Top 10 IT Stocks List in India – Best IT Companies and Industry Analysis
This post was most recently updated on November 11th, 2023
Namaste readers! In today’s digital era, India’s IT sector is soaring to new heights. Ever wondered which IT stocks are leading the way? Dive in as we unveil the top 10 IT stocks list in India that are making waves in the Indian market. Whether you’re an investor or just curious, this list promises insights and surprises. Let’s decode the tech giants of India together!
If you’re an investor seeking the best opportunities in IT stocks or a newbie looking to capitalize on rapid digitalization, then this article will be your compass.
Consider reading: Top 100 Small Cap Stocks in India
We’ve meticulously sifted through the plethora of IT stocks in India to bring you a curated list of ten that stand out in terms of innovation, performance, and growth potential.
Page Contents
Top 10 IT Stocks List in India
| Stock Name | Current Price | 52 wk High | 52 wk Low | Market Cap (Rs. cr) |
|---|---|---|---|---|
| TCS | 3,369.60 | 4,045.50 | 2,701.00 | 1,232,953.95 |
| Infosys | 1,330.40 | 1,953.70 | 1,215.45 | 552,141.59 |
| HCL Tech | 1,116.75 | 1,377.00 | 875.65 | 303,048.55 |
| Wipro | 404.55 | 444.65 | 351.85 | 222,077.47 |
| LTIMindtree | 4,922.75 | 7,595.25 | 3,733.25 | 145,662.40 |
| Tech Mahindra | 1,194.35 | 1,837.75 | 890.1 | 116,418.87 |
| MphasiS | 2,330.60 | 3,547.30 | 1,660.65 | 43,944.28 |
| Persistent | 4,760.05 | 5,278.50 | 1,482.05 | 36,616.68 |
| Oracle Fin Serv | 3,856.30 | 5,144.60 | 2,883.80 | 33,356.38 |
| COFORGE LTD. | 4,638.75 | 6,133.00 | 2,325.60 | 28,341.26 |
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High-Level Comparison of Top 10 IT Stocks in India
| Stock | Number of Employees | Market Capitalisation (in crore) | Profit per Year (in crore) |
|---|---|---|---|
| TCS | 6,14,795 | ₹12,00,000 | ₹36,431 |
| Infosys | 3,43,234 | ₹6,00,000 | ₹20,629 |
| HCL Tech | 1,68,977 | ₹2,40,000 | ₹13,011 |
| Wipro | 2,07,711 | ₹3,00,000 | ₹10,967 |
| LTI Mindtree | 82,000 | ₹1,45,000 | ₹4,456 |
| Tech Mahindra | 1,21,900 | ₹1,20,000 | ₹4,428 |
| Mphasis | 29000 | ₹44,000 | ₹1,724 |
| Persistent | 13000 | ₹36,300 | ₹1,266 |
| Oracle Fin Serv | 9000 | ₹33,360 | ₹1,806 |
| COFORGE LTD | 21000 | ₹28,360 | ₹750 |
Tata Consultancy Services (TCS): The Biggest IT Company in India
TCS is number one in the Top 10 IT Stocks List in India.
Tata Consultancy Services (TCS) is an Indian multinational information technology (IT) services and consulting company with its headquarters in Mumbai, Maharashtra. It is a part of the Tata Group and operates in 150 locations across 46 countries
TCS offers a consulting-led, cognitive-powered, integrated portfolio of business, technology, and engineering services and solutions. It is among the most valuable IT service brands worldwide and is the top Big Tech (India) company.
TCS Financials
According to the latest quarterly report (Q1 FY 2024), TCS had a revenue of ₹593.81 billion, a net income of ₹110.74 billion, and an earnings per share of ₹30.26.
The following table shows some key financial ratios of TCS:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales | 146,463 | 156,949 | 164,177 | 191,754 | 225,458 | 232,081 |
| Expenses | 106,957 | 114,840 | 117,631 | 138,697 | 166,199 | 171,240 |
| Operating Profit | 39,506 | 42,109 | 46,546 | 53,057 | 59,259 | 60,841 |
| OPM % | 27% | 27% | 28% | 28% | 26% | 26% |
| Other Income | 4,311 | 4,592 | 1,916 | 4,018 | 3,449 | 4,057 |
| Interest | 198 | 924 | 637 | 784 | 779 | 743 |
| Depreciation | 2,056 | 3,529 | 4,065 | 4,604 | 5,022 | 5,035 |
| Profit before tax | 41,563 | 42,248 | 43,760 | 51,687 | 56,907 | 59,120 |
| Tax % | 24% | 23% | 26% | 26% | 26% | |
| Net Profit | 31,562 | 32,447 | 32,562 | 38,449 | 42,303 | 43,904 |
| EPS in Rs | 83.87 | 86.19 | 87.67 | 104.75 | 115.19 | 119.54 |
| Dividend Payout % | 36% | 85% | 43% | 41% | 100% |
TCS Business Plan
TCS has the vision to be the global leader in IT services, consulting, and business solutions that enable its clients to achieve their strategic objectives and operate more efficiently and effectively.
