Six IT stocks rose by 0.4% to 6% at 11:25 IST on BSE after global a global management consulting, technology services and outsourcing giant Accenture raised its full year revenue growth forecast for the second time in a year.
Meanwhile, the S&P BSE Sensex was up 55.83 points or 0.2% at 27,513.41.
Among IT stocks, MphasiS (up 1.51%), Hexaware Technologies (up 6%), Infosys (up 2.87%), Tech Mahindra (up 0.4%), TCS (up 1.73%) and HCL Technologies (up 0.88%) gained. Wipro fell 0.5%.
The BSE IT index had underperformed the market over the past one month till 26 March 2015, falling 4.6% compared with the Sensex's 4.48% fall. The index had however outperformed the market in past one quarter, gaining 7.99% as against Sensex's 0.79% rise.
Accenture's net profit rose 3% to $743 million on 5% rise in net revenues to $7.5 billion in Q2 February 2015 over Q2 February 2014. Diluted earnings per share rose 5% or $0.05 to $1.08 in Q2 February 2015 over Q2 February 2014. The Q2 result was announced yesterday, 26 March 2015. Operating profit rose 7% to $1.02 billion Q2 February 2015 over Q2 February 2014. Operating margin rose 0.3% to 13.6% in Q2 February 2015 over Q2 February 2014.
New bookings for the quarter were $9.4 billion, with consulting bookings of $4.2 billion and outsourcing bookings of $5.1 billion.
In business outlook, Accenture expects net revenues for Q3 May 2015 to be in the range of $7.35 billion to $7.60 billion. This range assumes a foreign-exchange impact of negative 11% compared to Q3 May 2014. Accenture's business outlook for the full fiscal year ending 31 August 2015 (FY 2015) now assumes a foreign-exchange impact of negative 8% compared with fiscal 2014; the previous foreign-exchange assumption was negative 5%.
For fiscal 2015, the company has raised its outlook for net revenue growth in local currency to be in the range of 8% to 10%, compared with 5% to 8% previously. Accenture is now targeting new bookings for fiscal 2015 in the range of $33 billion to $35 billion, compared with $34 billion to $36 billion previously, reflecting its revised foreign-exchange assumption.
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