TCS, Infosys and other IT stocks in focus after Accenture Q4 revenue, outlook beat estimates
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Shares of TCS, Infosys, and other Indian IT firms are in focus this Monday after Accenture beat revenue estimates.
- ✓Accenture expects annual growth of 3-6 percent, easing worries about global demand.
- ✓Nuvama said, "Accenture's results, commentary and guidance are slightly positive for Indian IT." This news brought some hope.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
Shares of Infosys, TCS, Wipro, Tech Mahindra, HCLTech and other Indian IT companies are likely to remain in focus on Monday after Accenture forecast full-year revenue growth above Street expectations, easing some concerns over weakness in demand across the global technology services sector.
Last week, Infosys ADRs gained about 8%, while Wipro ADRs rose 3%, tracking the positive reaction to Accenture's results and guidance.
The consulting major said it expects annual revenue growth of 3-6%, ahead of analyst estimates. The Dublin-based company reported fourth-quarter revenue of $18.68 billion, compared with analysts' estimate of $18.03 billion. Its outlook pointed to steady demand across consulting and managed services, while AI-related work also supported sentiment at a time when investors were concerned about slower discretionary technology spending.
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The Economic Times
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