TCS has a business model that is based on four pillars: customer centricity, agility, innovation, and talent development.
Competitive Edge for TCS
TCS has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: TCS has a strong brand image and recognition as a trusted partner for its clients across various industries and geographies.
- Scale and reach: TCS has a large and diversified client base, spanning multiple sectors and regions. It has over 592,000 consultants in 55 countries, serving more than 2,000 clients.
- Quality and delivery: TCS has a proven track record of delivering high-quality solutions on time and within budget. It has achieved several quality certifications and accreditations, such as CMMI Level 5, ISO 9001:2015, ISO 27001:2013, ISO 22301:2012, etc.
- Innovation and technology: TCS has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, co-innovation networks, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: TCS has a talented and diverse workforce that is committed to learning, growth, and excellence. It has a culture of collaboration, empowerment, and respect that fosters innovation and performance.
Growth Prospects for TCS
TCS has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: TCS helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, the Internet of Things, blockchain, etc., to transform their business processes, products, and services.
- New markets: TCS expands its presence in new markets such as Latin America, Africa, the Middle East, etc., where there is a growing demand for IT services.
- New segments: TCS diversifies its portfolio by entering new segments such as healthcare, life sciences, media, entertainment, etc., where there is a potential for growth and innovation.
- New offerings: TCS launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Infosys
Infosys is an Indian multinational information technology (IT) company that provides business consulting, IT services, and outsourcing solutions to clients in more than 50 countries. It is headquartered in Bangalore, Karnataka, and is a part of the Big Tech (India) group.
Infosys helps its clients navigate their digital transformation journeys by leveraging its digital capabilities, domain expertise, agile delivery network, and innovation ecosystem.
It is among the most valuable IT service brands worldwide and is the 6022nd largest public company in the world, according to the Forbes Global 2000 ranking.
Infosys Financials Data
According to the latest annual report (FY 2023), Infosys had a revenue of ₹1,49,468 crore (US$19 billion), a net income of ₹24,108 crore (US$3 billion), and an earnings per share of ₹55.774.
The following table shows some key financial ratios of Infosys:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales | 82,675 | 90,791 | 100,472 | 121,641 | 146,767 | 150,230 |
| Expenses | 62,505 | 68,524 | 72,583 | 90,150 | 111,637 | 113,899 |
| Operating Profit | 20,170 | 22,267 | 27,889 | 31,491 | 35,130 | 36,331 |
| OPM % | 24% | 25% | 28% | 26% | 24% | 24% |
| Other Income | 2,882 | 2,803 | 2,201 | 2,295 | 2,701 | 2,585 |
| Interest | 0 | 170 | 195 | 200 | 284 | 318 |
| Depreciation | 2,011 | 2,893 | 3,267 | 3,476 | 4,225 | 4,448 |
| Profit before tax | 21,041 | 22,007 | 26,628 | 30,110 | 33,322 | 34,150 |
| Tax % | 27% | 24% | 27% | 26% | 28% | |
| Net Profit | 15,410 | 16,639 | 19,423 | 22,146 | 24,108 | 24,691 |
| EPS in Rs | 35.26 | 38.96 | 45.42 | 52.56 | 58.08 | 59.1 |
| Dividend Payout % | 60% | 45% | 59% | 59% | 58% |
Business Plan of Infosys
Infosys has the vision to be a globally respected corporation that provides best-of-breed business solutions, leveraging technology, delivered by best-in-class people.
Infosys has a business model that is based on three pillars: client focus, operational excellence, and employee engagement.
Consider reading: Infosys Share Price Target
Competitive Edge of Infosys
Infosys has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: Infosys has a strong brand image and recognition as a trusted partner for its clients across various industries and geographies.
- Scale and reach: Infosys has a large and diversified client base, spanning multiple sectors and regions. It has over 336,000 employees in 56 countries, serving more than 2,500 clients.
