What is happening

   • A merger is on, management says it is not about cutting costs
   • A customer contract worth over $125 million a year starts July–September 2026
   • The June 2026 call sounded positive

   What is not happening yet

   • The takeover offer to other shareholders is not settled yet
   • The big contract has not started, it begins July–September 2026
   • My note here is from the June 2026 call, not a newer one

   What to watch next

   • Whether shareholders accept the takeover offer
   • Whether the $125 million a year contract starts in July–September 2026

   Sources: earnings call 28 June 2026

9. CoforgeIT - Software · ₹82,755 cr · beating the Nifty 500

   Software services company that took over Encora to get bigger

   What is happening

   • Operating profit grew 73% while revenue grew 36% over four quarters
   • Signed work due in the next year went from $1.63 billion to $2.2 billion
   • Its biggest existing clients are growing faster than the company

   What is not happening yet

   • Encora is only two months into the numbers, the promised gain is unproven
   • Debt and interest went up to pay for Encora, not down
   • Board review reports were withheld and some audit areas are unfinished

   What they said vs what they did

   • They said the Encora deal would lift per-share earnings. Profit rose 49%, per-share earnings 23%.
   • They said the outlook was unchanged. Their own growth slowed to 1.2% last quarter.

   In their own words (September 2026 call)

   "While the chairman's performance category received the lowest rating in the reports, this finding was not disclosed or discussed before the NRC or the board by the NRC chair and the chairman of the board."John Spate

   What to watch next

   • Whether the board review closes and new independent directors and a chair arrive
   • Whether its own growth picks up from 1.2%, in dollars at fixed exchange rates

   Sources: driver read 10 October 2026 · timeline 10 October 2026 · earnings call 14 September 2026

10. MphasisIT - Software · ₹45,064 cr · beating the Nifty 500

    Software services company, builds and runs technology systems for clients

    What is happening

    • Management says its sales pipeline is at a record
    • A large customer deal should start by late August or early September
    • I have no growth or margin numbers for April–June 2026 on file

    What is not happening yet

    • The record pipeline has not turned into faster growth yet
    • Management expects its best growth in three years next quarter, not yet shown
    • The doubt is no revenue figure was given for that deal

    What to watch next

    • July–September 2026 growth, which management says should be the best in three years
    • Whether that deal starts adding revenue from late August 2026

    Sources: earnings call 24 July 2026

Ranked on October 2026 data, refreshed every month

IT stocks gained on the market this week: 44 of 103 are beating the Nifty 500, 3 more than last week. The strongest over 3 months are Sancode Technologies, Optivalue Tek Consulting and RNIT AI Solutions.

57 of 103 IT stocks are below their 200-day average price.

IT stocks beating the Nifty 500

Updated every weekend · data as of 9 October 2026

Use the IT stocks table at the top of this page as a free screener. It updates every weekend with price, P/E, 52-week range and returns, and you can download it as a CSV.

Download every IT stock (CSV) · How the numbers are worked out

Table rebuilt every weekend. Company research refreshed monthly · data as of 9 October 2026

Sector PerformanceSemiconductor & Electronics