{"id":330539,"date":"2026-10-28T13:05:01","date_gmt":"2026-10-28T07:35:01","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=330539"},"modified":"2026-10-28T13:05:01","modified_gmt":"2026-10-28T07:35:01","slug":"analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/","title":{"rendered":"3 Analytics Operations Specialist, Digital Product Builder and Telecom Technology Group Stocks With a Strong Future Roadmap: eClerx Services, Happiest Minds Technologies and Tech Mahindra"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E80;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>eClerx Services, Happiest Minds Technologies and Tech Mahindra: ROE of 12.6% to 27.6% and FY22 to FY26 revenue CAGR of 5.6% to 20.7%. Prices as of 27 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:#1F4E80;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three data operations, digital and IT services stocks to watch are eClerx Services, Happiest Minds Technologies and Tech Mahindra. Their return on equity ranges from 12.6% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 20.7%. eClerx Services has the highest return on equity at 27.6%, while Happiest Minds Technologies has the fastest revenue growth at 20.7% a year. Prices are based on the 27 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Data operations, digital and IT services stocks bring together companies with a visible plan for the years ahead. eClerx Services, Happiest Minds Technologies and Tech Mahindra cover a data and operations services firm, a digital business services company and a global IT services provider.<\/p>\n<p>This list covers three data operations, digital and IT services stocks with complete current figures: eClerx Services, Happiest Minds Technologies and Tech Mahindra. Every figure comes from the latest reported financials and the 27 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#What_Are_Data_Operations_Digital_and_IT_Services_Stocks\" title=\"What Are Data Operations, Digital and IT Services Stocks?\">What Are Data Operations, Digital and IT Services Stocks?<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Data_Operations_Digital_and_IT_Services_Stocks_at_a_Glance\" title=\"Data Operations, Digital and IT Services Stocks at a Glance\">Data Operations, Digital and IT Services Stocks at a Glance<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Why_Do_Data_Operations_Digital_and_IT_Services_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Data Operations, Digital and IT Services Stocks Have a Strong Roadmap in India?\">Why Do Data Operations, Digital and IT Services Stocks Have a Strong Roadmap in India?<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Why_eClerx_Services_Features_Among_These_Data_Operations_Digital_and_IT_Services_Stocks\" title=\"Why eClerx Services Features Among These Data Operations, Digital and IT Services Stocks\">Why eClerx Services Features Among These Data Operations, Digital and IT Services Stocks<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Why_Happiest_Minds_Technologies_Features_Among_These_Data_Operations_Digital_and_IT_Services_Stocks\" title=\"Why Happiest Minds Technologies Features Among These Data Operations, Digital and IT Services Stocks\">Why Happiest Minds Technologies Features Among These Data Operations, Digital and IT Services Stocks<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Why_Tech_Mahindra_Features_Among_These_Data_Operations_Digital_and_IT_Services_Stocks\" title=\"Why Tech Mahindra Features Among These Data Operations, Digital and IT Services Stocks\">Why Tech Mahindra Features Among These Data Operations, Digital and IT Services Stocks<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#eClerx_Services_vs_Happiest_Minds_Technologies_vs_Tech_Mahindra_on_Key_Financials\" title=\"eClerx Services vs Happiest Minds Technologies vs Tech Mahindra on Key Financials\">eClerx Services vs Happiest Minds Technologies vs Tech Mahindra on Key Financials<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Key_Risks_to_Check_Before_Investing_in_Data_Operations_Digital_and_IT_Services_Stocks\" title=\"Key Risks to Check Before Investing in Data Operations, Digital and IT Services Stocks\">Key Risks to Check Before Investing in Data Operations, Digital and IT Services 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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Final_Thoughts_on_Data_Operations_Digital_and_IT_Services_Stocks\" title=\"Final Thoughts on Data Operations, Digital and IT Services Stocks\">Final Thoughts on Data Operations, Digital and IT Services Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#What_are_data_operations_digital_and_IT_services_stocks\" title=\"What are data operations, digital and IT services stocks?\">What are data operations, digital and IT services stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Which_data_operations_digital_and_IT_services_stocks_are_covered_in_this_list\" title=\"Which data operations, digital and IT services stocks are covered in this list?\">Which data operations, digital and IT services stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Why_do_data_operations_digital_and_IT_services_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do data operations, digital and IT services stocks have a strong future roadmap in India?\">Why do data operations, digital and IT services stocks have a strong future roadmap in India?<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#How_has_eClerx_Services_performed_financially\" title=\"How has eClerx Services performed financially?\">How has eClerx Services performed financially?<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#How_has_Happiest_Minds_Technologies_performed_financially\" title=\"How has Happiest Minds Technologies performed financially?\">How has Happiest Minds Technologies performed financially?