- Quality and delivery: Infosys has a proven track record of delivering high-quality solutions on time and within budget. It has achieved several quality certifications and accreditations, such as CMMI Level 5, ISO 9001:2015, ISO 27001:2013, ISO 14001:2015, etc.
- Innovation and technology: Infosys has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: Infosys has a talented and diverse workforce that is committed to learning, growth, and excellence. It has a culture of respect, transparency, and integrity that fosters innovation and performance.
Growth Prospects for Infosys
Infosys has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: Infosys helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, Internet of Things, etc., to transform their business processes, products, and services.
- New markets: Infosys expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: Infosys diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: Infosys launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Infosys is one of the most admired Top 10 IT Stocks List in India.
HCL Tech
HCL Tech is an Indian multinational information technology (IT) company that provides IT services and consulting solutions to clients in various industries and geographies. It is headquartered in Noida, Uttar Pradesh, and is a part of the HCL Group.
HCL Tech helps its clients achieve their business objectives by leveraging its digital, engineering, and cloud capabilities, domain expertise, global delivery network, and innovation ecosystem.
It is among the top five Indian IT service companies in terms of revenues, and is the 602nd largest public company in the world, according to the Forbes Global 2000 ranking.
HCL Tech Financials
According to the latest annual report (FY 2023), HCL Tech had a revenue of ₹102,814 crore (US$13 billion), a net income of ₹16,146 crore (US$2 billion), and an earnings per share of ₹23.64.
The following table shows some key financial ratios of HCL Tech:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales + | 60,427 | 70,676 | 75,379 | 85,651 | 101,456 | 104,288 |
| Expenses + | 46,501 | 53,360 | 55,331 | 65,122 | 78,828 | 81,270 |
| Operating Profit | 13,926 | 17,316 | 20,048 | 20,529 | 22,628 | 23,018 |
| OPM % | 23% | 24% | 27% | 24% | 22% | 22% |
| Other Income + | 943 | 589 | 927 | 1,067 | 1,358 | 1,293 |
| Interest | 174 | 505 | 511 | 319 | 353 | 375 |
| Depreciation | 2,073 | 3,420 | 4,611 | 4,326 | 4,145 | 4,089 |
| Profit before tax | 12,622 | 13,980 | 15,853 | 16,951 | 19,488 | 19,847 |
| Tax % | 20% | 21% | 30% | 20% | 24% | |
| Net Profit + | 10,120 | 11,057 | 11,169 | 13,523 | 14,845 | 15,095 |
| EPS in Rs | 37.31 | 40.75 | 41.07 | 49.74 | 54.73 | 55.65 |
| Dividend Payout % | 11% | 25% | 24% | 84% | 88% |
HCL Tech Business Plan
HCL Tech has the vision to be the technology partner of choice for forward-looking customers by collaboratively transforming technology into business advantage
HCL Tech has a business model that is based on three pillars: Mode 1, Mode 2, and Mode 3
- Mode 1: This mode covers the core services in the areas of applications, infrastructure, and engineering that enable customers to run their businesses efficiently and effectively.
- Mode 2: This mode covers the next-generation services in the areas of digital, cloud, analytics, IoT, etc., that enable customers to transform their businesses and create competitive advantage.
- Mode 3: This mode covers the products and platforms that create value for customers by addressing their niche problems and generating new revenue streams.
HCL Tech Competitive Edge
HCL Tech has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: HCL Tech has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: HCL Tech has a large and diversified client base, spanning across multiple sectors and regions. It has over 210,966 employees in 52 countries, serving more than 1,000 clients.
- Quality and delivery: HCL Tech leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: HCL Tech has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: HCL Tech nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of trust, transparency, and flexibility that empowers its employees.
HCL Tech Growth Prospects
HCL Tech has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: HCL Tech helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: HCL Tech expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: HCL Tech diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: HCL Tech launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Wipro
Wipro is an Indian multinational corporation that provides information technology (IT), consulting, and business process services to clients in various industries and geographies. It is headquartered in Bangalore, Karnataka, and is a part of the Big Tech (India) group.
Wipro helps its clients achieve their business objectives by leveraging its artificial intelligence, cloud, digital transformation, engineering, and sustainability capabilities, domain expertise, global delivery network, and innovation ecosystem.
It is among the most valuable IT service brands worldwide and is the 602nd largest public company in the world, according to the Forbes Global 2000 ranking.
