The market in India has stayed flat over the past 7 days but is up 43% over the past year, with earnings expected to grow by 17% per annum over the next few years. In this dynamic environment, identifying high growth tech stocks that can capitalize on these favorable conditions is crucial for investors seeking robust returns.
| Name | Revenue Growth | Earnings Growth | Growth Rating |
|---|---|---|---|
| Tips Industries | 24.69% | 24.16% | ★★★★★★ |
| Newgen Software Technologies | 21.83% | 22.72% | ★★★★★★ |
| Happiest Minds Technologies | 22.15% | 22.22% | ★★★★★★ |
| Coforge | 14.16% | 22.47% | ★★★★★☆ |
| C. E. Info Systems | 29.94% | 26.97% | ★★★★★★ |
| Netweb Technologies India | 33.65% | 35.61% | ★★★★★★ |
| Sterlite Technologies | 21.41% | 101.08% | ★★★★★☆ |
| Tejas Networks | 23.05% | 63.54% | ★★★★★☆ |
| Avalon Technologies | 20.12% | 41.74% | ★★★★★☆ |
| INOX Leisure | 17.73% | 66.63% | ★★★★★☆ |
Below we spotlight a couple of our favorites from our exclusive screener.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Persistent Systems Limited provides software products, services, and technology solutions in India, North America, and internationally with a market cap of ₹771.19 billion.
Operations: The company’s revenue streams are diversified across three primary segments: Healthcare & Life Sciences (₹23.88 billion), Software, Hi-Tech and Emerging Industries (₹46.41 billion), and Banking, Financial Services and Insurance (BFSI) (₹32.08 billion).
Persistent Systems, a prominent player in India’s tech sector, has shown robust growth with earnings forecasted to increase by 19.2% annually and revenue expected to rise by 13.6% per year. The company reported Q1 2024 sales of ₹27.37 billion, up from ₹23.21 billion the previous year, indicating strong market performance. Persistent’s strategic partnership with Mage Data™ enhances its data security services portfolio, crucial for regulatory compliance and enterprise security across industries. Notably, the GenAI Hub platform facilitates seamless integration of Generative AI applications within enterprises, driving innovation without provider lock-in.
Simply Wall St Growth Rating: ★★★★★☆
Overview: Sonata Software Limited, along with its subsidiaries, offers information technology services and solutions across the United States, Europe, the Middle East, Asia, India, and Australia with a market cap of ₹185.54 billion.
Operations: Sonata Software Limited, through its subsidiaries, delivers IT services and solutions globally. The company operates in multiple regions including the United States, Europe, the Middle East, Asia, India, and Australia.
Sonata Software’s revenue is projected to grow at 13.3% annually, outpacing the Indian market’s 10% growth rate. Earnings are expected to rise by 29.8% per year, significantly higher than the market average of 16.9%. The company recently secured a strategic IT outsourcing partnership with a US-based healthcare firm, enhancing its portfolio in AI and hyper-automation for patient systems and back-office operations. Despite a one-off loss of ₹1.5 billion affecting recent results, Sonata continues to invest heavily in R&D to drive future innovation and maintain competitive advantage in high-growth tech sectors.
Simply Wall St Growth Rating: ★★★★☆☆
Overview: Tech Mahindra Limited provides information technology services and solutions globally, with a market cap of ₹1.45 trillion.
Operations: Tech Mahindra generates revenue primarily from IT Services (₹439.48 billion) and Business Process Outsourcing (BPO) services (₹78.94 billion). The company operates across the Americas, Europe, India, and other international markets.
Tech Mahindra’s earnings are projected to grow at an impressive 29.1% annually, significantly outpacing the Indian market’s average of 16.9%. Despite revenue growth forecasted at a moderate 6.9% per year, the company’s strategic partnerships and innovations in ORAN and cybersecurity are poised to drive future success. Notably, Tech Mahindra invests heavily in R&D, spending ₹5 billion annually to stay ahead in AI and telecom sectors. Recent collaborations with Northeastern University and Horizon3.ai underscore its commitment to cutting-edge technology solutions.
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.
Discover if Tech Mahindra might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.
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