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IT still a long way from re-rating
Mint Ahmedabad
|June 26, 2025
ON THE LOOKOUT DISCRETIONARY IT spends still remain subdued, cautions Accenture management THE Nifty IT index trades at premium valuation despite delayed revenue revival
Indian IT services sector is the most preferred investment theme among fund managers, according to the latest Asia Fund Manager Survey by BofA Securities. In June, 21% of fund managers chose the sector as their top pick, up from 13% in May. The survey findings were followed by results from global IT major Accenture, which is seen as a bellwether for Indian tier-1 IT firms.
Accenture, which follows a September-August financial year, reported 7% year-on-year constant currency revenue growth in the quarter ended May (Q3FY25), beating consensus estimates and meeting the upper end of its guidance range.
A Motilal Oswal Financial Services report dated 20 June said the impact of a tariff-related pause was milder than earlier feared for Accenture.
The Nifty IT index, too, has rebounded to 39,046 after slumping to a 52-week low of 32,517 on 7 April, amid sharp selling triggered by the US tariff announcement on 2 April.
This story is from the June 26, 2025 edition of Mint Ahmedabad.
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