{"id":313000,"date":"2026-10-16T10:45:25","date_gmt":"2026-10-16T05:15:25","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=313000"},"modified":"2026-10-16T10:45:25","modified_gmt":"2026-10-16T05:15:25","slug":"it-stocks-to-watch-multibagger-potential","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/","title":{"rendered":"3 Top IT Stocks to Watch for Future Multibagger Potential: Tech Mahindra, Coforge and Mphasis"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Tech Mahindra Rs 1,712. Coforge Rs 1,942. Mphasis Rs 2,465.70. Market caps from Rs 46,878 crore to Rs 1.62 lakh crore. Data as of 16 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">Tech Mahindra, Coforge and Mphasis are the 3 picks in this IT stocks watchlist, with market caps between Rs 46,878 crore and Rs 1.62 lakh crore. Tech Mahindra stands out for the largest market cap at Rs 1,61,599 crore, while Coforge offers the fastest profit growth, 23.72% a year since FY22. PE ratios run from 24.54 to 44.59, so compare each one with its industry PE before investing. All figures are as of 16 October 2026.<\/p>\n<\/p><\/div>\n<p>IT stocks to watch for multibagger potential start with a simple filter: size, a clean financial record and earnings that keep growing. Tech Mahindra, Coforge and Mphasis meet that test, with market caps from Rs 46,878 crore to Rs 1.62 lakh crore and Tech Mahindra offering the largest market cap at Rs 1,61,599 crore. Global clients keep spending on cloud, data and AI projects, and mid-sized Indian IT firms win share by specialising in particular industries.<\/p>\n<p>This list covers listed Indian IT services companies with complete, verifiable financials, ranked by market capitalisation. Not every name here is a largecap, so the list takes the leading companies of the sector by market capitalisation. Investors screening IT stocks usually begin with size and balance sheet strength, and this list follows the same logic. All figures are as of 16 October 2026 and are drawn from NSE and BSE data and company filings.<\/p>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=it-stocks\"><strong>Click Here &#8211; Get Free Investment Predictions<\/strong><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#What_Are_IT_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\" title=\"What Are IT Stocks and Why Do They Attract Multibagger Interest?\">What Are IT Stocks and Why Do They Attract Multibagger Interest?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#IT_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\" title=\"IT Stocks at a Glance: Price, Market Cap, PE and ROE\">IT Stocks at a Glance: Price, Market Cap, PE and ROE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Tech_Mahindra_Debt-to-Equity_of_007\" title=\"Tech Mahindra: Debt-to-Equity of 0.07\">Tech Mahindra: Debt-to-Equity of 0.07<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Coforge_2372_Profit_CAGR_Since_FY22\" title=\"Coforge: 23.72% Profit CAGR Since FY22\">Coforge: 23.72% Profit CAGR Since FY22<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Mphasis_Profit_Compounding_at_681_a_Year\" title=\"Mphasis: Profit Compounding at 6.81% a Year\">Mphasis: Profit Compounding at 6.81% a Year<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#IT_Stocks_Financial_Comparison_on_Growth_and_Margins\" title=\"IT Stocks: Financial Comparison on Growth and Margins\">IT Stocks: Financial Comparison on Growth and Margins<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Institutional_Holding_in_Tech_Mahindra_Coforge_and_Mphasis\" title=\"Institutional Holding in Tech Mahindra, Coforge and Mphasis\">Institutional Holding in Tech Mahindra, Coforge and Mphasis<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Risks_to_Weigh_in_IT_Stocks\" title=\"Risks to Weigh in IT Stocks\">Risks to Weigh in IT Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#How_to_Choose_Between_IT_Stocks\" title=\"How to Choose Between IT Stocks\">How to Choose Between IT Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Frequently_Asked_Questions_on_IT_Stocks_to_Watch\" title=\"Frequently Asked Questions on IT Stocks to Watch\">Frequently Asked Questions on IT Stocks to Watch<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Which_are_the_best_IT_stocks_to_watch_for_multibagger_potential\" title=\"Which are the best IT stocks to watch for multibagger potential?\">Which are the best IT stocks to watch for multibagger potential?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Is_Mphasis_a_good_stock_for_long-term_investors\" title=\"Is Mphasis a good stock for long-term investors?\">Is Mphasis a good stock for long-term investors?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Can_Coforge_become_a_multibagger_from_here\" title=\"Can Coforge become a multibagger from here?\">Can Coforge become a multibagger from here?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#What_is_the_market_cap_of_Tech_Mahindra_Coforge_and_Mphasis\" title=\"What is the market cap of Tech Mahindra, Coforge and Mphasis?\">What is the market cap of Tech Mahindra, Coforge and Mphasis?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#What_are_the_risks_of_investing_in_IT_stocks\" title=\"What are the risks of investing in IT stocks?\">What are the risks of investing in IT stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#Why_is_Coforge_trading_at_a_PE_of_4459\" title=\"Why is Coforge trading at a PE of 44.59?\">Why is Coforge trading at a PE of 44.59?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/univest.in\/blogs-2\/it-stocks-to-watch-multibagger-potential\/#How_much_do_institutions_hold_in_Tech_Mahindra_Coforge_and_Mphasis\" title=\"How much do institutions hold in Tech Mahindra, Coforge and Mphasis?\">How much do institutions hold in Tech Mahindra, Coforge and Mphasis?