Wipro Financials
According to the latest annual report (FY 2023), Wipro had a revenue of ₹80,844 crore (US$10 billion), a net income of ₹11,296 crore (US$1.4 billion), and an earnings per share of ₹19.82.
The following table shows some key financial ratios of Wipro:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales + | 59,019 | 61,138 | 61,935 | 79,312 | 90,488 | 91,790 |
| Expenses + | 47,406 | 48,795 | 47,164 | 62,628 | 73,640 | 74,607 |
| Operating Profit | 11,613 | 12,342 | 14,771 | 16,684 | 16,848 | 17,183 |
| OPM % | 20% | 20% | 24% | 21% | 19% | 19% |
| Other Income + | 2,614 | 2,728 | 2,404 | 2,067 | 2,266 | 2,445 |
| Interest | 738 | 733 | 509 | 532 | 1,008 | 1,112 |
| Depreciation | 1,947 | 2,086 | 2,763 | 3,078 | 3,340 | 3,304 |
| Profit before tax | 11,542 | 12,252 | 13,903 | 15,141 | 14,766 | 15,211 |
| Tax % | 22% | 20% | 22% | 19% | 23% | |
| Net Profit + | 9,018 | 9,772 | 10,868 | 12,243 | 11,366 | 11,694 |
| EPS in Rs | 14.92 | 17.02 | 19.7 | 22.31 | 20.68 | 21.24 |
| Dividend Payout % | 7% | 6% | 5% | 27% | 5% |
Wipro Business Plan
Wipro has the vision to be the leading provider of trusted digital solutions that enable businesses to thrive in an uncertain world.
Wipro has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence, and Trust.
Competitive Edge for Wipro
Wipro has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: Wipro has a strong brand image and recognition as a trusted partner for its clients across various industries and geographies.
- Scale and reach: Wipro has a large and diversified client base, spanning multiple sectors and regions. It has over 240,000 employees in 67 countries, serving more than 1,800 clients.
- Quality and delivery: Wipro leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: Wipro has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: Wipro nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
Growth Prospects for Wipro
Wipro has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: Wipro helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: Wipro expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: Wipro diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: Wipro launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
LTIMindtree
LTIMindtree is a global technology consulting and digital solutions company that enables enterprises across industries to reimagine business models, accelerate innovation, and maximize growth by harnessing digital technologies.
It is a subsidiary of Larsen & Toubro, an Indian multinational conglomerate. It is headquartered in Mumbai, Maharashtra, and is one of the top Big Tech (India) companies.
LTIMindtree helps its clients achieve their business objectives by leveraging its expertise, experience, and innovative ecosystem in the areas of cloud, data, artificial intelligence, engineering, cybersecurity, and digital transformation.
It has over 82,000 employees in 32 countries, serving more than 2,000 clients.
Financials of LTIMindtree
According to the latest annual report (FY 2023), LTIMindtree had a revenue of ₹51,457 crore (US$6.4 billion), a net income of ₹7,965 crore (US$1 billion), and an earnings per share of ₹26.86.
The following table shows some key financial ratios of LTIMindtree:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales | 9,446 | 10,879 | 12,370 | 26,109 | 33,183 | 34,241 |
| Expenses | 7,562 | 8,849 | 9,645 | 20,860 | 27,075 | 27,991 |
| Operating Profit | 1,883 | 2,029 | 2,725 | 5,249 | 6,108 | 6,250 |
| OPM % | 20% | 19% | 22% | 20% | 18% | 18% |
| Other Income | 302 | 329 | 274 | 766 | 557 | 511 |
| Interest | 11 | 83 | 79 | 123 | 150 | 165 |
| Depreciation | 147 | 273 | 332 | 597 | 723 | 741 |
| Profit before tax | 2,028 | 2,003 | 2,588 | 5,294 | 5,792 | 5,854 |
| Tax % | 25% | 24% | 25% | 25% | 24% | |
| Net Profit | 1,516 | 1,520 | 1,938 | 3,950 | 4,410 | 4,456 |
| EPS in Rs | 87.37 | 87.3 | 110.79 | 225.27 | 149.02 | |
| Dividend Payout % | 32% | 32% | 36% | 41% | 40% |
Business Plan of LTIMindtree
LTIMindtree has the vision to be the technology partner of choice for forward-looking customers by collaboratively transforming technology into a business advantage.
