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Stocks of IT majors have gained up to four per cent over the past week on expectations that IT budgets of North American companies could trend higher.
Over 60 per cent of revenues for top IT firms come from North America, and revenue visibility, given a positive management commentary by Accenture, could lead to a growth upcycle. On Accenture results last week, analysts at Morgan Stanley had said, “Revenue beat, uptick in lower end of guidance, record growth in new bookings, among others, bode well for Indian IT vendors and could reflect positively on the stock sentiment.”
One of the
