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Indian market · Previous close · 19 Oct, 3:30 pm IST
Themes / AI / IT

AI / IT

IT services and software names that can benefit from AI-led enterprise spending.

ITAuto-built
Theme price path

AI / IT vs Nifty 500

Weekly basket performance over the latest 52 observations. Green is ahead of Nifty 500; red is behind.

Through 19 Oct 2026
Coverage healthy
Theme aheadTheme behindNifty 500Base 100 at the first visible weekLatest: Underperforming -10.6%
6776869510531 Oct 2025 | AI / IT 100.0 | Nifty 500 100.0 | In line 0.0% | breadth 38% | coverage 89%07 Nov 2025 | AI / IT 98.0 | Nifty 500 99.2 | Underperforming -1.2% | breadth 22% | coverage 89%14 Nov 2025 | AI / IT 98.4 | Nifty 500 100.5 | Underperforming -2.1% | breadth 52% | coverage 89%21 Nov 2025 | AI / IT 95.7 | Nifty 500 100.3 | Underperforming -4.6% | breadth 21% | coverage 89%28 Nov 2025 | AI / IT 95.6 | Nifty 500 100.9 | Underperforming -5.3% | breadth 45% | coverage 90%05 Dec 2025 | AI / IT 94.2 | Nifty 500 100.5 | Underperforming -6.3% | breadth 35% | coverage 92%12 Dec 2025 | AI / IT 93.6 | Nifty 500 100.1 | Underperforming -6.5% | breadth 40% | coverage 92%19 Dec 2025 | AI / IT 92.6 | Nifty 500 99.9 | Underperforming -7.3% | breadth 33% | coverage 92%26 Dec 2025 | AI / IT 92.9 | Nifty 500 100.3 | Underperforming -7.4% | breadth 51% | coverage 92%02 Jan 2026 | AI / IT 93.5 | Nifty 500 101.6 | Underperforming -8.0% | breadth 51% | coverage 92%09 Jan 2026 | AI / IT 89.6 | Nifty 500 99.0 | Underperforming -9.5% | breadth 16% | coverage 92%16 Jan 2026 | AI / IT 88.6 | Nifty 500 99.1 | Underperforming -10.6% | breadth 36% | coverage 93%23 Jan 2026 | AI / IT 82.5 | Nifty 500 95.8 | Underperforming -13.9% | breadth 6% | coverage 93%01 Feb 2026 | AI / IT 84.0 | Nifty 500 95.4 | Underperforming -11.9% | breadth 59% | coverage 93%06 Feb 2026 | AI / IT 84.5 | Nifty 500 98.8 | Underperforming -14.5% | breadth 52% | coverage 93%13 Feb 2026 | AI / IT 83.8 | Nifty 500 98.3 | Underperforming -14.8% | breadth 37% | coverage 94%20 Feb 2026 | AI / IT 82.8 | Nifty 500 98.7 | Underperforming -16.1% | breadth 35% | coverage 94%27 Feb 2026 | AI / IT 79.5 | Nifty 500 97.7 | Underperforming -18.6% | breadth 21% | coverage 96%06 Mar 2026 | AI / IT 75.7 | Nifty 500 94.8 | Underperforming -20.1% | breadth 17% | coverage 96%13 Mar 2026 | AI / IT 73.0 | Nifty 500 90.2 | Underperforming -19.1% | breadth 24% | coverage 96%20 Mar 2026 | AI / IT 73.1 | Nifty 500 90.0 | Underperforming -18.8% | breadth 47% | coverage 96%27 Mar 2026 | AI / IT 69.8 | Nifty 500 88.7 | Underperforming -21.3% | breadth 18% | coverage 96%02 Apr 2026 | AI / IT 72.6 | Nifty 500 88.3 | Underperforming -17.8% | breadth 84% | coverage 96%10 Apr 2026 | AI / IT 79.4 | Nifty 500 94.2 | Underperforming -15.7% | breadth 93% | coverage 96%17 Apr 2026 | AI / IT 83.8 | Nifty 500 96.5 | Underperforming -13.2% | breadth 87% | coverage 96%24 Apr 2026 | AI / IT 81.4 | Nifty 500 95.2 | Underperforming -14.5% | breadth 27% | coverage 96%30 Apr 2026 | AI / IT 82.5 | Nifty 500 95.7 | Underperforming -13.8% | breadth 61% | coverage 99%08 May 2026 | AI / IT 85.9 | Nifty 500 97.5 | Underperforming -11.9% | breadth 73% | coverage 99%15 May 2026 | AI / IT 81.4 | Nifty 500 95.0 | Underperforming -14.3% | breadth 15% | coverage 99%22 May 2026 | AI / IT 82.8 | Nifty 500 95.5 | Underperforming -13.3% | breadth 58% | coverage 99%29 May 2026 | AI / IT 84.0 | Nifty 500 95.6 | Underperforming -12.1% | breadth 57% | coverage 99%05 Jun 2026 | AI / IT 84.3 | Nifty 500 94.8 | Underperforming -11.1% | breadth 46% | coverage 99%12 Jun 2026 | AI / IT 83.6 | Nifty 500 95.3 | Underperforming -12.3% | breadth 38% | coverage 99%19 Jun 2026 | AI / IT 86.3 | Nifty 500 97.7 | Underperforming -11.7% | breadth 69% | coverage 99%26 Jun 2026 | AI / IT 85.2 | Nifty 500 97.5 | Underperforming -12.6% | breadth 29% | coverage 99%03 Jul 2026 | AI / IT 86.2 | Nifty 500 98.3 | Underperforming -12.3% | breadth 56% | coverage 99%10 Jul 2026 | AI / IT 86.3 | Nifty 500 98.5 | Underperforming -12.4% | breadth 45% | coverage 99%17 Jul 2026 | AI / IT 85.6 | Nifty 500 98.4 | Underperforming -13.0% | breadth 38% | coverage 99%24 Jul 2026 | AI / IT 84.2 | Nifty 500 96.7 | Underperforming -12.9% | breadth 28% | coverage 99%31 Jul 2026 | AI / IT 85.7 | Nifty 500 98.9 | Underperforming -13.3% | breadth 64% | coverage 99%07 Aug 2026 | AI / IT 87.8 | Nifty 500 100.0 | Underperforming -12.2% | breadth 61% | coverage 99%14 Aug 2026 | AI / IT 87.1 | Nifty 500 99.5 | Underperforming -12.5% | breadth 40% | coverage 99%21 Aug 2026 | AI / IT 87.3 | Nifty 500 99.1 | Underperforming -11.9% | breadth 46% | coverage 99%28 Aug 2026 | AI / IT 87.9 | Nifty 500 99.2 | Underperforming -11.4% | breadth 54% | coverage 99%04 Sept 2026 | AI / IT 86.9 | Nifty 500 98.1 | Underperforming -11.4% | breadth 32% | coverage 99%11 Sept 2026 | AI / IT 85.8 | Nifty 500 96.4 | Underperforming -11.0% | breadth 30% | coverage 99%18 Sept 2026 | AI / IT 85.0 | Nifty 500 96.3 | Underperforming -11.7% | breadth 37% | coverage 100%25 Sept 2026 | AI / IT 85.9 | Nifty 500 95.3 | Underperforming -9.9% | breadth 51% | coverage 100%01 Oct 2026 | AI / IT 83.4 | Nifty 500 92.2 | Underperforming -9.5% | breadth 20% | coverage 100%09 Oct 2026 | AI / IT 82.8 | Nifty 500 92.2 | Underperforming -10.2% | breadth 41% | coverage 99%16 Oct 2026 | AI / IT 84.7 | Nifty 500 93.9 | Underperforming -9.8% | breadth 62% | coverage 100%19 Oct 2026 | AI / IT 83.1 | Nifty 500 93.0 | Underperforming -10.6% | breadth 14% | coverage 99%Underperforming -10.6%31 Oct 202524 Apr 202619 Oct 2026
Theme return
-16.9%
Nifty 500
-7.0%
Vs Nifty 500
-10.6%
Latest coverage
177/178
How this plot is calculated

