Mid Cap IT Stocks to Buy in November 2026: 5 Names on the Watchlist
- November 6, 2026
- Posted by: Chaitanya Auti
- Category: Best Stocks
Coforge Rs 2,079. Mphasis Rs 2,510. Oracle FSS Rs 10,150. Zensar Rs 565.75. Intellect Design Rs 534.65. NSE closing prices, 5 Nov 2026.
Quick Answer
Five mid cap IT stocks to buy on the November 2026 watchlist are Coforge, Mphasis, Oracle Financial Services Software, Zensar Technologies and Intellect Design Arena. All five grew revenue in their latest full year, and all five also grew net profit. Zensar Technologies has the lowest P/E at 14.58, while Oracle Financial Services Software leads on return on equity at 46.42%. Check each valuation against your own risk appetite before acting.
The mid cap IT stocks to buy in November 2026 start with five listed names: Coforge, Mphasis, Oracle Financial Services Software, Zensar Technologies and Intellect Design Arena. These five companies sit below the largest IT majors such as TCS and Infosys. Coforge and Mphasis are part of the Nifty IT index, the wider benchmark for the sector.
This article ranks none of them as a sure thing. It lays out the numbers each company has reported, how the shares are priced today and what an investor should check before adding any of these mid cap IT stocks to buy to a portfolio. All prices are NSE closing prices of 5 November 2026, and financials come from company filings.
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Which Are the Best Mid Cap IT Stocks to Buy in November 2026?
The best mid cap IT stocks to buy in November 2026 for a watchlist are Coforge, Mphasis, Oracle Financial Services Software, Zensar Technologies and Intellect Design Arena. They were picked because each has complete reported financials, profit in the latest quarter and an NSE listing. The table puts their market data side by side.
| Company | CMP (Rs) | Market Cap | P/E | ROE | Dividend Yield |
|---|---|---|---|---|---|
| Coforge | 2,079 | Rs 86,836 crore | 41.36 | 9.80% | 0.61% |
| Mphasis | 2,510 | Rs 48,565 crore | 25.42 | 17.34% | 2.44% |
| Oracle Financial Services Software | 10,150 | Rs 86,964 crore | 24.37 | 46.42% | 4.00% |
| Zensar Technologies | 565.75 | Rs 11,320 crore | 14.58 | 16.41% | 3.00% |
| Intellect Design Arena | 534.65 | Rs 8,349 crore | 23.76 | 10.90% | 1.17% |
On valuation, Zensar Technologies trades below the industry P/E; Coforge, Mphasis, Oracle Financial Services Software and Intellect Design Arena carry a premium. Valuation is the first filter for any mid cap IT stocks to buy list, and it is covered again in the risk section.
Why These Mid Cap IT Stocks to Buy Are in Focus
In this list, FY26 net profit and revenue both grew for every company, and quarterly profit in the September 2026 quarter was higher than a year earlier for all five. The list covers a digital engineering and IT services company, an IT services company focused on banking and financial services, a banking software products company, a digital and technology services company in the RPG Group and a financial technology products company. Investors comparing the best mid cap IT stocks in India usually check deal wins, margins and how the shares are valued.
Coforge: The Mid-Cap Growth Story Among Mid Cap IT Stocks to Buy
Coforge is a digital engineering and IT services company serving travel, banking and insurance clients. Its market capitalisation is Rs 86,836 crore, the share price is Rs 2,079 and the P/E of 41.36 compares with an industry P/E of 18.92.
Over FY26, net profit rose 73.8% to Rs 1,674 crore on revenue of Rs 16,476 crore, which was up 34.6%. The latest quarter, the September 2026 quarter, brought revenue of Rs 6,195 crore, up 53.8% year on year, and net profit of Rs 605 crore, up 42.2%.
Return on equity is 9.80%, debt-to-equity is 0.27, and the dividend yield is 0.61%. The company has no identified promoter, with foreign institutions holding 24.76% and domestic institutions 43.78% as of September 2026.
Mphasis: The BFSI-Focused Services Name Among Mid Cap IT Stocks to Buy
Mphasis is an IT services company focused on banking, financial services and technology clients. The stock trades at Rs 2,510 with a market capitalisation of Rs 48,565 crore and a P/E of 25.42, against an industry P/E of 18.92.