<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#How_has_Tech_Mahindra_performed_financially\" title=\"How has Tech Mahindra performed financially?\">How has Tech Mahindra performed financially?<\/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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#What_risks_should_investors_check_before_buying_data_operations_digital_and_IT_services_stocks\" title=\"What risks should investors check before buying data operations, digital and IT services stocks?\">What risks should investors check before buying data operations, digital and IT services 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\/analytics-operations-specialist-digital-product-builder-and-telecom-technology-group-stocks-roadmap-zephyr-list\/#Is_this_list_of_data_operations_digital_and_IT_services_stocks_investment_advice\" title=\"Is this list of data operations, digital and IT services stocks investment advice?\">Is this list of data operations, digital and IT services stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Data_Operations_Digital_and_IT_Services_Stocks\"><\/span><strong>What Are Data Operations, Digital and IT Services Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data operations, digital and IT services stocks are listed technology and services companies that provide data, analytics and operations services, digital business and product engineering, and telecom and enterprise technology to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Data_Operations_Digital_and_IT_Services_Stocks_at_a_Glance\"><\/span><strong>Data Operations, Digital and IT Services Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE (%)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/eclerx\/eclerx-services-ltd-share-price-today\">eClerx Services<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,896.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18,062<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">24.8<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">27.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.15<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/happstmnds\/happiest-minds-technologies-ltd-share-price-today\">Happiest Minds Technologies<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">310.25<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,680<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">21.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.88<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/techm\/tech-mahindra-ltd-share-price-today\">Tech Mahindra<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,811.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">175,398<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">31.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">18.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.07<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>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, digital and IT services stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Data_Operations_Digital_and_IT_Services_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Data Operations, Digital and IT Services Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data operations, digital and IT services stocks have a strong roadmap in India because outsourced data operations, digital transformation projects and telecom network upgrades keep widening the market for Indian services firms.<\/p>\n<ul>\n<li><strong>Data operations.<\/strong> Clients outsource analytics and support.<\/li>\n<li><strong>Digital business.<\/strong> Enterprises rebuild customer journeys online.<\/li>\n<li><strong>Network upgrades.<\/strong> Telecom firms modernise their platforms.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_eClerx_Services_Features_Among_These_Data_Operations_Digital_and_IT_Services_Stocks\"><\/span><strong>Why eClerx Services Features Among These Data Operations, Digital and IT Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the data operations, digital and IT services stocks on this list, eClerx Services, based in Mumbai, offers data analytics, digital operations and process services to financial services, retail and technology clients.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p><strong>Roadmap:<\/strong> 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.<\/p>\n<p><strong>What to watch:<\/strong> Monitor client additions and growth in digital offerings.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Happiest_Minds_Technologies_Features_Among_These_Data_Operations_Digital_and_IT_Services_Stocks\"><\/span><strong>Why Happiest Minds Technologies Features Among These Data Operations, Digital and IT Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the analytics operations, digital business and IT services shares on this list, Happiest Minds Technologies is a Bengaluru-based digital transformation company that offers product engineering, digital business services and generative artificial intelligence solutions to clients across industries.<\/p>\n<p>Revenue rose from Rs 1,131 crore in FY22 to Rs 2,400 crore in FY26, a compound annual growth rate of 20.7%. Net profit grew from Rs 185 crore in FY25 to Rs 213 crore in FY26, a rise of 15.1%.<\/p>\n<p>In the June 2026 quarter, revenue grew 12.5% year on year to Rs 652 crore, while net profit rose 18.3% to Rs 67.6 crore. The company has a return on equity of 12.6%, a debt to equity ratio of 0.88 and a market capitalisation of Rs 4,680 crore. The stock trades at a P\/E of 21.0, above the industry P\/E of 17.9.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding capabilities in artificial intelligence, cloud and cybersecurity, which enterprises are prioritising. A digital-first positioning helps it win newer projects from established clients.