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Indian IT sectors US Visa dependency at a decade low: Report

Indian IT sectors US Visa dependency at a decade low: Report
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Infosys, HCL Tech, TCS, Wipro, TechM shares: Accenture s Q1 growth has cues on Q2 IT results, stock valuations

Accenture’s weak guidance for Q2FY24 (hinting at a sequential decline in revenue could mean a weak December quarter for most Indian IT companies largely due to higher furloughs and fewer working days.

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Sharp up-move in IT stocks implying faster demand inflection than what Accenture commentary indicates

Accenture's 1QFY24 growth albeit within its guided band was the slowest since the pandemic and interestingly, incremental deceleration over the past couple of quarters has come from Managed Services, a closer proxy for India IT Services demand, .

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accenture guidance: IT stocks rally looks pre-mature 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.

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Sharp Up-Move In IT Stocks Implying Faster Demand Inflection Than What Accenture Commentary Indicates

Sharp Up-Move In IT Stocks Implying Faster Demand Inflection Than What Accenture Commentary Indicates
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