JKB Financial Services Ltd.

As on : 19-Jun-2026

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19-Jun-2026 10:28

IT stocks tumble as Accenture trims FY26 growth outlook

Accenture now expects FY26 revenue growth of 3% to 4% in local currency, compared with its earlier forecast of 3% to 5%. Excluding the impact of its U.S. federal business, the company expects growth of 4% to 5%, down from 4% to 6% projected earlier.

The company reported third-quarter revenue of $18.72 billion, up 5.6% year-on-year in U.S. dollar terms and 3% in local currency. Net income rose 6.4% to $2.39 billion, while diluted EPS increased 9% to $3.80.

Despite the decent quarterly performance, investors focused on the softer full-year outlook. The revised guidance sparked concerns about demand visibility and discretionary technology spending.

Reflecting the negative sentiment, the Nifty IT index plunged 5.15% to 27,001.20.

Infosys led the decline, dropping 7.23%, followed by TCS (-5.52%), Mphasis (-4.86%), LTIMindtree (-4.41%), Persistent Systems (-4.36%), HCLTech (-4.22%), Tech Mahindra (-4.16%), Wipro (-3.30%), Coforge (-2.76%) and Oracle Financial Services Software (-0.27%).

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