The theme line is green when its cumulative rebased performance is above Nifty 500 and red when it is below. The chart callout shows the latest relative performance as the theme level divided by the benchmark level, minus one.

The basket uses the theme's current reviewed companies. For each available week, we calculate every valid constituent's close-to-close return and give each company the same weight. If a weekly rollup is missing or lags the daily series, the final available daily close in that week is used.

For baskets with at least 10 valid stocks, the highest and lowest 5% of weekly returns are trimmed to reduce split, corporate-action, and single-stock distortions. Weekly basket returns are then compounded and rebased to 100 beside the Nifty 500.

Breadth is the share of valid constituents that rose that week. Coverage is the number with usable aligned prices divided by current membership. Weekly moves above 80% are excluded as likely data or corporate-action outliers.

Limitation: this is a current-membership historical reconstruction, not a point-in-time investable index. It can contain survivorship bias and excludes costs, liquidity impact, dividends, and rebalancing turnover.

Model note: Current-member weekly equal-weight returns (5% tails trimmed for baskets of 10+), compounded and rebased to 100 against Nifty 500; lagging weekly rollups are patched with the final available daily close, and rotation uses 13-week excess return with four-week acceleration.

Theme scorecard

Measures whether this idea is investable today by blending cohort quality, valuation cushion, and price momentum. It is a research filter, not advice.

Build portfolio from this theme
Theme
37
Stretched
Quality
27
Valuation
42
Momentum
50
Positive MoS
43%
P/E 47.2 · ROCE 17%
Curated research view

IT / Technology

A focused investor view: high-conviction names first, then small/micro exposure only as controlled satellite risk. Live U-Score and MoS still come from the current database.

64/100
Theme score
Moderate
Investability
43.5
Live avg U
-638.3%
Live avg MoS

High-conviction shortlist

#1EXPLEOSOL
Expleo Solutions Limited
87
U
SmallMoS +69.3%Piotroski 8/9
#2OSWALPUMPS
Oswal Pumps Limited
86
U
MicroMoS +78.7%Piotroski 6/9
#3CEINSYS
Ceinsys Tech Limited
83
U
SmallMoS +69.4%Piotroski 8/9
#4IRIS
IRIS RegTech Solutions Limited
81
U
SmallMoS +89.2%Piotroski 7/9
#5ACCELYA
Accelya Solutions India Limited
81
U
SmallMoS +46.9%Piotroski 8/9
#6GVPTECH
GVP Infotech Limited
79
U
SmallMoS +93.3%Piotroski 6/9
#7ALLDIGI
Alldigi Tech Limited
79
U
SmallMoS +56.2%Piotroski 8/9
#8INFOBEAN
InfoBeans Technologies Limited
77
U
SmallMoS +43.5%Piotroski 8/9
#9RADHIKAJWE
Radhika Jeweltech Limited
72
U
SmallMoS +68.6%Piotroski 6/9
#10SOLARWORLD
Solarworld Energy Solutions Limited
72
U
SmallMoS +64.2%Piotroski 6/9
#11WAAREERTL
Waaree Renewable Technologies Limited
72
U
MicroMoS +53.9%Piotroski 8/9
#12ZENSARTECH
Zensar Technologies Limited
72
U
SmallMoS +53.2%Piotroski 8/9

Curated company map

Names from the curated theme note. Solid chips are present in the live eligible cohort; dashed chips need membership review, ticker verification, or may be indirect/unlisted exposure.

11/12 live eligible
TCSINFYHCLTECHTECHMWIPROLTIMPERSISTENTCOFORGEMPHASISOFSSKPITTECHCYIENT

Investment thesis

Indian IT benefits from cloud, GenAI, engineering services, cost optimisation, and global outsourcing, though growth is slower than the post-COVID boom.

1-2 year outlook: Cautiously optimistic. Tier-1 names are defensive; mid-caps offer niche growth.
Recommended allocation: 8-12%.

Key triggers

  • GenAI and cloud projects
  • Large deal conversion
  • Rupee depreciation
  • BFSI and manufacturing demand

Major risks

  • Global IT slowdown
  • Pricing pressure
  • Wage inflation
  • Geopolitical outsourcing risk
Small, micro, and SME names should be opt-in exposure. Suggested filters: U-Score above 65, positive MoS, Piotroski 7+, debt/equity below 0.8, promoter pledge below 10%, and enough traded value to exit without slippage.

Thesis

A data-generated AI / IT basket using the IT tag as the current investable proxy. As AI-specific tagging improves, this cohort can split into AI services, platforms, data centres, and semiconductor supply-chain themes.

