3 Data Operations Firm, Engineering R&D Services Company and Global IT Services Group Stocks With a Strong Future Roadmap: eClerx Services, L&T Technology Services and HCL Technologies
- October 28, 2026
- Posted by: Harsh Piplani
- Category: Best Stocks
eClerx Services, L&T Technology Services and HCL Technologies: ROE of 21.7% to 27.6% and FY22 to FY26 revenue CAGR of 11.0% to 17.9%. Prices as of 27 Oct 2026.
Quick Answer
The three data operations, R&D and large IT stocks to watch are eClerx Services, L&T Technology Services and HCL Technologies. Their return on equity ranges from 21.7% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.0% to 17.9%. eClerx Services leads on both return on equity at 27.6% and revenue growth at 17.9% a year. Prices are based on the 27 October 2026 close, and this article is educational, not investment advice.
Data operations, R&D and large IT stocks bring together companies with a visible plan for the years ahead. eClerx Services, L&T Technology Services and HCL Technologies cover a data operations firm, an engineering R&D services company and a global IT services group.
This list covers three data operations, R&D and large IT stocks with complete current figures: eClerx Services, L&T Technology Services and HCL Technologies. Every figure comes from the latest reported financials and the 27 October 2026 market close. Companies without complete current figures were left out.
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What Are Data Operations, R&D and Large IT Stocks?
Data operations, R&D and large IT stocks are listed technology companies that provide data, analytics and operations services, engineering research and development and software and infrastructure services to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency.
Data Operations, R&D and Large IT Stocks at a Glance
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE (%) | D/E |
|---|---|---|---|---|---|---|
| eClerx Services | 1,896.7 | 18,062 | 24.8 | 17.5 | 27.6 | 0.15 |
| L&T Technology Services | 4,174.2 | 41,952 | 27.2 | 17.9 | 21.7 | 0.08 |
| HCL Technologies | 1,420 | 384,255 | 21.0 | 17.6 | 24.1 | 0.08 |
On valuation, all three trade at a P/E above their industry P/E, which reflects the growth the market already expects from them. Readers comparing data operations, R&D and large IT stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.
Why Do Data Operations, R&D and Large IT Stocks Have a Strong Roadmap in India?
Data operations, R&D and large IT stocks have a strong roadmap in India because outsourced data work, engineering design and large multi-year technology programmes keep widening the market for Indian services firms.
- Data operations. Clients outsource analytics and support.
- Engineering R&D. Global makers outsource design and testing.
- Large deals. Multi-year contracts add revenue visibility.
Why eClerx Services Features Among These Data Operations, R&D and Large IT Stocks
Among the data operations, R&D and large IT stocks on this list, eClerx Services, based in Mumbai, offers data analytics, digital operations and process services to financial services, retail and technology clients.
The company has a return on equity of 27.6%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 18,062 crore. The stock trades at a P/E of 24.8, above the industry P/E of 17.5.
Revenue rose from Rs 2,185 crore in FY22 to Rs 4,218 crore in FY26, a compound annual growth rate of 17.9%. Net profit grew from Rs 418 crore in FY22 to Rs 706 crore in FY26, which works out to a compound annual growth rate of 14.0%. In the June 2026 quarter, revenue grew 23.8% year on year to Rs 1,170 crore, while net profit rose 16.0% to Rs 164 crore.
Roadmap: Clients are buying more data and automation work, and eClerx is adding artificial intelligence-led offerings. A balance sheet with little debt and high returns on capital gives it flexibility to invest and return cash.
What to watch: Monitor client additions and growth in digital offerings.
Why L&T Technology Services Features Among These Data Operations, R&D and Large IT Stocks
Among the analytics operations, engineering and IT shares on this list, L&T Technology Services provides engineering and research and development services to global customers in transportation, industrial products, telecom, plant engineering and medical devices.
Revenue rose from Rs 6,722 crore in FY22 to Rs 11,217 crore in FY26, a compound annual growth rate of 13.7%. Net profit grew from Rs 961 crore in FY22 to Rs 1,230 crore in FY26, which works out to a compound annual growth rate of 6.4%.
The company has a return on equity of 21.7%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 41,952 crore. The stock trades at a P/E of 27.2, above the industry P/E of 17.9.
Roadmap: The company is growing in areas such as electric mobility, software-defined products and sustainability, where manufacturers outsource design and testing. Deep domain skills help it win multi-year programmes.
What to watch: Follow large deal wins, margin trends and demand from transportation and technology clients.
Why HCL Technologies Features Among These Data Operations, R&D and Large IT Stocks
Among the three companies on this list, HCL Technologies is a Noida-headquartered global technology company that provides software services, engineering and R&D services, infrastructure management and its own software products to large enterprises.
Revenue rose from Rs 86,718 crore in FY22 to Rs 131,674 crore in FY26, a compound annual growth rate of 11.0%. Net profit grew from Rs 13,523 crore in FY22 to Rs 16,652 crore in FY26, which works out to a compound annual growth rate of 5.3%.
The company has a return on equity of 24.1%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 384,255 crore. The stock trades at a P/E of 21.0, above the industry P/E of 17.6.
Roadmap: The company is building its business around cloud, data and artificial intelligence services and large multi-year deals with global clients. Its engineering services and software product lines add recurring revenue alongside core IT services.
