Business Services Stocks and Companies in India

The largest Business Services stocks in India by market value are Indegene (₹14,871 crore), BLS International Services (₹8,923 crore) and PDS (₹5,690 crore), at prices of 4 Nov 2026.

• Indegene: ₹617.10 | market value ₹14,871 crore | P/E 34.9
• BLS International Services: ₹216.73 | market value ₹8,923 crore | P/E 12.6
• PDS: ₹330.65 | market value ₹5,690 crore | P/E 43.8
• CMS Info Systems: ₹217.23 | market value ₹3,478 crore | P/E 11.5
• eMudhra: ₹358.85 | market value ₹2,972 crore | P/E 25.9
• Team Lease Services: ₹1,088.80 | market value ₹1,664 crore | P/E 10.9
• Kapston Services: ₹505.10 | market value ₹1,537 crore | P/E 48.3
• Ecos (India) Mobility & Hospitality: ₹113.02 | market value ₹678 crore | P/E 11.5

Share price | market value | P/E, biggest first. Prices, market values and ratios at the official close of 4 Nov 2026; the score list below uses the weekly figures.

Ranked by the 4-Factor Sector Score (growth & earnings 35, capital efficiency 25, valuation 20, relative strength 20). Prices as of 30 Oct 2026.

All 8 listed Indian Services - Others companies are named here, largest first. This is the set of companies people mean when they search for a Nifty Services - Others index; NSE publishes its own indices only for the largest sectors, so this equal-weighted set stands in for one. One large company cannot set the reading.

1. Indegene Ltd₹14,100 cr
2. BLS International Services Ltd₹8,610 cr
3. PDS Ltd₹5,690 cr
4. CMS Info Systems Ltd₹3,280 cr
5. eMudhra Ltd₹2,820 cr
6. Team Lease Services Ltd₹1,650 cr
7. Kapston Services Ltd₹1,490 cr
8. Ecos (India) Mobility & Hospitality Ltd₹602 cr

8 Business Services companies in the Services - Others industry group have a page on Sector Alpha, by market value as of 30 October 2026, and all 8 are listed below, largest first. The largest is Indegene (₹14,141 crore) and the smallest with a market value is Ecos (India) Mobility & Hospitality.

Download all 8 Business Services companies (CSV)

The line below covers up to 5.2 years and opens on the 5Y view; the buttons cut it shorter. Over the last two years (104 weeks) this sector is 32% behind NIFTY 500. Earnings across its companies grew 14% on average over the last four reported quarters.

1 of 8 companies pass the momentum test (5+ points ahead of the Nifty 500 over 3 months, within 20% of the 52-week high). 3 are 20% or more behind over a year while earnings grew 20% or more.

Not ahead of NIFTY 500 on the three-month view this week; 3 of the 8 companies in the industry index above their 200-day average (1 fewer than four weeks earlier); 1 of those 8 pass the momentum test (2 fewer than four weeks earlier); earnings rising at 4 of the 8 that report earnings.

Not ahead of NIFTY 500, not building participation, not giving any back. Earnings mixed, 4 of 8 members have higher trailing twelve-month earnings than a year ago.

Both lines start at 200 in the same week, so the gap between them tells the story: the sector line is an equal-weighted index of its 8 companies. The bars underneath are trailing 12-month earnings per share, one bar per reported quarter, each member set to 100 at the start and the sector taking the middle value, so a price line pulling away from flat bars means the market is paying more for the same earnings. A bar turns grey when that figure is lower than the quarter before. The rules are fixed and the same everywhere on this site: ahead by 5% or more over three months, or behind by 20% or more over a year while earnings grew 20% or more. Hover or tap any point to read both values and the gap.

Services - Others has done worse than the NIFTY 500 by 11.3% over the last 52 weeks. Over 13 weeks the gap is a shortfall of 3.1%. Kapston Services Ltd is the strongest against the sector itself at +52%. Readings are as of 30 October 2026.

Relative-strength score for the industry: 15.1 as of 30 October 2026 (broadening, falling).

Services - Others has done worse than the NIFTY 500 by 11.3% over 52 weeks and by 3.1% over 13 weeks. 1 of 8 companies we track is beating the NIFTY on relative strength (how a share price has done against the index over recent months), and 3 of the 6 with a long enough price history are ahead of the industry itself.

A score that ranks each company against the others in its industry. The four parts shown always add up to the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or old evidence affects only its own part, never as a hidden adjustment.

Indegene Ltd has the strongest current balance of earnings trajectory, business quality, valuation and price confirmation, with 93% evidence confidence.