Consider reading: Mindtree Share Price Target
LTIMindtree has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence, and Trust.
Competitive Edge of LTIMindtree
LTIMindtree has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: LTIMindtree has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: LTIMindtree has a large and diversified client base, spanning multiple sectors and regions. It has over 82,000 employees in 32 countries, serving more than 2,000 clients.
- Quality and delivery: LTIMindtree leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: LTIMindtree has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: LTIMindtree nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
LTIMindtree Growth Prospects
LTIMindtree has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: LTIMindtree helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: LTIMindtree expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: LTIMindtree diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: LTIMindtree launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Tech Mahindra
Tech Mahindra is an Indian multinational corporation that provides information technology (IT), consulting, and business process services to clients in various industries and geographies. It is a part of the Mahindra Group, an Indian conglomerate.
It is headquartered in Pune, Maharashtra, and is one of the top Big Tech (India) companies.
Tech Mahindra helps its clients achieve their business objectives by leveraging its artificial intelligence, cloud, digital transformation, engineering and cybersecurity capabilities, domain expertise, global delivery network, and innovation ecosystem. It has over 158,000 employees in 90 countries, serving more than 1,000 clients.
Financials of Tech Mahindra
According to the latest annual report (FY 2023), Tech Mahindra had a revenue of ₹53,255 crore (US$6.7 billion), a net income of ₹4,831 crore (US$610 million), and an earnings per share of ₹17.76.
The following table shows some key financial ratios of Tech Mahindra:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|
| Sales | 34,742 | 36,868 | 37,855 | 44,646 | 53,290 |
| Expenses | 28,471 | 31,365 | 31,059 | 36,626 | 45,527 |
| Operating Profit | 6,271 | 5,503 | 6,796 | 8,020 | 7,763 |
| OPM % | 18% | 15% | 18% | 18% | 15% |
| Other Income | 534 | 1,192 | 788 | 1,115 | 965 |
| Interest | 133 | 192 | 174 | 163 | 326 |
| Depreciation | 1,129 | 1,446 | 1,458 | 1,520 | 1,957 |
| Profit before tax | 5,543 | 5,058 | 5,953 | 7,452 | 6,446 |
| Tax % | 23% | 23% | 27% | 24% | 25% |
| Net Profit | 4,289 | 3,897 | 4,353 | 5,630 | 4,857 |
| EPS in Rs | 43.7 | 41.76 | 45.73 | 57.27 | 49.6 |
| Dividend Payout % | 29% | 32% | 89% | 47% | 91% |
Business Plan of Tech Mahindra
Tech Mahindra has the vision to be the technology partner of choice for forward-looking customers by collaboratively transforming technology into business advantage1
Tech Mahindra has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence and Trust.
Competitive Edge of Tech Mahindra
Tech Mahindra has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: Tech Mahindra has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: Tech Mahindra has a large and diversified client base, spanning across multiple sectors and regions. It has over 158,000 employees in 90 countries, serving more than 1,000 clients.
- Quality and delivery: Tech Mahindra leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: Tech Mahindra has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: Tech Mahindra nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
Growth Prospects for Tech Mahindra
Tech Mahindra has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: Tech Mahindra helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: Tech Mahindra expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: Tech Mahindra diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: Tech Mahindra launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Mphasis
MphasiS is an Indian multinational corporation that provides digital transformation, cloud service, IT infrastructure, and ERP solutions to clients in various industries and geographies.
It is headquartered in Bangalore, Karnataka, and is a part of the Blackstone Group, an American private equity firm.
MphasiS helps its clients achieve their business objectives by leveraging its artificial intelligence, blockchain, cloud, cognitive, cybersecurity, DevOps, and digital capabilities, domain expertise, global delivery network, and innovation ecosystem.
It has over 29,000 employees in 21 countries, serving more than 1,000 clients.
