IT shares gain on Accenture's strong Q2 show, higher revenue guidance

The strong guidance indicates that spending on change programs continues to be robust, a positive for Indian IT.

Shares of information technology (IT) companies were in focus on the bourses on Monday, with frontline stocks trading up to 2 per cent higher, after Accenture reported a robust set of earnings for the quarter ended February 2022 (Q2FY22).

The Dublin-based company's revenue grew 28 per cent year-on-year in constant currency terms and it raised its revenue growth guidance for the year (ending August) to 24-26 per cent, from 19-22 per cent. The sharp upwards revision, analysts said, indicated strong spending on change programs, which is positive for the Indian IT.

Wipro, Tech Mahindra, Infosys, Coforge and Mphasis from