IT shares in demand led by Infosys, as Accenture ups FY22 outlook by 700bps

Accenture reported strong revenue in Q1FY22 and upgraded its annual guidance by a massive 700bps as it continues to gain from demand for Cloud transformation.

Shares of information technologies (IT) companies were in demand with Nifty IT index gaining over a per cent in an otherwise weak market after Accenture reported strong results for the quarter ended November (Q1FY22) and also gave a strong FY22 outlook. Accenture follows July to August as financial year.

At 09:41 am; Nifty IT index, the sole gainer from the sectoral indices, was up 1.5 per cent, as compared to 0.63 per cent decline in the Nifty50 index.

Infosys, Wipro, MphasiS, HCL Technologies, Mindtree, Tech Mahindra, Larsen & Toubro Infotech and Tata Consultancy Services (TCS) from the index