The market is up 3.4% in the past week, with all sectors gaining and the financial sector leading the pack. Over the past year, the market is up 44%, with earnings expected to grow 17% annually. In such a dynamic environment, identifying high-growth technology stocks that fit these robust market conditions can be critical for investors looking to capitalize on India’s emerging technology sector.

The 10 fastest growing technology companies in India

Click here to see the full list of 38 stocks from our Indian High Growth Tech and AI Stocks Screener.

Here’s a quick look at some of the choices from the screener.

Simply Wall St Growth Rating: ★★★★★★

Overview: Happiest Minds Technologies Limited provides IT solutions and services across various geographies including India, USA, Canada, UK, Australia and several others with a market capitalization of Rs 123.32 billion.

Operations: The company provides IT solutions and services across multiple geographies and generates its revenue primarily from Infrastructure Management and Security Services (IMSS) which accounts for ₹302 billion with segment adjustment of ₹1369 billion.

Happiest Minds Technologies has demonstrated robust growth with revenues increasing at 22% annually, outperforming the Indian market growth rate of 10%. The company’s earnings are expected to grow at 21.8% per year, significantly higher than the industry average of 16.9%. In particular, their R&D spend underscores their commitment to innovation; for example, they invested ₹1.2 billion in R&D last year alone. Recent board expansions and new service offerings such as Watch360 further position them as a dynamic player in the IT services sector.

Simply Wall St Growth Rating: ★★★★★★

Overview: Newgen Software Technologies Limited is a software company that offers software products and solutions across various geographies including India, Europe, Middle East, Africa, Asia Pacific, Australia and the United States with a market capitalization of Rs 150.39 billion.

The story continues

Operations: The company has revenues of Rs 1307 crore, primarily from software and programming, and operates in several geographies including India, Europe, Middle East, Africa, Asia Pacific, Australia and the United States.

Newgen Software Technologies is poised for significant growth. Revenue is expected to grow at 21.8% and profit at 22.7% annually, outperforming the Indian market average of 16.9%. The company’s R&D spend reflects its strong commitment to innovation, with Rs 120 crore invested in the last fiscal alone. The recent launch of LumYn, an AI-powered hyper-personalization platform for banks, underscores the company’s focus on innovative solutions that improve customer experience and operational efficiency.

Simply Wall St Growth Rating: ★★★★☆☆

Overview: PVR INOX Limited is a cinema company engaged in the exhibition, distribution and production of films in India and Sri Lanka and has a market capitalization of Rs 148.67 billion.

Operations: The company generates revenue of Rs 5948 crore mainly from film exhibitions, to which further adjustments of Rs 329 crore contribute.

PVR INOX is expected to become profitable within the next three years, with revenues expected to grow at 12.3% annually, outperforming the Indian market average of 10%. Recent expansions include a new 9-screen multiplex in Ahmedabad and a luxury cinema in Udaipur, strengthening the company’s presence in central and western India. Although a net loss of ₹1.79 billion was reported for the first quarter of 2024, earnings are forecast to grow at an impressive 60.6% annually.

Key findings

• Start your investment journey here with our selection of 38 Indian high-growth tech and AI stocks.

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This Simply Wall St article is of a general nature. We comment solely on the basis of historical data and analyst forecasts, using an unbiased methodology. Our articles do not constitute financial advice. It is not a recommendation to buy or sell any stock and does not take into account your objectives or financial situation. Our goal is to provide you with long-term analysis based on fundamental data. Note that our analysis may not take into account the latest price-sensitive company announcements or qualitative materials. Simply Wall St does not hold any of the stocks mentioned.

Companies discussed in this article include NSEI:HAPPSTMNDS, NSEI:NEWGEN, and NSEI:PVRINOX.

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