IT Stock rally as Accenture posts strong Q3 results


Published On: Friday, June 26, 2020 | By:

IT Stock rally as Accenture posts strong Q3 results

Information technology (IT) companies' shares rallied 4 per cent on Friday after Accenture came out with better-than-expected quarterly numbers. The company reported an adjusted third-quarter profit of $1.90 a share, which beat the $1.85 average estimate of 22 analysts surveyed by Bloomberg. The top gainers from the IT industry included NIIT Tech which jumped 8 per cent followed by Infosys which gained over 6 per cent. The other gainers included Mindtree, Tata Consultancy Services, Tech Mahindra and Wipro. The most active stocks on NSE in terms of value included Infosys where 2,60,30,535 shares were traded followed by TCS where 63,00,912 shares were being traded. The brokerage remains bullish on Infosys and TCS. Analysts at Motilal Oswal Financial Services said stronger-than-expected results/commentary of Accenture sets an encouraging tone for the impending earnings season for Indian IT.

Source: Money Control, Business India,

We are on Telegram!

Telegram Logo

JOIN our telegram channel to receive updates on Financial News and Stock and FNO Tips.

Click Here!

Follow Us On: