Indian IT stocks slump up to 7% as Accenture cuts revenue outlook, fueling fresh concerns over sector growth
Corroborated by 2 sources from 2 publishers
asiabusiness4h ago
TL;DR
Indian Software Stocks Tumble After Accenture Warns on Growth Stocks of major Indian information technology companies fell as much as 7% on Friday after global professional service giant Accenture lowered its revenue guidance, souring sentiment toward the sector. Shares of India's largest IT company, Tata Consultancy Services, were down over 5%. Infosys dropped more than 7% while Tech Mahindra declined over 4%.