  • ▸Enterprise digital and AI budgets
  • ▸Asset-light cash generation
  • ▸Quality and growth vary sharply by company

Top picks · ranked by U-Score within this cohort

#1EXPLEOSOLSmall
Expleo Solutions Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +69.3%Piotroski: 8/9ROCE: 24%P/E: 9.1D/E: 0.01
87
U-Score
₹875.55
Open →
#2OSWALPUMPSMicro
Oswal Pumps Limited
Industrials
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +78.7%Piotroski: 6/9ROCE: 36%P/E: 8.8D/E: 0.14
86
U-Score
₹246.75
Open →
#3CEINSYSSmall
Ceinsys Tech Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +69.4%Piotroski: 8/9ROCE: 28%P/E: 10.2D/E: 0.08
83
U-Score
₹674.30
Open →

Full cohort

IRISSmall
IRIS RegTech Solutions Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +89.2%Piotroski: 7/9ROCE: 11%P/E: 35.4D/E: 0.01
81
U-Score
₹212.32
Open →
ACCELYASmall
Accelya Solutions India Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +46.9%Piotroski: 8/9ROCE: 49%P/E: 15.9D/E: 0.06
81
U-Score
₹1089.80
Open →
GVPTECHSmall
GVP Infotech Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +93.3%Piotroski: 6/9ROCE: 72%P/E: 3.5D/E: 0.03
79
U-Score
₹6.77
Open →
ALLDIGISmall
Alldigi Tech Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +56.2%Piotroski: 8/9ROCE: 28%P/E: 12.4D/E: 0.68
79
U-Score
₹788.70
Open →
INFOBEANSmall
InfoBeans Technologies Limited
IT
DEEP VALUE

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +43.5%Piotroski: 8/9ROCE: 29%P/E: 16.9D/E: 0.04
77
U-Score
₹158.90
Open →
RADHIKAJWESmall
Radhika Jeweltech Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +68.6%Piotroski: 6/9ROCE: 25%P/E: 10.2D/E: 0.15
72
U-Score
₹68.02
Open →
SOLARWORLDSmall
Solarworld Energy Solutions Limited
Power
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +64.2%Piotroski: 6/9ROCE: 24%P/E: 9.2D/E: 0.30
72
U-Score
₹121.73
Open →
WAAREERTLMicro
Waaree Renewable Technologies Limited
Industrials
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +53.9%Piotroski: 8/9ROCE: 83%P/E: 18.1D/E: 0.16
72
U-Score
₹826.20
Open →
ZENSARTECHSmall
Zensar Technologies Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +53.2%Piotroski: 8/9ROCE: 23%P/E: 14.5D/E: 0.02
72
U-Score
₹513.15
Open →
CPEDUSmall
Career Point Edutech Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +57.0%Piotroski: 8/9ROCE: 47%P/E: 14.0D/E: 0.00
71
U-Score
₹180.90
Open →
TPLPLASTEHSmall
TPL Plastech Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +45.6%Piotroski: 8/9ROCE: 22%P/E: 17.6D/E: 0.11
71
U-Score
₹67.39
Open →
ONWARDTECSmall
Onward Technologies Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +33.4%Piotroski: 8/9ROCE: 23%P/E: 19.1D/E: 0.18
70
U-Score
₹453.35
Open →
INFYLarge
Infosys Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +36.8%Piotroski: 8/9ROCE: 40%P/E: 14.2D/E: 0.10
69
U-Score
₹1130.70
Open →
TERASOFTSmall
Tera Software Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +65.8%Piotroski: 6/9ROCE: 25%P/E: 11.5D/E: 0.27
68
U-Score
₹217.50
Open →
CALSOFTSmall
California Software Company Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +50.6%Piotroski: 5/9ROCE: 42%P/E: 19.4D/E: 0.05
68
U-Score
₹31.99
Open →
INSPIRISYSSmall
Inspirisys Solutions Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +73.9%Piotroski: 8/9ROCE: 27%P/E: 8.1D/E: 0.81
67
U-Score
₹82.07
Open →
NIITMTSSmall
NIIT Learning Systems Limited
IT
UNDERVALUED

Auto-included from the IT tag. Use the scorecard and metrics to decide whether it fits your thesis.

MoS: +67.1%Piotroski: 8/9ROCE: 21%P/E: 12.0D/E: 0.21
67
U-Score
₹196.53
Open →
Sign in for the full theme cohort

The first 20 ranked names are open. Sign in to see every company attached to this theme. 158 more rows available after sign-in.

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The rationale above is editorial — the ranking uses our U-Score engine so the names you see first are the strongest fundamentals fit, not the most popular or most-mentioned. Re-rank yourself if you weigh valuation or quality differently. All information is for study purposes only — consult your financial advisor before investing.
AI / IT Stocks in India: Theme Analysis & Companies | IndiaPulse