Accenture Q2FY22 results and what it means for the Indian IT sector

Accenture's order wins, downward revision in Ebit margin, and the evolving Russia-Ukraine conflict need to be closely watched, said analysts

Information technology (IT) companies advanced up to 2 per cent on the bourses on Monday as investors assessed the implications of Accenture's solid Q2FY22 results for the Indian IT sector.

Wipro, Tech Mahindra, Infosys, Coforge and Mphasis from the Nifty IT index advanced in the range of 1 per cent to 2 per cent in the intra-day trade. The Nifty IT index, meanwhile, added 0.8 per cent in intra-day trade.

Last week, the Dublin-based company reported revenue at $15 billion, up 24 per cent YoY in dollar terms and 28 per cent in local currency, driven by broad-based over-delivery across verticals, geographies