FY26 revenue rose 11.9% to Rs 16,206 crore and net profit rose 9.4% to Rs 1,863 crore. In the June 2026 quarter, revenue grew 17.1% year on year to Rs 4,467 crore, while net profit grew 10.8% to Rs 490 crore.
Return on equity is 17.34%, debt-to-equity is 0.24, and the dividend yield is 2.44%. Promoters hold 30.53%, foreign institutions 19.39% and domestic institutions 45.85% as of September 2026. Domestic institutional holding has risen from 37.07% to 45.85% over the last year.
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Oracle Financial Services Software: The Banking Software Specialist Among Mid Cap IT Stocks to Buy
Oracle Financial Services Software is a banking and financial software products company that is majority-owned by Oracle. At Rs 10,150, the stock has a market capitalisation of Rs 86,964 crore and trades at 24.37 times earnings, while the industry P/E is 18.92.
Reported numbers show FY26 revenue of Rs 7,943 crore, up 11.1% year on year, with net profit at Rs 2,639 crore, up 10.9%. The September 2026 quarter added revenue of Rs 1,972 crore (up 6.3%) and net profit of Rs 702 crore (up 28.6%).
Return on equity is 46.42%, debt-to-equity is 0.00, and the dividend yield is 4.00%. Promoters hold 72.39%, foreign institutions 11.43% and domestic institutions 7.77% as of September 2026. Foreign institutional holding has risen from 8.65% to 11.43% over the last year.
Zensar Technologies: A Value-Priced Digital Services Name Among Mid Cap IT Stocks to Buy
Zensar Technologies is a digital and technology services company in the RPG Group, working on cloud, data and AI-enabled engineering. Its market capitalisation is Rs 11,320 crore, the share price is Rs 565.75 and the P/E of 14.58 compares with an industry P/E of 17.58.
Over FY26, net profit rose 19.2% to Rs 775 crore on revenue of Rs 5,921 crore, which was up 8.8%. The latest quarter, the September 2026 quarter, brought revenue of Rs 1,628 crore, up 10.7% year on year, and net profit of Rs 190 crore, up 4.4%.
Return on equity is 16.41%, debt-to-equity is 0.02, and the dividend yield is 3.00%. Promoters hold 48.98%, foreign institutions 10.21% and domestic institutions 21.71% as of September 2026.
Intellect Design Arena: A Fintech Product Company Among Mid Cap IT Stocks to Buy
Intellect Design Arena is a financial technology products company serving banks and insurers with core banking and cloud-native platforms. The stock trades at Rs 534.65 with a market capitalisation of Rs 8,349 crore and a P/E of 23.76, against an industry P/E of 17.58.
FY26 revenue rose 22.7% to Rs 3,161 crore and net profit rose 2.6% to Rs 343 crore. In the June 2026 quarter, revenue grew 18.9% year on year to Rs 873 crore, while net profit grew 8.7% to Rs 102 crore.
Return on equity is 10.90%, debt-to-equity is 0.05, and the dividend yield is 1.17%. Promoters hold 29.56%, foreign institutions 21.40% and domestic institutions 7.54% as of September 2026.
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Growth Snapshot: Latest Full Year and Latest Quarter
The table compares year-on-year growth in revenue and net profit for all five mid cap IT stocks, using filed results.
| Company | Full-Year Revenue Growth | Full-Year Profit Growth | Latest Quarter | Quarter Revenue Growth | Quarter Profit Growth |
|---|---|---|---|---|---|
| Coforge | 34.6% | 73.8% | Sep 2026 | 53.8% | 42.2% |
| Mphasis | 11.9% | 9.4% | Jun 2026 | 17.1% | 10.8% |
| Oracle Financial Services Software | 11.1% | 10.9% | Sep 2026 | 6.3% | 28.6% |
| Zensar Technologies | 8.8% | 19.2% | Sep 2026 | 10.7% | 4.4% |
| Intellect Design Arena | 22.7% | 2.6% | Jun 2026 | 18.9% | 8.7% |
Factors That Move Mid Cap IT Stocks to Buy
Four factors tend to drive mid cap IT stocks, and each one is worth checking before a purchase.
- Deal wins: Large contracts support future revenue.
- Dividends: Oracle Financial Services yields about 4%.
- Debt: All five carry very little debt.
- Valuation: P/E runs from about 15 to 41.
