ACCENTURE IT STOCKS
Ajay Bagga on where to look for next market trigger and pockets to avoid now
Ajay Bagga says railways and defence sectors have already run up much and multi-year order books have been factored in. Now it is the execution challenge. So, have the investors already eaten the pie for railways and defence? Not fully, but right now there might be one more move up like we saw in railway stocks today.
Market Moves: Ashi Anand’s take on Indian IT and auto sectors
Ashi Anand, Founder and CEO of IME Capital, provides an in-depth analysis of the Indian IT and auto sectors. Anand highlighted the persistent strength in deal wins across IT companies despite weaker-than-expected revenue growth, attributing this to reduced discretionary spending.
Zepto’s mega fundraise; Oyo funding gets shareholder nod
Quick commerce company Zepto has raised $665 million from new and existing investors. This and more on today’s ETtech Top 5.
Sensex, Nifty hit brakes on record run; Nifty IT defies market mood
Indian equity indices, influenced by global trends, closed lower on Friday. The Sensex fell 269 points to 77,209, and the Nifty dropped 66 points to 23,501, impacted by Reliance Industries, L&T, and HDFC Bank.
IT stocks rally up to 4% as an early indicator of Q1 earnings just gave green signals
Indian IT stocks surged following positive results from Accenture, with Persistent Systems leading the gains. Analysts expect a strong demand environment to drive healthy earnings growth.
How will Indian IT companies perform going ahead? Sandip Agarwal answers
I think we are maybe one or two quarter away from it flowing down to even outsourcing. But because markets are forward looking, you can see a big run up even in the Indian IT services much before the actual numbers come.
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Tech heavyweights drive Sensex over 150 points higher, Nifty above 23,600
Indian benchmark equity indices opened higher led by information technology stocks after U.S. IT firm Accenture forecasted annual revenue growth above expectations.
Unpacking K Krithivasan's first year as TCS CEO
TCS CEO K Krithivasan completed a year in office this month. His term was marked by an unprecedented slowdown in tech demand. The veteran, however, has brought growth and stability for the bellwether. Under his leadership, TCS reached $29.1 billion in annual revenues in the year ending this March, growing at 4.1%.
More women made the list of top-paid CEOs in 2023, but their numbers are still small compared to men
Of the 341 CEOs in the AP's 2024 compensation survey, 25 are women, the highest number since the survey began in 2011. Lisa Su of AMD is the highest-paid female CEO, earning $30.3 million. The median pay for female CEOs increased by 21% to $17.6 million, outpacing male CEOs whose median pay rose by 12% to $16.3 million. Despite these gains, the highest-paid male CEOs still earn significantly more, and women often face the "glass cliff," being appointed to leadership roles during company crises.
AI-led tech craze leaves mega Indian software stocks in the dust
Unlike counterparts in the developed world and China, Indian software makers including leader Tata Consultancy Services have yet to make significant advances in generative AI. That combined with a still cloudy outlook for client spending may soon leave them looking like the tech bets of yesterday.
IT stocks' valuation palatable, says Kotak Equities. Check top 4 picks
Infosys, TCS and HCL Tech remain top picks of brokerage firm Kotak Institutional Equities followed by Cyient in the mid-tier segment amid an extended outlook for weak demand and macro uncertainty in the IT sector.
Tech-betting mutual fund investors lose over 4% in March. Will April be different?
Technology funds, including Aditya Birla Sun Life Digital India Fund, saw a decline of around 3.96%. Will April bring a change in fortunes for these investors?
Accenture's revenue outlook cut sends IT stocks crashing
Investors reduced IT shares post Accenture's lowered revenue guidance, impacting Nifty IT, TCS, Infosys, Cyient, Mastek, LatentView, LTI Mindtree, Wipro, HCL Technologies. Cautious sentiment lingers with modest prospects till 2024.
Unicorn hiring trends; smartphone makers to gain further ground
The ongoing funding winter and concerns over profitability have not deterred homegrown unicorns from onboarding top talent. This and more in today’s ETtech Top 5.
Sensex rises for 3rd day, ends 191 pts higher despite Accenture worries; Nifty above 22,050
Benchmark indices rose despite Accenture's warning. Sensex increased by 191 points to 72,832, Nifty by 85 points to 22,097. BSE market cap surged by Rs 2.28 lakh crore. Sun Pharma, Maruti Suzuki, IndusInd Bank, and Titan led gains.
Infosys block deal: Over 49 lakh shares change hands; stock falls 3.6%
A sector laggard, Infosys has given returns of nearly 9% over a year at a time when the Nifty IT index delivered over 25% returns. Its performance is even worse in comparison to broader Nifty's gains of 28% in the same period.