Mphasis Financials
According to the latest annual report (FY 2021), MphasiS had a revenue of ₹9,722 crores (US$1.2 billion), a net income of ₹1,217 crores (US$150 million), and earnings per share of ₹63.644
The following table shows some key financial ratios of Mphasis:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales | 7,731 | 8,844 | 9,722 | 11,961 | 13,798 | 13,639 |
| Expenses | 6,407 | 7,193 | 7,919 | 9,844 | 11,365 | 11,218 |
| Operating Profit | 1,324 | 1,650 | 1,803 | 2,118 | 2,434 | 2,421 |
| OPM % | 17% | 19% | 19% | 18% | 18% | 18% |
| Other Income | 177 | 178 | 133 | 160 | 162 | 176 |
| Interest | 17 | 81 | 63 | 74 | 97 | 98 |
| Depreciation | 76 | 232 | 242 | 291 | 325 | 333 |
| Profit before tax | 1,407 | 1,515 | 1,631 | 1,913 | 2,173 | 2,166 |
| Tax % | 24% | 22% | 25% | 25% | 25% | |
| Net Profit | 1,073 | 1,185 | 1,217 | 1,431 | 1,638 | 1,632 |
| EPS in Rs | 57.64 | 63.52 | 65.06 | 76.19 | 86.94 | 86.65 |
| Dividend Payout % | 47% | 55% | 100% | 60% | 58% |
Business Plan of Mphasis
Mphasis has the vision to be the applied technology services company that enables enterprises to reimagine their businesses for the digital age.
Mphasis has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence, and Trust.
Competitive Edge of Mphasis
MphasiS has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: Mphasis has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: Mphasis has a large and diversified client base, spanning across multiple sectors and regions. It has over 29,000 employees in 21 countries, serving more than 1,000 clients.
- Quality and delivery: Mphasis leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: Mphasis has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: Mphasis nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
Growth Prospects of Mphasis
MphasiS has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: Mphasis helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: Mphasis expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: Mphasis diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: Mphasis launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Persistent
Persistent is an Indian multinational corporation that provides digital engineering and enterprise modernization services to clients in various industries and geographies. It is headquartered in Pune, Maharashtra, and has technical expertise and industry experience of 30 years.
Persistent helps its clients achieve their business objectives by leveraging its digital strategy and design, software product engineering, CX transformation, cloud and infrastructure, intelligent automation, enterprise IT security, data, and analytics, application development and management, and enterprise integration capabilities.
It has over 13,000 employees in 21 countries, serving more than 2,000 clients.
Persistent Financials
According to the latest annual report (FY 2021), Persistent had a revenue of ₹4,684 crore (US$590 million), a net income of ₹452 crore (US$57 million), and an earnings per share of ₹59.36.
The following table shows some key financial ratios of Persistent:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales | 3,366 | 3,566 | 4,188 | 5,711 | 8,351 | 8,794 |
| Expenses | 2,810 | 3,073 | 3,505 | 4,753 | 6,831 | 7,234 |
| Operating Profit | 556 | 493 | 683 | 958 | 1,519 | 1,560 |
| OPM % | 17% | 14% | 16% | 17% | 18% | 18% |
| Other Income | 88 | 132 | 108 | 144 | 41 | 42 |
| Interest | 0 | 6 | 6 | 12 | 47 | 52 |
| Depreciation | 157 | 166 | 176 | 166 | 272 | 284 |
| Profit before tax | 486 | 452 | 609 | 924 | 1,241 | 1,266 |
| Tax % | 28% | 25% | 26% | 25% | 26% | |
| Net Profit | 352 | 340 | 451 | 690 | 921 | 938 |
| EPS in Rs | 43.96 | 44.53 | 58.97 | 90.34 | 120.52 | 122.77 |
| Dividend Payout % | 25% | 27% | 34% | 34% | 41% |
Business Plan of Persistent
Persistent has the vision to be the applied technology services company that enables enterprises to reimagine their businesses for the digital age.
Persistent has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence, and Trust
Competitive Edge for Persistent
Persistent has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: Persistent has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: Persistent has a large and diversified client base, spanning multiple sectors and regions. It has over 13,000 employees in 21 countries, serving more than 2,000 clients.
- Quality and delivery: Persistent leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: Persistent has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: Persistent nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
Growth Prospects of Persistent
Persistent has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: Persistent helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: Persistent expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: Persistent diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: Persistent launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Oracle Fin Serv
Oracle Fin Serv, also known as Oracle Financial Services Software Limited (OFSS), is a subsidiary of Oracle Corporation that provides financial software, custom application development, consulting, IT infrastructure management, and outsourced business processing services to the financial services industry.
It is headquartered in Mumbai, Maharashtra, and is a part of the Big Tech (India) group.
Oracle Fin Serv helps its clients achieve their business objectives by leveraging its data-driven applications and cloud services that cover various domains such as retail banking, corporate banking, risk and finance, financial crime, and compliance management.
It has over 900 customers in over 145 countries.
