IT stocks gain on Accenture revenue growth forecast

Technology stocks witnessed buying today as consulting and outsourcing major Accenture increased its net revenue growth forecast, reflecting a strong trend for the overall IT services sector.
Shares of HCL Technologies gained 3.28 per cent, TCS scrip rose 1.66 per cent, while Infosys was up 1.51 per cent on the BSE.
TCS was the top gainer among the 30-Sensex stocks.
Hexaware Technologies was up 0.99 per cent, Wipro gained 0.90 per cent.
The BSE IT index ended at 10,719.36, up 1.36 per cent.
The US-based firm, which posted revenues of USD 7.8 billion (up 0.4 per cent in USD terms and 10 per cent in local currency) for the third quarter ended May 31, 2015, has a global headcount of about 3,36,000 people.

The company has increased its net revenue growth forecast in local currency to be in the range of 9 to 10 per cent, compared with 8 to 10 per cent previously.
For the fourth quarter, Accenture expects net revenues to be in the range of USD 7.45 billion to USD 7.70 billion, assuming a foreign-exchange impact of negative 10 per cent compared with the fourth quarter of fiscal 2014.