Kapston Services Ltd has the strongest one-year price move in Services - Others at +155.0%. It also leads on relative strength against the NIFTY, at +43.4%. 3 of 8 companies we track are ahead of the index on that measure. Every line covers 313 weekly closes through 30 October 2026.

Price and relative strength

Price · same starting point: Every company, the sector's own index and NIFTY 500 all start level on the left edge of the window, so only the distance between the lines counts: the highest line has risen the most since then, and the chart at the top of this page is drawn the same way. It opens on one year; the buttons beside it stretch that to three or five.

RS vs NIFTY 500: How far ahead of or behind NIFTY 500 each company has been running, measured against its own recent average of that comparison, so the flat line at zero IS NIFTY 500: above it the company is beating the market, below it the market is beating the company. It opens on one year.

RS vs sector: The same measure taken against Services - Others itself instead of the whole market, so the flat line at zero is the sector: above it the company is beating its own peers, which is the sharper test of the two. It opens on one year.

Biggest one-year moves

Strongest against NIFTY 500

Strongest against the sector itself

A sector whose price has fallen to the bottom eighth of its own decade on earnings that were real but belonged almost entirely to one member, and everywhere else the profits have already stopped growing. In the week of 17 August 2026, 37.5% of 8 Services - Others companies were beating the Nifty 500, against 16.7% on 6 April 2026.

From our industry review of 22 August 2026. A newer review (10 October 2026) did not cover Services - Others, so this is the latest we have.

1 of 8 Services - Others companies held a results call for July to September 2026. Indegene guided: Full-year organic growth stronger than last year with established and newer cohorts moving together.

From the results calls for July to September 2026.

Big funds, foreign and Indian, cut their stake by 2.2 points over the last two quarters. Founders and promoters raised theirs by 0.3 points.

• Spending on new plants and equipment was ₹1,666 crore in the last 12 months, 39% less than a year before.
• Projects still being built shrank 16% in a year.

Big funds = foreign and Indian institutions, change in their share of ownership across 8 Services - Others companies, in percentage points.

Ownership and spending as of 10 October 2026.

This is the written read behind the Services - Others figures above: what is actually happening in the industry, in words, with the evidence each claim rests on. It is dated 22 Aug 2026. It also states what would change this read.

How old this read is: This read comes from our fortnightly sector read dated 22 Aug 2026, 75 days old. The numbers above it are newer than the words here.

What would change this read

One company MEETING a lowered goal instead of lowering it again.

Sources: our fortnightly Services - Others read, 22 Aug 2026.

PDS Ltd has the highest Revenue among the 8 Services - Others companies compared here, at ₹13,554 crore. Team Lease Services Ltd is next at ₹11,982 crore. Indegene Ltd has the highest Revenue growth at 35.8%, so level and change sit with different companies. 8 of 8 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: PDS Ltd is the largest at ₹13,554 crore, 13.1% ahead of Team Lease Services Ltd. Indegene Ltd's growth is 35.8% from a ₹4,130 crore base, with 16 reported quarters out of the last 20. Fast growth from a smaller base is not yet the same as proven size.

What this means: PDS Ltd is the size to compare against; Indegene Ltd is the one growing fastest. The faster grower has to keep that growth and turn it into margin and returns before it counts as more than a fast start.

This conclusion weakens if: PDS Ltd's growth falls below Indegene Ltd's for two consecutive comparable reports while operating margin also compresses.

Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

Revenue · company comparison

Revenue · largest

Revenue growth · fastest growers

All-company data · latest reported quarter

In every all-company table on this page, each figure is the company’s latest single reported quarter. The rankings above them use trailing-twelve-month or current-market values, so a company can legitimately show a different number in each.

Revenue shows both size and speed. A large company can absorb shocks and pay for wide distribution; faster growth can mean market-share gains, new capacity or stronger demand. The best sign is usually growth that lasts without hurting margins and returns.

BLS International Services Ltd has the highest OPM among the 8 Services - Others companies compared here, at 28%. CMS Info Systems Ltd is next at 27%. CMS Info Systems Ltd has the highest Margin change at +2 percentage points, so level and change sit with different companies. Its OPM series carries 19 reported observations across the 20-quarter window.

What the numbers say: BLS International Services Ltd leads opm at 28%; CMS Info Systems Ltd leads margin change at +2 percentage points.

What this means: BLS International Services Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

Operating margin · company comparison

OPM · highest

Margin change · fastest expanders

All-company data · latest reported quarter

BLS International Services Ltd has the highest Net profit among the 8 Services - Others companies compared here, at ₹745 crore. Indegene Ltd is next at ₹411 crore. Kapston Services Ltd has the highest Profit growth at 34%, so level and change sit with different companies. 8 of 8 companies report a comparable reading, the latest through Jun 2026.