Financials of Oracle Fin Serv
According to the latest annual report (FY 2021), Oracle Fin Serv had a revenue of ₹4,996 crore (US$630 million), a net income of ₹1,724 crore (US$220 million), and earnings per share of ₹406.67.
The following table shows some key financial ratios of Oracle Fin Serv:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 |
|---|---|---|---|---|---|
| Sales | 4,959 | 4,861 | 4,984 | 5,221 | 5,698 |
| Expenses | 2,814 | 2,633 | 2,515 | 2,723 | 3,227 |
| Operating Profit | 2,145 | 2,229 | 2,469 | 2,499 | 2,471 |
| OPM % | 43% | 46% | 50% | 48% | 43% |
| Other Income | 176 | 177 | 132 | 134 | 192 |
| Interest | 0 | 47 | 19 | 12 | 13 |
| Depreciation | 54 | 106 | 104 | 93 | 81 |
| Profit before tax | 2,267 | 2,252 | 2,477 | 2,528 | 2,570 |
| Tax % | 39% | 35% | 29% | 25% | 30% |
| Net Profit | 1,386 | 1,462 | 1,762 | 1,889 | 1,806 |
| EPS in Rs | 161.57 | 170.26 | 204.72 | 219 | 209.05 |
| Dividend Payout % | 0% | 106% | 98% | 87% | 108% |
Business Plan of Oracle Fin Serv
Oracle Fin Serv has a vision to be the leading provider of trusted digital solutions that enable businesses to thrive in an uncertain world.
Oracle Fin Serv has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence, and Trust
- Business Transformation: Oracle Fin Serv helps its clients transform their business models, processes, and customer experiences by leveraging digital technologies and design thinking.
- Modernization: Oracle Fin Serv helps its clients modernize their legacy systems, applications, and infrastructure by leveraging cloud, automation, and engineering solutions.
- Connected Intelligence: Oracle Fin Serv helps its clients harness the power of data, analytics, and artificial intelligence to generate insights and actions that drive business outcomes.
- Trust: Oracle Fin Serv helps its clients build trust with their stakeholders by ensuring security, privacy, compliance, and sustainability in their digital solutions.
Competitive Edge of Oracle Fin Serv
Oracle Fin Serv has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: Oracle Fin Serv has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: Oracle Fin Serv has a large and diversified client base, spanning multiple sectors and regions. It has over 900 customers in over 145 countries.
- Quality and delivery: Oracle Fin Serv leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: Oracle Fin Serv has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: Oracle Fin Serv nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
Growth Prospects for Oracle Fin Serv
Oracle Fin Serv has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: Oracle Fin Serv helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: Oracle Fin Serv expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: Oracle Fin Serv diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: Oracle Fin Serv launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
COFORGE LTD
COFORGE LTD, formerly known as NIIT Technologies, is an Indian multinational corporation that provides digital IT solutions and technology consulting services to clients in various industries and geographies.
It is headquartered in Noida, Uttar Pradesh, and is a part of the Big Tech (India) group.
COFORGE LTD helps its clients achieve their business objectives by leveraging its digital strategy and design, software product engineering, CX transformation, cloud and infrastructure, intelligent automation, enterprise IT security, data, and analytics, application development and management, and enterprise integration capabilities.
It has over 21,000 employees in 21 countries, serving more than 2,000 clients.
COFORGE LTD Financials
According to the latest annual report (FY 2021), COFORGE LTD had a revenue of ₹4,684 crores (US$590 million), a net income of ₹452 crores (US$57 million), and earnings per share of ₹59.36.
The following table shows some key financial ratios of COFORGE LTD:
| Ratio | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM |
|---|---|---|---|---|---|---|
| Sales | 3,676 | 4,184 | 4,663 | 6,432 | 8,015 | 8,406 |
| Expenses | 3,026 | 3,459 | 3,882 | 5,330 | 6,733 | 7,108 |
| Operating Profit | 650 | 725 | 781 | 1,102 | 1,282 | 1,298 |
| OPM % | 18% | 17% | 17% | 17% | 16% | 15% |
| Other Income | 46 | 59 | 13 | 52 | 8 | 12 |
| Interest | 9 | 16 | 14 | 65 | 81 | 84 |
| Depreciation | 125 | 173 | 184 | 227 | 258 | 271 |
| Profit before tax | 562 | 595 | 596 | 862 | 951 | 954 |
| Tax % | 25% | 21% | 22% | 17% | 22% | |
| Net Profit | 422 | 468 | 466 | 715 | 745 | 749 |
| EPS in Rs | 65.28 | 71.05 | 75.19 | 108.65 | 113.58 | 116.2 |
| Dividend Payout % | 0% | 44% | 17% | 48% | 56% |
COFORGE LTD Business Plan
COFORGE LTD has the vision to be the leading provider of trusted digital solutions that enable businesses to thrive in an uncertain world1
COFORGE LTD has a business model that is based on four strategic themes: Business Transformation, Modernization, Connected Intelligence, and Trust.
