Nifty MidSmall IT & Telecom PE Ratio
Valuation Percentile
Nifty MidSmall IT & Telecom's PB is cheaper than 100% of the last 3 years.
Not enough history for a 5Y percentile, showing 3Y instead.
The Nifty MidSmall IT & Telecom PE ratio is 29.00 as of 1 October 2026, about 58% below its 3-year median of 69.54, which places it in significantly undervalued territory on a historical basis.
PE Ratio vs Historical Medians
| Period | Median PE | Current vs Median |
|---|---|---|
| 3 Years | 69.54 | -58.30% |
| 1 Year | 58.06 | -50.06% |
Historical PE Ratio
Data gap. P/E is unavailable from 31 May 2024 to 27 Sept 2024 because the index’s aggregate earnings were negative, so no ratio could be published. The line bridges those dates, and medians and forward returns skip them.
Series start. P/E is published from 17 Feb 2023. Index values go back to 1 Apr 2005.
Earnings
Index earnings are the profits behind the index level: the closing value divided by the P/E ratio, in index points. The line moves in steps because it changes only when trailing four-quarter profits are updated or the constituents change. Compare it with price to see whether a move came from earnings or from a change in what investors pay for them.
Nifty MidSmall IT & Telecom earnings grew +71.51% a year over the last 3 years, while the index moved +5.21% a year and its P/E went from 126.0 to 29.0.
Earnings growth is annualised from the last trading day at or before the start of each window to 1 Oct 2026. Price growth uses the index level over the same two dates, excluding dividends. EPS is undefined on days with no published P/E, so those days are skipped. Past growth, not a forecast.
Ways to invest in Nifty MidSmall IT & Telecom
0 ETFs and 1 index fund track this index. Prices and NAVs as of 1 Oct 2026.
Index funds (1)
| Fund | AMC | NAV | Since |
|---|---|---|---|
| Motilal Oswal Nifty MidSmall IT and Telecom Index Fund | Motilal Oswal Asset Management Company Limited | 9.251 Oct 2026 | 2024 |
Listed for information only, not a recommendation. Check expense ratio and tracking difference before investing.
Performance and risk
1-year holding windows since 2022 returned a median of +6.22% (best +75.78%, worst -19.11%).
View full performance and risk
Returns as of September 2026, from the NSE factsheet for the Nifty MidSmall IT & Telecom. 1-year returns are absolute; 5-year returns are annualized.
Stocks in the Nifty MidSmall IT & Telecom
The Nifty MidSmall IT & Telecom contains 20 constituents. Its largest sectors by number of companies are Information Technology (16) and Telecommunication (4).
Recent changes
4 October 2026: Added Inventurus Knowledge Solutions Ltd., Netweb Technologies India Ltd.. Removed Sonata Software Ltd., Vodafone Idea Ltd..
Constituent list as of 4 October 2026, sourced from NSE Indices. Weights as of 30 September 2026, from the NSE factsheet.
How this index works
- Universe
- To form part of Nifty MidSmall Sector Indices, stocks should qualify the following eligibility criteria: Eligible Universe: • Stocks forming part / going to be a part the Nifty MidSmallcap 400 index at the time of review subject to the following: o Non - F&O stocks within Nifty MidSmallcap 400 are
- Selection
- The CPSEs selected meet below mentioned parameters: 1. Included in the list of CPSEs published by the Department of Public Enterprise 2. Listed at National Stock Exchange of India Ltd. (NSE) 3. Having more than 51% government holding (stake via Govt.
- Rebalanced
- Quarterly
- Weight cap
- Stock weights shall be capped at 33% each and the aggregate weight of top 3 stocks shall be capped at 62% at the time of index rebalancing.
- Constituents
- 6
Summarised from NSE's official methodology document (PDF) for the Nifty MidSmall IT & Telecom; the PDF is authoritative.
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Frequently Asked Questions
What is the current Nifty MidSmall IT & Telecom PE ratio?
As of 1 October 2026, the Nifty MidSmall IT & Telecom PE ratio is 29.00. That is about 58% below its 3-year median of 69.54 and about 50% below its 1-year median of 58.06.
Is the Nifty MidSmall IT & Telecom undervalued right now?
On a historical basis it screens as significantly undervalued. Its current PE of 29.00 sits below every median window: 1-year (58.06) and 3-year (69.54).
What is a normal PE ratio for the Nifty MidSmall IT & Telecom?
Over the past three years its median PE has been 69.54, and over the past one year 58.06. Today's 29.00 is toward the lower end of that historical range.
How many stocks are in the Nifty MidSmall IT & Telecom?
The Nifty MidSmall IT & Telecom contains 20 stocks. By number of companies, its largest sectors are Information Technology (16 stocks) and Telecommunication (4 stocks).
What returns has the Nifty MidSmall IT & Telecom delivered?
As of September 2026, the Nifty MidSmall IT & Telecom total return (with dividends reinvested) is +3.61% over the past year and +6.86% annualized over the past five years. One-year figures are absolute; multi-year figures are annualized (CAGR). Data from the NSE factsheet.
How volatile is the Nifty MidSmall IT & Telecom?
Over the year to September 2026, the Nifty MidSmall IT & Telecom had an annualized volatility (standard deviation of daily returns) of 19.96%. Its beta versus the Nifty 50 is 0.93, meaning it has moved less than the broad market.
What is a typical one-year return for the Nifty MidSmall IT & Telecom?
Across every one-year holding window since 2022, the Nifty MidSmall IT & Telecom total return has a median of +6.22%, with the best window at +75.78% and the worst at -19.11%. Based on NSE Total Returns Index data; a past distribution, not a prediction.
How fast have Nifty MidSmall IT & Telecom earnings grown?
Nifty MidSmall IT & Telecom earnings, measured as the index level divided by its P/E, grew +71.51% a year over the last 3 years, while the index itself moved +5.21% a year and its P/E fell from 126.00 to 29.00. Past growth, not a forecast.
How often is the Nifty MidSmall IT & Telecom rebalanced?
The Nifty MidSmall IT & Telecom is rebalanced quarterly. Details are in the official NSE methodology document.
Last updated: 1 October 2026.