Accenture’s latest quarterly results sent Indian IT stocks falling on Friday, as they signalled not just client caution but also rapid market share gains for the Dublin-based IT giant. That said, CLSA remained constructive on the Indian IT sector due to attractive valuations, saying Gen AI is not emerging as a headwind, and that margins are largely stable. Advertisement

Accenture's Q4 revenues at $17.6 billion, up 4.5 per cent in constant currency terms, were close to the top end of its guidance. CLSA noted that Accenture's 'Managed services' grew 9 per cent overall and 10 per cent in financial services, while order bookings in managed services rebounded to $12.44 billion in Q4, up 7.2 per cent YoY. CLSA said that these trends suggest Gen AI is expanding revenues rather than compressing

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