- Business Transformation: COFORGE LTD helps its clients transform their business models, processes, and customer experiences by leveraging digital technologies and design thinking.
- Modernization: COFORGE LTD helps its clients modernize their legacy systems, applications, and infrastructure by leveraging cloud, automation, and engineering solutions.
- Connected Intelligence: COFORGE LTD helps its clients harness the power of data, analytics, and artificial intelligence to generate insights and actions that drive business outcomes.
- Trust: COFORGE LTD helps its clients build trust with their stakeholders by ensuring security, privacy, compliance, and sustainability in their digital solutions.
Competitive Edge of COFORGE LTD
COFORGE LTD has several competitive advantages that enable it to maintain its leadership position in the IT services industry. Some of these are:
- Brand reputation: COFORGE LTD has a strong brand image and recognition as a reliable partner for its clients across various industries and geographies.
- Scale and reach: COFORGE LTD has a large and diversified client base, spanning multiple sectors and regions. It has over 21,000 employees in 21 countries, serving more than 2,000 clients.
- Quality and delivery: COFORGE LTD leverages its global delivery model, quality frameworks, and automation tools to deliver high-quality solutions on time and within budget.
- Innovation and technology: COFORGE LTD has a strong focus on innovation and technology to create value for its clients and stakeholders. It has established several research centers, innovation labs, digital studios, etc., to explore new ideas and technologies.
- Talent and culture: COFORGE LTD nurtures a learning culture that fosters innovation, collaboration, and performance among its employees. It has a culture of respect, diversity, and inclusion that empowers its employees.
Growth Prospects for COFORGE LTD
COFORGE LTD has several growth opportunities in the current and future market scenarios. Some of these are:
- Digital transformation: COFORGE LTD helps its clients leverage digital technologies such as cloud, analytics, artificial intelligence, etc., to transform their business processes, products, and services.
- New markets: COFORGE LTD expands its presence in new markets such as Europe, Japan, etc., where there is a growing demand for IT services.
- New segments: COFORGE LTD diversifies its portfolio by entering new segments such as healthcare, life sciences, energy, utilities, etc., where there is a potential for growth and innovation.
- New offerings: COFORGE LTD launches new offerings and solutions that address the emerging needs and challenges of its clients, such as cybersecurity, sustainability, customer experience, etc.
Final Thoughts on Top 10 IT Stocks List in India
And there you have it, the crème de la crème of the Indian IT sector – our curated top 10 IT stocks list in India.
These trailblazers stand as shining examples of innovation and resilience in a fast-paced, ever-evolving digital world. As we’ve navigated through their unique journeys and remarkable growth stories, one thing stands out: The IT sector in India is more than just a robust industry; it’s a testament to our nation’s ability to adapt, innovate, and lead on a global stage.
Remember, investing is more than just numbers on a screen; it’s about being part of a story, a journey of growth, and these IT stocks certainly offer compelling narratives.
However, while these stocks carry immense potential, they also come with risks, as is the case with any investment. We strongly recommend doing thorough research, understanding the market trends, and possibly seeking professional advice before making any investment decisions.
Stay tuned for more insights and guidance from the bustling world of Indian stocks. Here’s to smart investing and brighter financial futures!
FAQs on Top 10 IT Stocks List in India
Which are the best IT stocks List to buy in India?
TCS Ltd, HCL Technology, Infosys Ltd, Larsen, and Toubro Technology are considered some of the best IT stocks to buy in India. These companies have a strong presence in the technology industry and offer promising investment opportunities.
Which is India’s No. 1 IT stock?
TCS is the No. 1 IT Stock in India by market capitalization. It is overall the second biggest company in India after Reliance Industries.
Between TCS and Infosys which IT stock is better to Invest?
As per the stock price performance in the last 5 years, TCS has given more returns than Infosys. Also, TCS is much bigger as a company than Infosys. As per the stock price performance, TCS is a better IT stock to invest in than Infosys.
