Infosys, Wipro ADRs soar up to 8% as strong Accenture earnings forecast lifts mood
Infosys and Wipro ADRs rallied in US premarket trading after Accenture forecast stronger-than-expected annual revenue growth. Its upbeat outlook eased concerns over global technology spending, while steady consulting, managed-services and AI demand improved sentiment toward Indian IT exporters.
On Thursday, the ADRs of Infosys and Wipro surged in US pre-market trading following Accenture's forecast of full-year revenue growth exceeding market expectations. The Indian IT firms saw gains of around 8% for Infosys ADRs and 3% for Wipro ADRs. Accenture's shares also rose more than 7% as the consulting giant predicted annual revenue growth of 3-6%, surpassing analyst estimates.
The optimistic outlook from Accenture is believed to indicate resilience in global demand for technology services, benefiting Indian IT exporters like Infosys, Wipro, TCS, HCLTech, and Tech Mahindra, who rely heavily on US and European client spending.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
