IT stocks advance after strong Accenture Q2

Information technology stocks moved higher after Accenture Plc reported strong second-quarter results, boosting sentiment across the sector.

The Nifty IT index rose 1.64% to 29,048.25, although it remains down 27.92% from its 52-week high of 40,301.40.

Among individual stocks, Oracle Financial Services Software gained 3.36%, Tech Mahindra rose 3.05%, HCL Technologies advanced 2.63%, and Infosys climbed 2.31%. Persistent Systems added 2.02%, Mphasis rose 1.51%, Wipro gained 1.18%, Tata Consultancy Services edged up 0.93%, and Coforge increased 0.66%.

Accenture reported nearly 8% year-on-year growth in revenue to $18 billion for the second quarter of FY26, supported by record bookings. The company posted bookings of $22.11 billion, up 6% year-on-year, while net income rose 2.20% to $1.86 billion. Diluted earnings per share increased 4% to $2.93.

 

Looking ahead, Accenture revised its full-year revenue growth guidance to 4% to 6% in local currency, excluding a 1% impact from its US federal business. It expects GAAP diluted earnings per share in the range of $13.25 to $13.50, reflecting a growth of 9% to 11%, while adjusted earnings are projected to grow 6% to 8%.

The company also raised its free cash flow guidance, now expecting it to be between $10.8 billion and $11.5 billion, indicating continued strength in demand and deal pipeline.

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