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_IT_Stocks_and_Why_Do_They_Attract_Multibagger_Interest\"><\/span><strong>What Are IT Stocks and Why Do They Attract Multibagger Interest?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>IT stocks are listed companies that build, run and modernise software systems for clients abroad, mostly in banking, insurance, travel and telecom. Revenue is billed in foreign currency, which supports margins when the rupee is stable or weaker.<\/p>\n<p>Cloud migration, data engineering and AI programmes are creating multi-year demand for services. Companies with strong deal pipelines, industry focus and healthy margins are the ones investors compare in IT stocks.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"IT_Stocks_at_a_Glance_Price_Market_Cap_PE_and_ROE\"><\/span><strong>IT Stocks at a Glance: Price, Market Cap, PE and ROE<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Prices are as of 16 October 2026, mid-session. Mphasis combines the lowest PE of the group, 24.54, with the highest return on equity, 17.34%.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Industry PE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">ROE<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Debt to Equity<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">52-Week Range (Rs)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/techm\/tech-mahindra-ltd-share-price-today\">Tech Mahindra<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,712<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,61,599<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">31.30<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.49<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.24%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.07<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,304.10 to 1,854.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/coforge\/coforge-ltd-share-price-today\">Coforge<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,942<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">85,626<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">44.59<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.49<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16.31%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.08<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,008.10 to 2,021.20<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\"><a href=\"https:\/\/univest.in\/stocks\/mphasis\/mphasis-ltd-share-price-today\">Mphasis<\/a><\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,465.70<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">46,878<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.54<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.49<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.34%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">0.24<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">2,013.00 to 2,975.00<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Mahindra_Debt-to-Equity_of_007\"><\/span><strong>Tech Mahindra: Debt-to-Equity of 0.07<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Tech Mahindra, part of the Mahindra Group, provides IT and business services to telecom and other global clients. It reported FY26 revenue of Rs 56,847.30 crore, up 5.58% year on year, and net profit of Rs 4,805.50 crore, up 12.99%. Revenue has compounded at 5.57% a year since FY22. Operating margin was 15.47% in FY26. The debt-to-equity ratio is 0.07, which keeps interest costs low.<\/p>\n<p>In the September 2026 quarter, revenue rose 15.23% to Rs 16,172.80 crore and net profit grew 33.95% to Rs 1,609.70 crore. The share price is up 16.96% over the past year. Domestic institutions raised their holding from 32.13% in June 2025 to 36.92% in June 2026. The stock trades at a PE of 31.30 against an industry PE of 18.49, with a return on equity of 16.24%. The dividend yield is 3.09%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Coforge_2372_Profit_CAGR_Since_FY22\"><\/span><strong>Coforge: 23.72% Profit CAGR Since FY22<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Coforge is an IT services company serving clients in travel, banking, insurance and other industries. It reported FY26 revenue of Rs 16,475.90 crore, up 34.63% year on year, and net profit of Rs 1,674.50 crore, up 73.79%. Net profit has compounded at 23.72% a year since FY22, while revenue has grown 26.26% a year. Operating margin was 17.40% in FY26. The debt-to-equity ratio is 0.08, which keeps interest costs low.<\/p>\n<p>The stock trades at a PE of 44.59 against an industry PE of 18.49, with a return on equity of 16.31%. In the June 2026 quarter, revenue rose 49.19% to Rs 5,554.50 crore and net profit grew 49.19% to Rs 531.70 crore. The share price has gained 73.24% over five years and 10.25% over the past year.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Mphasis_Profit_Compounding_at_681_a_Year\"><\/span><strong>Mphasis: Profit Compounding at 6.81% a Year<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Mphasis provides IT, cloud and application services to banking, insurance and technology clients. It reported FY26 revenue of Rs 16,205.54 crore, up 11.88% year on year, and net profit of Rs 1,862.60 crore, up 9.43%. Net profit has compounded at 6.81% a year since FY22, while revenue has grown 7.53% a year. Operating margin was 20.58% in FY26. The debt-to-equity ratio is 0.24.<\/p>\n<p>In the June 2026 quarter, revenue rose 17.14% to Rs 4,466.91 crore and net profit grew 10.82% to Rs 489.51 crore. Domestic institutions raised their holding from 37.07% in September 2025 to 45.85% in September 2026. The stock trades at a PE of 24.54 against an industry PE of 18.49, with a return on equity of 17.34%. The dividend yield is 2.52%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"IT_Stocks_Financial_Comparison_on_Growth_and_Margins\"><\/span><strong>IT Stocks: Financial Comparison on Growth and Margins<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table compares scale and growth across these IT stocks. Latest quarter means the most recent reported quarter for each company, and only metrics that are positive for every company are shown.