Homemarket news

TCS, Infosys and Wipro shares gain ahead of Accenture results

TCS, Infosys and Wipro shares gain ahead of Accenture results

By CNBCTV18.com  IST (Updated)

Mini

TCS, Infosys, Wipro and other Indian IT stocks rose on Thursday, ahead of the release of IT consulting firm Accenture's quarterly results.

Shares of TCS, Infosys, Wipro and other major tech giants rose on Thursday, ahead of the release of Accenture's financial results. The IT consulting firm raised its full-year revenue growth guidance to 25.5-26.5 percent.
TCS, Infosys and Wipro shares closed 1-3 percent higher.
Stock/indexChange (%)
Nifty IT2
Coforge5.3
Mindtree4.6
LTI2.9
LTTS2.3
HCL Tech1.4
Tech Mahindra1.2
Mphasis1.1
The upwards revision in guidance comes at a time when Indian IT companies — including the likes of TCS, Wipro, Infosys, HCL Technologies and Tech Mahindra — are struggling against shrinking margin despite healthy demand.
In March, Accenture had adjusted its revenue growth guidance to 24-26 percent on a year-on-year basis in the second quarter of its financial year from 19-22 percent.
CompanyRevenue growth guidance (%)Period
Infosys13-152022-23
HCL Tech12-142022-23
Wipro1-3Apr-June 2022
Accenture — which follows a September-August cycle of financial year — continues to expect operating margin of 15.2 percent. It also declared a dividend of $0.97 per share, up 10 percent from the corresponding period a year ago.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!