GLOBAL IT SERVICES leader Accenture's Q1 FY25 results and upgraded revenue guidance have emerged as a confidence booster for the Indian IT sector. Analysts view the performance as a positive signal for an industry navigating muted demand and cautious client spending.
Accenture revised its FY25 annual revenue growth projection to 4-7%, up from 3-6%, citing reduced forex headwinds. The company's strong Q1 performance, including $1.2 billion in bookings driven by demand for AI and digital transformation projects, points to a growing focus on large-scale initiatives. Brokerages suggest this trend aligns well with the strategies of Indian IT firms, which are emphasizing big-ticket deals amid tighter budgets for smaller projects.
"FY25 guidance upgrade underscores the improving backdrop for Indian IT," Motilal Oswal Financial Services noted in a report on Friday. "The initial phase of recovery in H1FY25 was sluggish, but we now see clear signs of an acceleration, with demand expanding beyond US BFSI to other verticals."
However, Indian IT stocks fell 1-3% on Friday, mirroring the broader bearish sentiment in the market.
Denne historien er fra December 21, 2024-utgaven av Financial Express Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 21, 2024-utgaven av Financial Express Delhi.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
RIL's O2C segment set to bounce back in FY26
AFTER A SUBDUED performance in FY25, brokerages anticipate a rebound in Reliance Industries' oil-to-chemicals (O2C) segment, the company's largest revenue driver, driven by an expected improvement in refining margins in the next financial year.
Retrospective on first year back
There's no shortage of downside risks for 2025, but don't expect supporters to turn on him
US Supreme Court Upholds Law That Would Ban TikTok
The justices ruled that the law did not violate USConstitution's First Amendment protection against government abridgment of free speech
Will not attend Trump inaugural, says Nvidia CEO
NVIDIA'S CHIEF EXECUTIVE Jensen Huang said on Friday he will not be attending U.S. President-elect Donald Trump's inauguration, but will instead be \"on the road\" celebrating the Lunar New Year with employees and their families.
Rajnath Calls for Stronger Offense and Defence
INDIA'S OFFENSIVE AND defensive responses need to be further strengthened in view of turmoil in the rules-based global order, defence minister Rajnath Singh has said.
Axis Bank Stock Sinks 6% on Weak Q3 Show
Stocks hit 52-week low; brokerages slash price targets
Reducing Tax Disputes Can Unlock Revenues
HUGE PILE-UP OF INCOME TAX DISPUTES A SERIOUS CONCERN
EV industry needs better cost structure
After being in a near-monopolistic position in the EV space for a few years, Tata Motors is set to face heavy competition in 2025 with rivals like Maruti Suzuki, Hyundai, M&M and JSW MG Motor gearing up with launches.
Quad meet with India on the table day after Trump takes office
● Secy of State nominee Rubio had faulted Obama govt for neglecting India-US ties
Cabinet Approves Refarming of 687 MHz Spectrum for 5G, 6G
COMMUNICATIONS MINISTER JYOTIRADITYA Scindia on Friday said the Cabinet has approved the refarming of 687 MHz of spectrum from various government ministries for the deployment of 5G and future 6G services.