<\/p>\n<p><strong>What to watch:<\/strong> Track the mix of digital business and product engineering revenue and new client additions.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Tech_Mahindra_Features_Among_These_Data_Operations_Digital_and_IT_Services_Stocks\"><\/span><strong>Why Tech Mahindra Features Among These Data Operations, Digital and IT Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Tech Mahindra is a Mahindra Group technology services company that provides digital, network and enterprise services to clients in telecom, manufacturing, banking and other industries worldwide.<\/p>\n<p>Revenue rose from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%.<\/p>\n<p>The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P\/E of 31.5, above the industry P\/E of 17.6.<\/p>\n<p><strong>Roadmap:<\/strong> The company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.<\/p>\n<p><strong>What to watch:<\/strong> Track large deal wins, margin improvement and demand from telecom and enterprise clients.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"eClerx_Services_vs_Happiest_Minds_Technologies_vs_Tech_Mahindra_on_Key_Financials\"><\/span><strong>eClerx Services vs Happiest Minds Technologies vs Tech Mahindra on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three data operations, digital and IT services stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">eClerx Services<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,185<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,218<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.9%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">706<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Happiest Minds Technologies<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,131<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,400<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.7%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">213<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Tech Mahindra<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45,758<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">56,847<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.6%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,806<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">8.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>eClerx Services posts the highest return on equity in this group at 27.6%. Tech Mahindra has the largest FY26 revenue at Rs 56,847 crore, and Happiest Minds Technologies shows the fastest revenue growth with a 20.7% compound annual rate. A useful habit with data operations, digital and IT services stocks is to check each new quarterly result against the capacity plans the company described earlier.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Data_Operations_Digital_and_IT_Services_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Data Operations, Digital and IT Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these data operations, digital and IT services stocks, the main points are: Long-term analytics operations, digital business and IT services shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.<\/p>\n<ul>\n<li><strong>Deal timing.<\/strong> Large contracts can shift between periods.<\/li>\n<li><strong>Client budgets.<\/strong> Spending can vary with global conditions.<\/li>\n<li><strong>Currency moves.<\/strong> Export earnings move with the rupee.<\/li>\n<\/ul>\n<p>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.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter data operations, digital and IT services stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Data_Operations_Digital_and_IT_Services_Stocks\"><\/span><strong>Final Thoughts on Data Operations, Digital and IT Services Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Data operations, digital and IT services stocks suit investors who prefer to study business strength before price moves. eClerx Services, Happiest Minds Technologies and Tech Mahindra each have a clear plan to grow. Based on the 27 October 2026 close, eClerx Services trades at Rs 1,896.7, Happiest Minds Technologies at Rs 310.25 and Tech Mahindra at Rs 1,811.4.<\/p>\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 data operations, digital and IT services stocks, set price alerts and get research-backed stock ideas.<\/em><\/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<\/div>\n<h3><span class=\"ez-toc-section\" id=\"What_are_data_operations_digital_and_IT_services_stocks\"><\/span><strong>What are data operations, digital and IT services stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Data operations, digital and IT services stocks are listed technology and services companies that provide data, analytics and operations services, digital business and product engineering, and telecom and enterprise technology to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, eClerx Services, Happiest Minds Technologies and Tech Mahindra, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_data_operations_digital_and_IT_services_stocks_are_covered_in_this_list\"><\/span><strong>Which data operations, digital and IT services stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers eClerx Services, Happiest Minds Technologies and Tech Mahindra. Based on the 27 October 2026 close, eClerx Services traded at Rs 1,896.7, Happiest Minds Technologies at Rs 310.25 and Tech Mahindra at Rs 1,811.4. Their return on equity ranges from 12.6% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 20.7%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_data_operations_digital_and_IT_services_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do data operations, digital and IT services stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Data operations, digital and IT services stocks have a strong roadmap in India because outsourced data operations, digital transformation projects and telecom network upgrades keep widening the market for Indian services firms. The main drivers are as follows. Data operations. Clients outsource analytics and support. Digital business. Enterprises rebuild customer journeys online. Network upgrades. Telecom firms modernise their platforms. