Despite layoffs, Accenture Q2 outlook a relief for IT companies

Firm logs record $11.4 bn in managed service bookings

Despite the layoffs announced by IT services and consulting major Accenture, the firm’s Q2 results outlook came as a breather for the Indian IT services sector, which has been under cloud ever since the banking turmoil in the US and Europe, said analysts.

Accenture’s performance was evident among Indian IT stocks, which were up in the early hours of trading.

Nifty IT opened at 28,208, up 0.75 per cent over the previous close, touched a high of 28,454 (up 1.62 per cent), before closing at 27,936 (down 0.23 per cent).

Accenture, which follows a September-August financial year, reported revenues of