<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Revenue Growth (YoY)<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">4-Year Revenue CAGR<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Latest Quarter Revenue Growth<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Operating Margin (Latest Quarter)<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Tech Mahindra<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">56,847.30<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4,805.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5.58%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">5.57%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">15.23%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.74%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Coforge<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16,475.90<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,674.50<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.63%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">26.26%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">49.19%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.63%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Mphasis<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">16,205.54<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">1,862.60<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">11.88%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">7.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">17.14%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">20.04%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"margin-top:24px;\"><a href=\"https:\/\/univest.in\/screeners\"><strong>Check the Univest Screener for live data on these IT stocks<\/strong><\/a><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Institutional_Holding_in_Tech_Mahindra_Coforge_and_Mphasis\"><\/span><strong>Institutional Holding in Tech Mahindra, Coforge and Mphasis<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Institutional holding shows who is backing these IT stocks alongside the promoter. The table uses the latest reported quarter for each. Coforge has the deepest institutional backing, with FII and DII together holding 66.93% as of June 2026. Domestic institutions increased their holding over the past year in Tech Mahindra (from 32.13% to 36.92%) and Mphasis (from 37.07% to 45.85%).<\/p>\n<table style=\"border-collapse:collapse;width:100%;margin:16px 0;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Stock<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Promoter<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">FII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">DII<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Public<\/th>\n<th style=\"border:1px solid #BBBBBB;background:#1F4E79;color:#FFFFFF;padding:8px;text-align:left;\">Quarter<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Tech Mahindra<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">34.97%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">18.66%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">36.92%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">9.45%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Coforge<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Nil<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">24.31%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">42.62%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">33.07%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">June 2026<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">Mphasis<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">30.53%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">19.39%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">45.85%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">4.23%<\/td>\n<td style=\"border:1px solid #BBBBBB;padding:8px;\">September 2026<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Risks_to_Weigh_in_IT_Stocks\"><\/span><strong>Risks to Weigh in IT Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Being careful with IT stocks means looking at what can slow the story as well as what can speed it up. Four points matter most:<\/p>\n<ul>\n<li>Client technology budgets can slow in a weak global economy, which delays deal conversions.<\/li>\n<li>A stronger rupee can narrow reported growth because revenue is billed in dollars.<\/li>\n<li><strong>Valuation:<\/strong> Coforge trades at a PE of 44.59 against an industry PE of 18.49, so earnings need to keep growing to support the price.<\/li>\n<li><strong>Concentration:<\/strong> Holding all 3 names puts the allocation in one sector, so size each position to match your risk appetite.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Choose_Between_IT_Stocks\"><\/span><strong>How to Choose Between IT Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Picking from IT stocks comes down to four checks, applied in order.<\/p>\n<ol>\n<li>Check balance sheet strength first, and prefer a debt-to-equity ratio below 1 for non-financial companies.<\/li>\n<li>Compare each PE with the industry PE (18.49) and ask whether the growth rate justifies any gap.<\/li>\n<li>Track deal wins, revenue growth in constant currency and the operating margin in every quarterly result.<\/li>\n<li>Stagger entries across quarters and review institutional holding every reporting season.<\/li>\n<\/ol>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track Tech Mahindra, Coforge and Mphasis live prices.