Why Accenture guidance is good news for Indian IT companies
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Accenture s robust 3QFY21 performance and commentary is a positive read-across for Indian IT companies as it indicates continued demand in key industries
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Read Full Story For investors in Indian IT stocks, there are a couple of positive takeaways from Accenture’s Q3FY21 result. The IT firm saw strong constant currency revenue growth of 16% year-on-year. The growth, aided by a low base, beat Bloomberg’s consensus estimates by 400 basis points (bps) and the top end of its own guidance by 300 bps. This bodes well for tier-I firms such as Tata Consultancy Services, Infosys and HCL Technologies as Accenture’s earnings are often seen as an indicator for Indian IT companies’ future performance.