{"id":500376,"date":"2026-06-19T05:57:10","date_gmt":"2026-06-19T05:57:10","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/500376\/"},"modified":"2026-06-19T05:57:10","modified_gmt":"2026-06-19T05:57:10","slug":"indian-it-stocks-slump-up-to-7-as-accenture-cuts-revenue-outlook-fueling-fresh-concerns-over-sector-growth","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/500376\/","title":{"rendered":"Indian IT stocks slump up to 7% as Accenture cuts revenue outlook, fueling fresh concerns over sector growth"},"content":{"rendered":"

Pedestrians walk past a digital broadcast displaying share prices on the facade of Bombay Stock Exchange (BSE) on the day of India’s general election result in Mumbai on June 4, 2024.\u00a0<\/p>\n

Punit Paranjpe | Afp | Getty Images<\/p>\n

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.<\/p>\n

Shares of India’s largest IT company, Tata Consultancy Services<\/a>, were down over 5%. Infosys<\/a> dropped more than 7% while Tech Mahindra<\/a> declined over 4%. The benchmark Nifty IT Index slid more than 5%.<\/p>\n

Accenture<\/a> on Thursday cut its revenue growth<\/a> guidance for the financial year ending August 2026 to between 3% and 4% from its previous forecast of 4% to 5%.<\/p>\n

“On the revenue side, we missed revenue consensus by $90 million, and we had a $100 million impact from the Middle East,” Accenture CEO Julie Sweet told CNBC’s Squawk on the Street on Thursday, discussing the company’s third-quarter results.<\/p>\n

\"Accenture<\/p>\n

Global brokerage Citi said Thursday it remains cautious on the Indian IT sector, noting that the Nifty IT index trades around 16 times one-year forward earnings, while Accenture trades at 10 times.<\/p>\n

“We have been cautious given AI disruption, increased competitive intensity, GCC trends, etc.; the macro uncertainty increases the challenges near term,” as per Citi’s note.<\/p>\n

Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Pedestrians walk past a digital broadcast displaying share prices on the facade of Bombay Stock Exchange (BSE) on…\n","protected":false},"author":2,"featured_media":500377,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[35595,3199,114,357,85,207,152488,46,33537,178500,230103],"class_list":["post-500376","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-accenture-plc","tag-asia-economy","tag-business","tag-business-news","tag-il","tag-india","tag-infosys-ltd","tag-israel","tag-julie-sweet","tag-tata-consultancy-services-ltd","tag-tech-mahindra-ltd"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/500376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=500376"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/500376\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/500377"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=500376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=500376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=500376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}