What the numbers say: BLS International Services Ltd earns the most, ₹745 crore of profit over the last 12 months, 81.3% above Indegene Ltd. Kapston Services Ltd shows 34% growth from a profit base of ₹32 crore. A fast rate from a small base matters less than a large profit that keeps coming.

What this means: BLS International Services Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

Net profit · company comparison

Net profit · largest

Profit growth · fastest growers

All-company data · latest reported quarter

BLS International Services Ltd has the highest ROCE among the 8 Services - Others companies compared here, at 29.8%. Ecos (India) Mobility & Hospitality Ltd is next at 28%. Team Lease Services Ltd has the highest ROCE change at +2 percentage points, so level and change sit with different companies.

What the numbers say: BLS International Services Ltd leads ROCE at 29.8%, 1.8 percentage points above Ecos (India) Mobility & Hospitality Ltd. A high return reported once may be one good year; a high return reported year after year shows a lasting business.

What this means: BLS International Services Ltd sets the level to compare against; the company improving fastest needs another report to confirm the change.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

Return on capital · company comparison

Withheld from this chart: BLS International Services Ltd (BLS): its two data sources disagree by up to 9.5% on reported income across 15 comparable periods, so its derived ratios are withheld; PDS Ltd (PDSL): its two data sources disagree by up to 46% on reported income across 15 comparable periods, so its derived ratios are withheld; Team Lease Services Ltd (TEAMLEASE): its two data sources disagree by up to 6.8% on reported income across 15 comparable periods, so its derived ratios are withheld. A figure two sources cannot agree on is not drawn, the gap is a decision, not missing data.

ROCE · highest

ROCE change · fastest improvers

All-company data · latest reported quarter

Kapston Services Ltd has the lowest PEG among the 8 Services - Others companies compared here, at 1.13×. eMudhra Ltd is next at 1.48×. Ecos (India) Mobility & Hospitality Ltd has the lowest P/E at 10.2×, so level and change sit with different companies. 5 of 8 companies report a comparable reading, the latest through Sep 2026.

What the numbers say: Kapston Services Ltd has the lowest comparable PEG at 1.13×, 23.6% below eMudhra Ltd. That would need today's multiple, the company's own history and steady growth to agree.

What this means: A low valuation is a reason to look closer at the business, not a conclusion on its own.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is worked out the same way every time, as the P/E on the last 12 months of reported earnings divided by that growth rate, never on expected earnings. On Indian companies it is shown only where the two data feeds agreed. Where any of that fails the ratio is left out rather than printed: a P/E divided by a loss, or by growth measured off a tiny base, is a number that looks precise and means nothing.

Valuation · company comparison

PEG · lowest PEG

P/E · lowest P/E

All-company data · latest reported quarter

Services - Others companies show up on 7 of our India lists. The most are on the 52 week high & low list (4 companies).

This Services - Others comparison names 5 specific ways its own evidence can mislead, all listed below. All 8 companies here report on comparable dates, so no rank carries a stale marker. 3 have second-source figures left out because the two sources disagree. A high growth rate can still come from a very small starting figure.

Keep these limits visible

• A high growth rate can come from a very small starting figure. The page keeps level and change separate for that reason.
• A high ROCE can be temporary, or look high because the capital base is small. It is best read beside margin, cash flow and how much is spent back on the business.
• The 4-Factor Sector Score ranks published data only. Management quality, upcoming events and risks are not part of it.
• An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
• 3 companies are missing from the second-source figures on purpose: the two sources disagree, so nothing from the second is drawn. Those rows have less evidence; that does not make the business weaker.

This comparison is built from the reported filings of 8 Services - Others companies, normalized to a common ₹ scale and a shared quarter axis of up to 20 quarters each. Fundamentals run through Sep 2026 and market data through 30 October 2026.

3 of 8 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: BLS International Services Ltd (BLS): its two data sources disagree by up to 9.5% on reported income across 15 comparable periods, so its derived ratios are withheld; PDS Ltd (PDSL): its two data sources disagree by up to 46% on reported income across 15 comparable periods, so its derived ratios are withheld; Team Lease Services Ltd (TEAMLEASE): its two data sources disagree by up to 6.8% on reported income across 15 comparable periods, so its derived ratios are withheld.

These 24 answers restate the Services - Others comparison above in question form. Every one is computed from the same 8 companies and the same reported filings as the rankings and charts, current through Sep 2026. Price and relative-strength answers run through 30 October 2026. Nothing here is estimated, and none of it is a recommendation.