Accenture Q3FY21 earnings: Five key takeaways for Indian IT companies

A strong operational performance by Accenture during Q3FY21 in its outsourcing vertical sets the tone for an upcoming earnings season for the Indian IT service companies, Edelweiss Research said

Shares of Indian information technology (IT) companies were off to a firm start in Friday's trade, drawing strength from an excellent set of numbers reported by the global behemoth in the consulting and IT services -- Accenture.

While the Nifty IT index was trading over half a per cent higher in early deals, most stocks, barring Wipro, gained up to 2 per cent. Shares of TCS, Infosys, Tech Mahindra, Mindtree and Coforge even logged fresh 52-week highs.

Accenture on Thursday report better-than-expected third-quarter numbers with 16 per cent year-on-year (YoY) growth in revenue. The company also raised its fiscal 2021