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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.
For TCS, focus would be on strategic direction under the new CEO. For TechM, focus would be on a possible turnaround under new CEO. Investors could also be looking for a buyback from Infosys and Wipro, Jefferies said.
History shows that the reticent Azim Premji can be ruthless with his CEOs when Wipro lags its peers. But will he hold his son to the same standard? ....
TCS shares are up 10.35 per cent for the one-month period. Infosys shares are up 9.37 per cent for the same period. Wipro has climbed 12.44 per cent, HCL Tech 13.83 per cent and TechM 8.13 per cent.
Shares of Wipro have bounced back strongly, gaining 12% to ₹422 apiece from the November low of ₹377. This resurgence has positioned the stock in close proximity to its 52-week high of ₹443.75 apiece. ....