IT Stocks are Rallying Today Based on This Company's Earnings Outlook

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IT Stocks are Rallying Today Based on This Company's Earnings Outlook
Credit: © Reuters.

By Puneet Sikka

Investing.com -- Nifty IT and S&P BSE IT indices both are rallying today by around 1.2% despite meagre gains of 0.1% for the broader market index Nifty .

This is because of the robust earnings outlook provided by Accenture (NYSE: ACN ). Accenture provided strong revenue growth guidance of 12-15% for the financial year 2021-22. It also provided operating margins expansion of 0.1% to 0.3% for FY22.

The good results of Accenture rubbed onto other IT stocks as shares of Infosys (NS: INFY ), HCL Technologies (NS: HCLT ), Tech Mahindra (NS: TEML ), etc. made all-time highs in today's trade.

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  • Pradyut Roy @Pradyut Roy
    During n after Q1 result all these IT stocks were struggling although all had excellent robust result n future order booking...now on the verge of Q2 everybody specially retail investors will expect a big leg of increase but actually price will fall and DII n FII will trap Mf n retailers money
    Like 1
  • Ajay Uppal @Ajay Uppal
    Sudden Good Fall in Bitcoin..
    Like 1

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