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_eClerx_Services_performed_financially\"><\/span><strong>How has eClerx Services performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Happiest_Minds_Technologies_performed_financially\"><\/span><strong>How has Happiest Minds Technologies performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 1,131 crore in FY22 to Rs 2,400 crore in FY26, a compound annual growth rate of 20.7%. Net profit grew from Rs 185 crore in FY25 to Rs 213 crore in FY26, a rise of 15.1%. In the June 2026 quarter, revenue grew 12.5% year on year to Rs 652 crore, while net profit rose 18.3% to Rs 67.6 crore. The company has a return on equity of 12.6%, a debt to equity ratio of 0.88 and a market capitalisation of Rs 4,680 crore. The stock trades at a P\/E of 21.0, above the industry P\/E of 17.9. Looking ahead, the company is adding capabilities in artificial intelligence, cloud and cybersecurity, which enterprises are prioritising. A digital-first positioning helps it win newer projects from established clients.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Tech_Mahindra_performed_financially\"><\/span><strong>How has Tech Mahindra performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 45,758 crore in FY22 to Rs 56,847 crore in FY26, a compound annual growth rate of 5.6%. Net profit grew from Rs 2,397 crore in FY24 to Rs 4,806 crore in FY26, which works out to a compound annual growth rate of 41.6%. The company has a return on equity of 18.6%, a debt to equity ratio of 0.07 and a market capitalisation of Rs 175,398 crore. The stock trades at a P\/E of 31.5, above the industry P\/E of 17.6. Looking ahead, the company is investing in artificial intelligence, cloud and 5G related services and deepening ties with large clients. Large deal wins in telecom and enterprise work support its pipeline.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_data_operations_digital_and_IT_services_stocks\"><\/span><strong>What risks should investors check before buying data operations, digital and IT services stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying data operations, digital and IT services 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.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_data_operations_digital_and_IT_services_stocks_investment_advice\"><\/span><strong>Is this list of data operations, digital and IT services stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> 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.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are data operations, digital and IT services stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Data operations, digital and IT services stocks are listed technology and services companies that provide data, analytics and operations services, digital business and product engineering, and telecom and enterprise technology to global clients. Their earnings depend on client budgets, deal wins, utilisation and currency. This list looks at three of them, eClerx Services, Happiest Minds Technologies and Tech Mahindra, using reported FY22 to FY26 financials and the 27 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which data operations, digital and IT services stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers eClerx Services, Happiest Minds Technologies and Tech Mahindra. Based on the 27 October 2026 close, eClerx Services traded at Rs 1,896.7, Happiest Minds Technologies at Rs 310.25 and Tech Mahindra at Rs 1,811.4. Their return on equity ranges from 12.6% to 27.6%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.6% to 20.7%.\"}},{\"@type\":\"Question\",\"name\":\"Why do data operations, digital and IT services stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Data operations, digital and IT services stocks have a strong roadmap in India because outsourced data operations, digital transformation projects and telecom network upgrades keep widening the market for Indian services firms. The main drivers are as follows. Data operations. Clients outsource analytics and support. Digital business. Enterprises rebuild customer journeys online. Network upgrades. Telecom firms modernise their platforms. 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A balance sheet with little debt and high returns on capital gives it flexibility to invest and return cash.\"}},{\"@type\":\"Question\",\"name\":\"How has Happiest Minds Technologies performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 1,131 crore in FY22 to Rs 2,400 crore in FY26, a compound annual growth rate of 20.7%. Net profit grew from Rs 185 crore in FY25 to Rs 213 crore in FY26, a rise of 15.1%. In the June 2026 quarter, revenue grew 12.5% year on year to Rs 652 crore, while net profit rose 18.3% to Rs 67.6 crore. The company has a return on equity of 12.6%, a debt to equity ratio of 0.88 and a market capitalisation of Rs 4,680 crore. The stock trades at a P\/E of 21.0, above the industry P\/E of 17.9. Looking ahead, the company is adding capabilities in artificial intelligence, cloud and cybersecurity, which enterprises are prioritising. 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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.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Data Operations, Digital and IT Services Stocks with a strong future roadmap: eClerx Services, Happiest Minds Technologies and Tech Mahindra. 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