<\/em><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among IT stocks, Tech Mahindra stands out for the largest market cap at Rs 1,61,599 crore, Coforge for the fastest profit growth, 23.72% a year since FY22 and Mphasis for the highest return on equity at 17.34%. Which one suits a portfolio depends on how much valuation risk it can carry, so staggering entries and reviewing each quarterly result is a sound habit. Investors comparing IT stocks should rank them on growth, financial strength and the price paid, and anyone who wants personalised guidance can consult a SEBI-registered advisor before acting.<\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> 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).<\/p>\n<\/p><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_on_IT_Stocks_to_Watch\"><\/span><strong>Frequently Asked Questions on IT Stocks to Watch<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3><span class=\"ez-toc-section\" id=\"Which_are_the_best_IT_stocks_to_watch_for_multibagger_potential\"><\/span><strong>Which are the best IT stocks to watch for multibagger potential?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Tech Mahindra, Coforge and Mphasis are the 3 names this list highlights, with market caps of Rs 1,61,599 crore, Rs 85,626 crore and Rs 46,878 crore respectively. Tech Mahindra is notable for the largest market cap at Rs 1,61,599 crore. Coforge stands out for the fastest profit growth, 23.72% a year since FY22. Mphasis offers the highest return on equity at 17.34%. These are watchlist names for IT stocks, not recommendations, so match each one to your own risk profile and time horizon.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_Mphasis_a_good_stock_for_long-term_investors\"><\/span><strong>Is Mphasis a good stock for long-term investors?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Mphasis has a return on equity of 17.34%, a PE of 24.54 against an industry PE of 18.49 and a market cap of Rs 46,878 crore. Net profit has compounded at 6.81% a year since FY22, and FY26 revenue rose 11.88% while June 2026 quarter net profit grew 10.82%. Long-term returns in IT stocks depend on earnings growth and the price paid at entry, so staggering purchases and consulting a SEBI-registered advisor is sensible.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Can_Coforge_become_a_multibagger_from_here\"><\/span><strong>Can Coforge become a multibagger from here?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Coforge has already gained 73.24% in five years, so another multi-fold move would need sustained earnings growth. A multibagger outcome in IT stocks requires earnings to keep growing faster than the market for several years. Net profit has compounded at 23.72% a year since FY22, and FY26 revenue rose 34.63%. At a PE of 44.59 against an industry PE of 18.49, valuation should be checked against that growth before investing.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_is_the_market_cap_of_Tech_Mahindra_Coforge_and_Mphasis\"><\/span><strong>What is the market cap of Tech Mahindra, Coforge and Mphasis?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of 16 October 2026, Tech Mahindra has a market cap of Rs 1,61,599 crore, Coforge has a market cap of Rs 85,626 crore and Mphasis has a market cap of Rs 46,878 crore. Tech Mahindra is the largest of the group. Market cap changes daily with the share price, so check the latest figure on the Univest Screener or on NSE before taking a decision on IT stocks.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_are_the_risks_of_investing_in_IT_stocks\"><\/span><strong>What are the risks of investing in IT stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> The main risks are client budgets, currency moves and valuation. Spending can pause when the global economy slows, and large deals take time to ramp. Companies with diverse clients and strong cash flows are better cushioned. Coforge trades at a PE of 44.59 against an industry PE of 18.49, so earnings growth needs to hold up.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_is_Coforge_trading_at_a_PE_of_4459\"><\/span><strong>Why is Coforge trading at a PE of 44.59?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Coforge&#8217;s PE of 44.59 compares with an industry PE of 18.49. The market is paying a premium for a return on equity of 16.31%, profit growth of 23.72% a year since FY22 and latest-quarter profit growth of 49.19%, which also means the stock is more sensitive if growth slows. Investors in IT stocks who are comfortable with higher valuation risk may prefer to stagger purchases instead of investing in one go.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_much_do_institutions_hold_in_Tech_Mahindra_Coforge_and_Mphasis\"><\/span><strong>How much do institutions hold in Tech Mahindra, Coforge and Mphasis?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> As of the latest reported quarter, FII and DII together hold 55.58% of Tech Mahindra (18.66% and 36.92%), 66.93% of Coforge (24.31% and 42.62%) and 65.24% of Mphasis (19.39% and 45.85%). Rising institutional holding is a useful signal in IT stocks, though it should be read with earnings trends rather than on its own.<\/p>\n<p><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"Which are the best IT stocks to watch for multibagger potential?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Tech Mahindra, Coforge and Mphasis are the 3 names this list highlights, with market caps of Rs 1,61,599 crore, Rs 85,626 crore and Rs 46,878 crore respectively. Tech Mahindra is notable for the largest market cap at Rs 1,61,599 crore. Coforge stands out for the fastest profit growth, 23.72% a year since FY22. Mphasis offers the highest return on equity at 17.34%. 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