IT Stocks Surge Amid Accenture's Upgraded Growth Projections

Indian IT Stocks Trade Higher After Accenture's Q2 Results

The Nifty IT index gained 1.63% to 29,046 by 09:35 am on Friday, with Accenture's Q2 results providing a boost to the sector. The IT index traded in line with gains across the market, driven by a combination of factors, including top-end revenue growth, improved guidance visibility, and steady deal bookings.

Key performers included Tech Mahindra, which rose 2.9%, and Persistent Systems, which gained 2.7%. Other notable gainers included Oracle Financial Services, Coforge, Infosys, Mphasis, HCLTech, TCS, and Wipro, which rose between 1% and 2%. In contrast, LTIMindtree declined 2.6%.

Accenture's Q2 results included $18 billion in revenue, representing an 8% increase in dollar terms and 4% in local currency. The company also raised its FY26 revenue growth guidance to 3-5% from 2-5% earlier, while excluding a 1% drag from US federal business, growth would be higher at 4-6%. New bookings rose 6% YoY in dollar terms to $22.1 billion, signaling continued deal flow despite macro uncertainty.

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Brokerages offered varying interpretations of Accenture's results, with Nomura viewing the narrowing of growth guidance as a sign of stability in growth and continued traction in financial services. Nuvama saw the top-end revenue print and guidance upgrade as a minor incremental positive, indicating resilience in demand and scope for higher investments and hiring. HSBC noted that management commentary highlighted AI as a net tailwind, driving market share gains for Accenture. Motilal Oswal, on the other hand, remained cautious, citing unchanged client budgets for 2026.