Risks to Keep in Mind Before Buying Mid Cap IT Stocks
The first risk is that IT earnings depend on technology spending in the US and Europe. The second is that a stronger rupee and wage costs can press margins. Check results every quarter.
On the numbers, Coforge trades at the highest P/E on this list at 41.36, so its earnings need to keep growing to support the price. Mid Cap IT stocks to buy can still fall when markets turn weak, and a staggered entry has historically suited investors better than a lump-sum purchase.
How to Choose Mid Cap IT Stocks to Buy
- Compare growth: Coforge grew FY26 profit most, by about 74%.
- Check P/E: Zensar Technologies trades lowest.
- Read ROE: Oracle Financial Services leads.
- Read the yield: Oracle Financial Services pays the most.
How to Invest in Mid Cap IT Stocks
- Shortlist two or three companies from this list that match your risk appetite.
- Open the Univest Screener and compare P/E, ROE and debt for each stock.
- Check the latest quarterly results and shareholding pattern on NSE or BSE.
- Decide an amount you can hold for three to five years and split it into two or three purchases.
- Review the holding after every quarterly result instead of reacting to daily price moves.
Conclusion
Zensar Technologies offers the lowest P/E on this list at 14.58, Oracle Financial Services Software has the highest return on equity at 46.42%, and Coforge posted the fastest net profit growth in its latest full year at 73.8%. Among the best mid cap IT stocks in India, these five give investors a spread of size, valuation and growth, so the right pick depends on risk appetite and holding period. Spread the entry, keep position sizes sensible and consult a SEBI-registered advisor before investing in any of these mid cap IT stocks to buy.
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).
Frequently Asked Questions on Mid Cap IT Stocks to Buy
Which are the best mid cap IT stocks to buy in November 2026?
Ans. The five mid cap IT stocks on the November 2026 watchlist are Coforge, Mphasis, Oracle Financial Services Software, Zensar Technologies and Intellect Design Arena. Zensar Technologies has the lowest P/E at 14.58, Oracle Financial Services Software has the highest ROE at 46.42%, and Coforge grew net profit 73.8% in its latest full year. This is educational content, not investment advice, so please consult a SEBI-registered advisor.
Is Oracle Financial Services Software a good stock to buy from this Mid Cap IT list?
Ans. Oracle Financial Services Software is the largest company on this list with a market capitalisation of Rs 86,964 crore and a P/E of 24.37 against an industry P/E of 18.92. Its FY26 revenue rose 11.1% and net profit rose 10.9%, with return on equity at 46.42%. Whether it suits you depends on your risk appetite and holding period, so please consult a SEBI-registered advisor before investing.
Are these mid cap IT stocks expensive right now?
Ans. Valuations vary across the group. Coforge trades at a P/E of 41.36, Mphasis trades at a P/E of 25.42, Oracle Financial Services Software trades at a P/E of 24.37, Zensar Technologies trades at a P/E of 14.58, Intellect Design Arena trades at a P/E of 23.76, against industry multiples ranging from 17.58 to 18.92. Higher multiples reflect faster growth but also leave less room for earnings misses, so entry price deserves attention.
Which of these mid cap IT stocks pay a dividend?
Ans. Dividend yields on this list are Coforge 0.61%, Mphasis 2.44%, Oracle Financial Services Software 4.00%, Zensar Technologies 3.00%, Intellect Design Arena 1.17%. Yields differ widely across the group, so check payout history and earnings cover before relying on any of them for income, since payouts can change with company profits.
Which stock on this list has the highest return on equity?
Ans. Oracle Financial Services Software has the highest ROE on this list at 46.42%, followed by Mphasis at 17.34% and Zensar Technologies at 16.41%. A higher ROE shows a company earns more profit on shareholder capital, but it should be read alongside valuation and debt.
What are the risks of investing in mid cap IT stocks?
Ans. The main risks are overseas technology spending, currency moves and wage costs. On this list, Coforge trades at the highest P/E of 41.36, which leaves less room for earnings disappointments. Staggered buying and a long holding period can help manage these risks.
How can I invest in mid cap IT stocks in India?
Ans. You can buy these stocks directly on NSE or BSE through a demat account, and compare them first on the Univest Screener using P/E, ROE and debt. Many investors split the amount across two or three purchases and review the holding after each quarterly result. Sector-themed mutual funds and ETFs are another route for investors who prefer diversification.