IT Stocks Gain Up To 3% As Accenture Raises Growth Guidance
Last Updated: 23rd March 2026 - 06:21 pm
Summary:
Indian IT stocks saw a positive trend on March 20, with the Indian IT index increasing by over 1.6%, following a revenue increase of $18 billion and a rise in its FY26 guidance for growth, according to company filings and brokerage notes.
Join 5paisa and stay updated with Market News
Indian IT stocks traded higher on March 20, with the Indian IT index increasing 1.63% to 29,046 in early trade, supported by positive stocks in major technology stocks, according to market data.
Tech Mahindra rose 2.9%, Persistent Systems and Oracle Financial Services gained 2.7% each, while Coforge, Infosys, Mphasis, HCLTech, Tata Consultancy Services, and Wipro advanced between 1% and 2%. LTIMindtree declined 2.6% during the session.
Accenture Results Support Sentiment
The gains followed Accenture’s second-quarter results, where the company reported revenue of $18 billion, reflecting an 8% increase in dollar terms and 4% growth in local currency, according to company disclosures.
Accenture raised its full-year FY26 revenue growth guidance to 3%–5% from the earlier range of 2%–5%. The company stated that excluding a 1% impact from its U.S. federal business, growth would be in the range of 4%–6%.
Deal Bookings Remain Strong
Accenture reported new bookings of $22.1 billion, marking a 6% increase year-on-year in dollar terms, indicating continued deal flow despite global macroeconomic uncertainty, according to company data.
Currency Movement Supports Sector
Indian rupee has lost 4%-5% in the last few months, according to the data available. It is beneficial for sectors like the information technology segment.
The movement in IT stocks is driven by the reaction to the earnings and guidance update from Accenture.
- Flat ₹20 Brokerage
- Next-gen Trading
- Advanced Charting
- Actionable Ideas
Trending on 5paisa
Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.
5paisa Capital Ltd