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Indian IT Stocks Rally As Accenture Raises Forecasts
Accenture raised its revenue guidance for the third time pushing Indian IT Stocks higher in trade on the bullish forecast.
According to a Reuters report Accenture Plc raised its full-year revenue forecast for the third time, reflecting rising demand for the company's consulting and outsourcing services from firms looking to cut costs.
The company also reported third-quarter profit and revenue above analysts' estimates, helped by growth in its digital business and a rise in revenue from North America, Reuters reported.
Indian IT companies did not have a very good March quarter and almost all of the companies that reported results saw their results way below street estimates.
Analysts are now eagerly awaiting the results for the June quarter to see if there would be any improvement.
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