CNBC
19 Jun 2026, 05:07 UTC · 19w ago
Indian IT stocks slump up to 7% as Accenture cuts revenue outlook, fueling fresh concerns over sector growth
Impact · against what's priced in
Accenture's guidance cut acts as a negative catalyst for the Indian IT sector by validating concerns over weakening global demand and valuation premiums. The price drops in TCS, Infosys, and Tech Mahindra reflect a market correction as these stocks are perceived as overpriced relative to global peers amid AI-driven structural shifts.
- ACN−0.80
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