India IT Stocks
Track 13 IT services and software companies with historical returns, performance rankings, and investment analysis.
What's Driving India IT Stock Returns?
Updated: Nov 2026India's IT sector is the backbone of the country's services exports, generating over $250 billion annually. These companies provide software development, IT consulting, and business process outsourcing to global enterprises—particularly in banking, healthcare, and retail.
Tier 1 IT companies are currently outperforming with an average 1-year return of -5.6%, while Tier 2 IT returns -8.3%.
Key themes: AI services adoption (GenAI consulting, automation), cloud migration deals, margin pressures from wage inflation, and US/Europe discretionary spending which drives 60%+ of revenue for most IT majors.
Of the 13 IT stocks tracked, 5 delivered positive returns over the past year. The top performer, TECHM, returned +27.4%, while KPITTECH was the weakest at -54.5%. The median IT stock returned -8.0%.
Top 5 by 1-Year Return
India IT Stocks Monthly Returns (Dec'25 – Nov'26)
Use this heatmap to compare month-by-month performance across IT stocks. Green = gain, red = loss. Click any ticker for detailed analysis.
| Stock | Dec'25 | Jan'26 | Feb'26 | Mar'26 | Apr'26 | May'26 | Jun'26 | Jul'26 | Aug'26 | Sep'26 | Oct'26 | Nov'26 | Total |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| OFSS | -5% | +1% | -11% | -3% | +45% | +5% | +8% | +4% | +12% | -15% | -6% | — | +26.8% |
| PAYTM | -2% | -12% | -3% | -13% | +14% | +2% | +2% | +18% | +28% | -2% | -3% | — | +23.8% |
| TECHM | +5% | +10% | -22% | +2% | +6% | +1% | -5% | +21% | -1% | -6% | +18% | — | +22.1% |
| COFORGE | -13% | -0% | -28% | -6% | +7% | +19% | +3% | +17% | +16% | -12% | +17% | — | +7.6% |
| PERSISTENT | -1% | -3% | -22% | +3% | -2% | +8% | -17% | +29% | +1% | -6% | +15% | — | -4.1% |
| MPHASIS | -1% | -1% | -17% | -11% | +11% | -0% | -5% | +11% | +4% | -11% | +17% | — | -7.7% |
| HCLTECH | -0% | +5% | -18% | -3% | -9% | -1% | -9% | +27% | -3% | -6% | +17% | — | -8.0% |
| TCS | +2% | -1% | -16% | -11% | +5% | -7% | -10% | +17% | +1% | -15% | +23% | — | -16.8% |
| WIPRO | +6% | -8% | -15% | -7% | +7% | +2% | -17% | +9% | +0% | -14% | +25% | — | -17.6% |
| INFY | +4% | +2% | -21% | -4% | -6% | -2% | -12% | +13% | +0% | -12% | +19% | — | -22.4% |
| TATAELXSI | +2% | +2% | -15% | -12% | +4% | +4% | -9% | -4% | -3% | -14% | +23% | — | -25.2% |
| LTIM | -1% | -1% | -25% | -6% | — | — | — | — | — | — | — | — | -31.0% |
| KPITTECH | -4% | -11% | -26% | -18% | +20% | +2% | -13% | -11% | -1% | -15% | +6% | — | -56.2% |
All India IT Stocks
The table below lists all 13 IT stocks sorted by market capitalization. The three largest — INFY, HCLTECH, WIPRO — represent 58% of the sector's total ₹18.4L Cr market cap.
| Stock | Market Cap | 1Y Return | 5Y Return | 10Y Return |
|---|---|---|---|---|
| INFY Infosys Limited | ₹4.8L Cr | -19.4% | -20.9% | +206.4% |
| HCLTECH HCL Technologies Limited | ₹3.9L Cr | -1.9% | +36.8% | +390.4% |
| WIPRO Wipro Limited | ₹2.0L Cr | -15.3% | -33.6% | +124.2% |
| TECHM Tech Mahindra Limited | ₹1.8L Cr | +27.4% | +46.8% | +433.7% |
| LTIM LTIMindtree Ltd | ₹1.3L Cr | -9.8% | +9.7% | N/A |
| PAYTM One97 Communications Limited | ₹1.0L Cr | +27.0% | N/A | N/A |
| PERSISTENT Persistent Systems Limited | ₹100K Cr | +4.5% | +248.2% | +1934.5% |
| COFORGE Coforge Limited | ₹91K Cr | +17.0% | +100.3% | +2681.4% |
| OFSS Oracle Financial Services | ₹87K Cr | +21.9% | +172.9% | +330.5% |
| MPHASIS Mphasis Limited | ₹48K Cr | -8.0% | -12.0% | +531.6% |
| TATAELXSI Tata Elxsi Limited | ₹24K Cr | -30.4% | -30.2% | +420.7% |
| KPITTECH KPIT Technologies Limited | ₹14K Cr | -54.5% | +56.0% | N/A |
| TCS Tata Consultancy Services | N/A | -14.8% | -24.5% | +142.5% |
About India IT Stocks
India's Information Technology sector is one of the world's largest, with combined revenues exceeding $250 billion. The sector employs over 5 million professionals and serves Fortune 500 clients across banking, healthcare, retail, and manufacturing.
The sector is dominated by INFY (₹4.8L Cr), HCLTECH (₹3.9L Cr), and WIPRO (₹2.0L Cr), which together account for 58% of the sector's market value.
Tier 1 vs Tier 2 IT Companies
Key Drivers for IT Stocks
- US/Europe IT spending: 60-70% of revenue comes from these markets. Discretionary spending drives deal wins.
- AI & GenAI adoption: Companies pivoting to AI consulting and automation see higher growth.
- USD/INR exchange rate: A weaker rupee benefits exporters' rupee revenue and margins.
- Wage inflation: Attrition and salary hikes impact margins, especially for Tier 2 players.
- Cloud migration deals: Multi-year digital transformation contracts provide revenue visibility.