Accenture Q4 drags Infosys, TCS, Wipro shares as client caution stays
Infosys fell 1.46 per cent to Rs 1462.90. Wipro Ltd declined 1.47 per cent to Rs 238.40. HCL Technologies Ltd was down 1.2 per cent at Rs 1,406.30.
- Sep 26, 2025,
- Updated Sep 26, 2025 10:25 AM IST
Accenture's Q4 results dragged IT counters such as Tata Consultancy Services (TCS), Wipro, Infosys and HCL Technologies on Friday, even as the Dublin-based company's organic revenue growth of 1.5 per cent in constant currency (CC) terms beat the consensus estimate and came in near the top end of its quarterly guidance. The FY26 (August ending) guidance by Accenture at 0.5-3.5 per cent also came in better than last year's starting point of 0-3 per cent, but the commentary around demand remained stubbornly non-committal – the upper end assumes zero recovery in macros, whereas the lower end allows for further deterioration, MOFSL noted.
Infosys fell 1.46 per cent to Rs 1462.90. Wipro Ltd declined 1.47 per cent to Rs 238.40. HCL Technologies Ltd was down 1.2 per cent at Rs 1,406.30. TCS dropped 0.94 per cent to Rs 2,932.50. Tech Mahindra Ltd also fell1.03 per cent to Rs 1,429.05.
Accenture’s commentary indicates that while the overall macro backdrop remains unchanged from FY25, clients continue to exercise caution on discretionary consulting spend, Antique Stock Broking said.
"While discretionary consulting spend remains subdued and consulting bookings were modest, structural opportunities continue to emerge from advanced AI adoption and large-scale transformation programs. For Indian IT, we expect near-term headwinds to persist, with demand conditions likely to improve meaningfully only in 2HFY26E. We believe stocks will remain range-bound in the interim," Antique said.
The read through for Indian IT remains at status quo vis-a-vis last quarter with continued traction in financial services vertical and AI-led projects, ICICI Securities said while suggesting slow discretionary spending and deal conversions are a key concern.
Choice Broking sees a subdued demand environment, with weakness in consulting and flat managed services bookings pointing to limited near-term revenue acceleration. While resilience in financial services is a positive, ongoing softness in communications and retail weighs on overall sentiment, it said.
Accenture's Q4 results dragged IT counters such as Tata Consultancy Services (TCS), Wipro, Infosys and HCL Technologies on Friday, even as the Dublin-based company's organic revenue growth of 1.5 per cent in constant currency (CC) terms beat the consensus estimate and came in near the top end of its quarterly guidance. The FY26 (August ending) guidance by Accenture at 0.5-3.5 per cent also came in better than last year's starting point of 0-3 per cent, but the commentary around demand remained stubbornly non-committal – the upper end assumes zero recovery in macros, whereas the lower end allows for further deterioration, MOFSL noted.
Infosys fell 1.46 per cent to Rs 1462.90. Wipro Ltd declined 1.47 per cent to Rs 238.40. HCL Technologies Ltd was down 1.2 per cent at Rs 1,406.30. TCS dropped 0.94 per cent to Rs 2,932.50. Tech Mahindra Ltd also fell1.03 per cent to Rs 1,429.05.
Accenture’s commentary indicates that while the overall macro backdrop remains unchanged from FY25, clients continue to exercise caution on discretionary consulting spend, Antique Stock Broking said.
"While discretionary consulting spend remains subdued and consulting bookings were modest, structural opportunities continue to emerge from advanced AI adoption and large-scale transformation programs. For Indian IT, we expect near-term headwinds to persist, with demand conditions likely to improve meaningfully only in 2HFY26E. We believe stocks will remain range-bound in the interim," Antique said.
The read through for Indian IT remains at status quo vis-a-vis last quarter with continued traction in financial services vertical and AI-led projects, ICICI Securities said while suggesting slow discretionary spending and deal conversions are a key concern.
Choice Broking sees a subdued demand environment, with weakness in consulting and flat managed services bookings pointing to limited near-term revenue acceleration. While resilience in financial services is a positive, ongoing softness in communications and retail weighs on overall sentiment, it said.