IT stocks tumbling on Accenture guidance cut: Time to accumulate, says Sandip Agarwal
Sandip Agarwal says for Accenture, the challenge is on the discretionary side or on the consulting side, where we have small presence for some of the names like TCS and Infosys but for them, it is not a big chunk like it is for Accenture. He advises investing in undervalued stocks like HPL, Tech M, and Wipro for long-term gains despite depressed earnings.
HCL Tech, TCS, Infosys, other IT stocks drop up to 5%. Blame it on Accenture
IT giants' shares drop as Accenture reduces FY24 revenue forecast, impacting Nifty IT index. Global peer's muted guidance affects market view. Analysts expect varied performance in FY25. Despite challenges, positive outlook for Indian IT sector growth prevails.
ADRs of Wipro, Infosys slump as Accenture cuts guidance on clouded outlook
The IT industry has been grappling with sluggish demand for software and consulting services as high interest rates discouraged enterprises from discretionary spending.
Nifty IT looks poised to breach 2022 peak: Anand James
Anand James says: "Throughout the most part of 2022 as well as 2023, the sector had been going through a period of correction as well as consolidation, before starting the reversal moves late 2023. A pause in the last few days augurs well for the trend to breach the 2022’s peak on the Nifty IT index."
IT stocks rally looks premature after Accenture's underwhelming guidance. Should you sell?
Accenture reiterated its headline FY24 revenue growth guidance of 2-5% YoYcc but increased the inorganic contribution to more than 2% vs 2% earlier, which implies that FY24 organic growth guidance has been trimmed slightly. Management indicated no change in the demand environment – persistent weakness in BFS, CMT, and discretionary spends.
IIT-Roorkee sees 802 job offers in first 15 days of final placements
Accenture Japan, American Express, Axis Bank, Axtria India, Bajaj Auto & Chetak Technology, Bharat Petroleum Corporation, Cisco, EXL Service, Futures First, Google, ICICI Bank, Jaguar Land Rover India, JP Morgan & Chase, Merilytics, Microsoft, Navi, Oracle India., Qualcomm India, Reliance Industries, Sprinklr, Texas Instruments and Zepto were among the companies that participated in the placements drive, according to the statement issued by IIT-R.
FII flows, 11 IPOs, Accenture results among 8 factors likely to influence D-Street this week
Strong gains in global markets after the US Federal Reserve guided for a cut in interest rates in 2024, aided the domestic markets as well and drove indices to record highs.
Accenture earnings harbinger of bad news for 3 Indian IT stocks. Sell or hold?
Accenture's 4% YoYcc growth in 4QFY23, at the mid-point of its 2-6% guidance, was the sixth straight quarter of revenue deceleration for the company. Going by the company's commentary, FY25 growth expectations could be at risk as well.
What does muted Accenture guidance mean for Indian IT companies? Apurva Prasad explains
The decline in Accenture's consulting business is a significant factor in their first guidance, and the negative impact is felt in verticals such as communications. However, the managed services segment remains stable, and Indian IT companies are expected to benefit from increased market share due to strong bookings. The US economy, which historically influences Accenture's performance, is expected to recover, indicating potential growth for the IT sector.
Infosys, Wipro ADRs slump on NYSE as Accenture offers bleak growth outlook
Accenture, which released its earnings for the three months ended August, guided a meagre 2-5% growth in annual revenue in the backdrop of a subdued business environment for IT services.
Accenture's dismal Q3 adds to worries over Indian IT stocks
Accenture's revenue growth guidance downgrade for fiscal year ending August 31 has increased caution toward the IT sector, particularly Indian IT companies. Morgan Stanley's note to clients shared that Accenture's results and commentary confirmed slowdown concerns.
Blinking red! Early indicator for Indian IT companies hints at more trouble ahead of Q1 earnings
Nifty IT fell over 1% on Friday following Q3 results from Accenture, which had a negative effect on Indian IT peers. Although Accenture's revenue growth met expectations, investors were concerned about the lowering of its FY23 revenue growth guidance band, which could drag on margins and pose risks to LTIM, TechM, Infosys and HCLT. With the sector still trading at a premium amidst worsening demand, Jefferies analysts have maintained a cautious stance. Nomura is concerned about the demand outlook for Indian IT services. Meanwhile, Motilal Oswal prefers TCS followed by HCL Tech and Infosys.
Don't see any significant value in insurance stocks in near term: Sandip Sabharwal
From a retail investor perspective, I think they could start buying slowly, not put everything, whoever wants to buy into IT companies buy slowly and spread it out over the next three to four months.
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