ACCENTURE IT STOCKS
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.
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%.
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.
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.
Load More
