Noida, June 19 (APAC Media): Shares of Infosys plunged more than 8% on Friday, hitting a 52-week low and dragging the broader IT sector lower after global consulting and technology services firm Accenture trimmed the upper end of its annual revenue growth forecast, stoking concerns about demand in the tech services industry.
Indian IT stocks such as Infosys, TCS, Tech Mahindra and Mphasis came under pressure up to 7% in early trading on Friday after Accenture, a key global technology services firm, issued a muted business outlook amid rising geopolitical uncertainties linked to the West Asia conflict.
Accenture’s subdued revenue guidance raised concerns about a potential slowdown in technology spending by clients, triggering a broad sell-off in Indian IT stocks.
A lower revenue forecast from Accenture indicates that the company expects reduced income from its core business operations.
 Indian IT Stocks Performance (June 19 Opening)
| Company | CMP (₹) | Intraday Loss (%) | YTD Performance (%) |
|---|---|---|---|
| Infosys | 1,037 | -8.8% | -36% |
| Mphasis | 2,192 | -6.3% | -22% |
| TCS | 2,076 | -6.2% | -36% |
| Tech Mahindra | 1,379 | -6.1% | -15% |
| L&T Technology Services (LTTS) | 3,805 | -5.9% | -38% |
| HCL Tech | 1,102 | -5.8% | -32% |
| Persistent Systems | 4,708 | -6.1% | -25% |
| Coforge | 1,437 | -5.5% | -13% |
Given that Indian IT firms derive a significant portion of their business from the same global client base and are largely involved in project execution and delivery, any moderation in client spending could weigh on their revenue growth prospects in the coming quarters.
Why are IT stocks declining today?
IT stocks came under significant selling pressure on Friday, dragging the broader market lower, after global technology services giant Accenture lowered its revenue growth guidance for fiscal 2027.
The company trimmed its annual revenue growth guidance to 3%-4%, compared with its earlier forecast range of 3%-5%. The guidance cut dampened investor sentiment across technology stocks, as Accenture is widely regarded as a key indicator of global IT spending trends.
Accenture attributed the softer outlook primarily to disruptions arising from the ongoing West Asia conflict, which is expected to weigh on its consulting business. The company said the crisis could result in an estimated revenue impact of about $100 million during the period.
In addition, Accenture projected free cash flow in the range of $10.8 billion to $11.5 billion for the fiscal year.
The company also flagged pressure from its U.S. federal business, estimating a roughly 1% impact on overall revenue growth. The combination of geopolitical uncertainties and weakness in certain business segments raised concerns about demand conditions in the global technology services sector, triggering a broad-based selloff in Indian IT stocks.
–ENDS–
Disclaimer:Â Views expressed are those of experts and do not reflect APAC Media. This is for informational purposes only, not financial advice. We are not responsible for investment decisions. Please consult a qualified financial advisor before investing.
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