Shares of Indian IT companies witnessed mixed movement in early trading hours, with several stocks posting gains, following Accenture’s Q1 results, which indicated strong revenue growth driven by large deal ramp-ups. The market sentiment was further supported by brokerage reports highlighting optimism for the sector.
Top Gainers
- TCS: Up 1.13% at ₹4,320.15
- Mphasis: Up 1.04% at ₹3,149.50
- Wipro: Up 0.74% at ₹315.05
- KPIT Technologies: Up 0.78% at ₹1,525.00
Brokerage Insights
- Jefferies: Accenture’s strong revenue performance and uptick in financial services are seen as positive signals for TCS, Infosys, Coforge, and Wipro.
- Nuvama: Highlighted Accenture’s guidance upgrade due to faster deal execution, projecting a positive impact on Indian IT firms.
- CLSA: Remained cautiously optimistic, favoring Persistent Systems, Tech Mahindra, and Wipro, but expressed concerns over weak order books for others.
- Morgan Stanley: Indicated Accenture’s results could boost sentiment for Indian IT stocks, though clarity on 2025 IT budgets remains limited.
Other Movers
- Infosys: Up 0.35% at ₹1,953.10
- Persistent Systems: Up 0.28% at ₹6,693.00
- Coforge: Up 0.04% at ₹9,660.85
Underperformers
- LTIMindtree: Down 0.42% at ₹6,194.60
- Tech Mahindra: Down 0.70% at ₹1,742.05
- Oracle Financial Services: Down 0.14% at ₹12,812.45
The sentiment in the IT sector remains cautiously optimistic as analysts continue to monitor order inflows and discretionary spending trends globally.
Disclaimer: The above is for informational purposes only. Please consult a financial advisor before making any investment decisions.
