Nifty IT gains up to 3% as Accenture ups FY25 revenue growth guidance; Infosys, TCS, Wipro lead gains
IT stocks continued to be in the limelight in Friday's session as Accenture posted its Q4 earnings.
IT stocks in Friday's trade are in focus as Accenture widely considered as a benchmark for the Indian IT came up with its results on the previous day. The earnings by Accenture provide an insight on the likely results of the Indian IT companies. Accenture follows September-August as the financial year.
Accenture Q4 results
The Ireland-based company came up with largely in-line Q4 results.
Improves revenue growth guidance for FY25
The company for the FY25 has given a revenue growth guidance of 3-6 per cent. The same for the previous FY came in at 1.5-2.5 per cent.
Improves revenue growth guidance for FY25
As against the revenue growth guidance of 1.5-2.5 per cent for FY24, the company has improved its revenue growth outlook to 3-6 per cent.
Indian IT companies will kick off Q2 results
The earnings season will be kickstarted by Infosys as it is scheduled to report its Q2 numbers on October 17.
Macros same hence environment a cautious one
From the analysts call of Accenture it has come to light as the macros remain same the environment continues to be cautious, nontheless there is a big scope for digitisation. "We expect the US to be a bit slow and Europe to do better,” said Julie Sweet, chair and chief executive officer of Accenture to analysts.
AI orders one boost
The increase in revenue growth guidance by Accenture was done amid improving macros and rate cut in the US which is seen to bode well for the space. Also, AI order has been upbeat which has led to the boosted sentiment in the sector.
IT companies Q2FY25 earnings calendar
Dates Companies
14 Oct HCL Tech
16 Oct Mphasis
17 Oct Infosys
22 Oct Coforge
22 Oct Persistent Systems