CLSA has reiterated its positive outlook on Indian IT services, following Accenture’s decision to raise its FY25 organic growth guidance to 3–4%, citing strong traction in Gen AI, cloud, and digital transformation services.
The brokerage noted that Accenture’s market share gains are being driven by the integration of Gen AI across its offerings, with cognitive solutions being actively developed for multiple global clients. This momentum, according to CLSA, has strengthened the booking pipeline and supports the upgraded guidance.
CLSA also pointed out that BFSI growth remains resilient, a trend which mirrors the performance of Indian IT companies in the sector. Given these developments, the brokerage has reaffirmed its overweight (OW) stance on the Indian IT portfolio, excluding LTIMindtree.
Among the top picks in the sector, CLSA has listed Infosys, Tech Mahindra, and Persistent Systems, viewing them as best positioned to benefit from the ongoing digital shift and AI-led enterprise transformation.
Disclaimer: The views expressed in this article are those of the brokerage firm and do not represent the views of this publication. Investors are advised to consult certified financial advisors before making any investment decisions.
