Takeaways for Indian IT stocks and Accenture Q3 results: Demand weakness may be bottoming out for the Indian information technology (IT) companies, analysts said on Friday.
The optimism stems from Dublin-based Accenture's third quarter results for financial year 2023-24 (Q3FY24), which, analysts noted, showed green shoots of recovery.
Accenture follows the September to August financial year.
According to analysts, two key takeaways from Accenture's commentary stand out for Indian IT. First, consulting to return to growth in Q4; and second, bookings-to-revenue