What to watch: Monitor large deal wins, demand for artificial intelligence services and currency movements.
eClerx Services vs L&T Technology Services vs HCL Technologies on Key Financials
The table below sets the three data operations, R&D and large IT stocks side by side on revenue, profit and margin, using reported figures.
| Company | FY22 Revenue (Rs Cr) | FY26 Revenue (Rs Cr) | Revenue CAGR (FY22-FY26) | FY26 Net Profit (Rs Cr) | FY26 Net Margin |
|---|---|---|---|---|---|
| eClerx Services | 2,185 | 4,218 | 17.9% | 706 | 16.7% |
| L&T Technology Services | 6,722 | 11,217 | 13.7% | 1,230 | 11.0% |
| HCL Technologies | 86,718 | 131,674 | 11.0% | 16,652 | 12.6% |
eClerx Services posts the highest return on equity in this group at 27.6%. HCL Technologies has the largest FY26 revenue at Rs 131,674 crore, and eClerx Services shows the fastest revenue growth with a 17.9% compound annual rate. A useful habit with data operations, R&D and large IT stocks is to check each new quarterly result against the capacity plans the company described earlier.
Key Risks to Check Before Investing in Data Operations, R&D and Large IT Stocks
Every theme carries risks that deserve a check before any decision. For these data operations, R&D and large IT stocks, the main points are:
- Deal timing. Large contracts can shift between periods.
- Client budgets. Spending can vary with global conditions.
- Currency moves. Export earnings move with the rupee.
Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.
Use the Univest Stock Screener to filter data operations, R&D and large IT stocks by market capitalisation, P/E, ROE and growth, and build your own shortlist.
Final Thoughts on Data Operations, R&D and Large IT Stocks
Data operations, R&D and large IT stocks suit investors who prefer to study business strength before price moves. eClerx Services, L&T Technology Services and HCL Technologies each have a clear plan to grow. Based on the 27 October 2026 close, eClerx Services trades at Rs 1,896.7, L&T Technology Services at Rs 4,174.2 and HCL Technologies at Rs 1,420.
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Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
What are data operations, R&D and large IT stocks?
Ans. Data operations, R&D and large IT stocks are listed technology companies that provide data, analytics and operations services, engineering research and development and software and infrastructure services to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, eClerx Services, L&T Technology Services and HCL Technologies, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.
Which data operations, R&D and large IT stocks are covered in this list?
Ans. This list covers eClerx Services, L&T Technology Services and HCL Technologies. Based on the 27 October 2026 close, eClerx Services traded at Rs 1,896.7, L&T Technology Services at Rs 4,174.2 and HCL Technologies at Rs 1,420. Their return on equity ranges from 21.7% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 11.0% to 17.9%.
Why do data operations, R&D and large IT stocks have a strong future roadmap in India?
Ans. Data operations, R&D and large IT stocks have a strong roadmap in India because outsourced data work, engineering design and large multi-year technology programmes keep widening the market for Indian services firms. The main drivers are as follows. Data operations. Clients outsource analytics and support. Engineering R&D. Global makers outsource design and testing. Large deals. Multi-year contracts add revenue visibility. Together these factors give the companies on this list a visible path for growth over the coming years.
How has eClerx Services performed financially?
Ans. Revenue rose from Rs 2,185 crore in FY22 to Rs 4,218 crore in FY26, a compound annual growth rate of 17.9%. Net profit grew from Rs 418 crore in FY22 to Rs 706 crore in FY26, which works out to a compound annual growth rate of 14.0%. In the June 2026 quarter, revenue grew 23.8% year on year to Rs 1,170 crore, while net profit rose 16.0% to Rs 164 crore. The company has a return on equity of 27.6%, a debt to equity ratio of 0.15 and a market capitalisation of Rs 18,062 crore. The stock trades at a P/E of 24.8, above the industry P/E of 17.5. Looking ahead, clients are buying more data and automation work, and eClerx is adding artificial intelligence-led offerings. A balance sheet with little debt and high returns on capital gives it flexibility to invest and return cash.
How has L&T Technology Services performed financially?
Ans. Revenue rose from Rs 6,722 crore in FY22 to Rs 11,217 crore in FY26, a compound annual growth rate of 13.7%. Net profit grew from Rs 961 crore in FY22 to Rs 1,230 crore in FY26, which works out to a compound annual growth rate of 6.4%. The company has a return on equity of 21.7%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 41,952 crore. The stock trades at a P/E of 27.2, above the industry P/E of 17.9. Looking ahead, the company is growing in areas such as electric mobility, software-defined products and sustainability, where manufacturers outsource design and testing. Deep domain skills help it win multi-year programmes.
How has HCL Technologies performed financially?
Ans. Revenue rose from Rs 86,718 crore in FY22 to Rs 131,674 crore in FY26, a compound annual growth rate of 11.0%. Net profit grew from Rs 13,523 crore in FY22 to Rs 16,652 crore in FY26, which works out to a compound annual growth rate of 5.3%. The company has a return on equity of 24.1%, a debt to equity ratio of 0.08 and a market capitalisation of Rs 384,255 crore. The stock trades at a P/E of 21.0, above the industry P/E of 17.6. Looking ahead, the company is building its business around cloud, data and artificial intelligence services and large multi-year deals with global clients. Its engineering services and software product lines add recurring revenue alongside core IT services.
What risks should investors check before buying data operations, R&D and large IT stocks?
Ans. Investors should check a few risks before buying data operations, R&D and large IT stocks. Deal timing. Large contracts can shift between periods. Client budgets. Spending can vary with global conditions. Currency moves. Export earnings move with the rupee. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.
Is this list of data operations, R&D and large IT stocks investment advice?
Ans. No. This article is educational and uses publicly available data as of the 27 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.
