BENGALURU, June 20 -- The Nifty IT index fell to a three-year low on Friday after bellwether Accenture forecast quarterly sales below Wall Street view, cut its annual revenue outlook and reported softer bookings in its managed services business.
Shares of Indian IT companies, including TCS, Infosys, and HCLTech fell 4% to 8% after Accenture flagged deal delays and a $400 million hit to its West Asia business from the Iran conflict.
India's $315 billion IT sector faces concerns that AI could disrupt its labour-intensive model, while geopolitical and economic uncertainty weighs on demand as clients defer non-essential tech spending.P21
Published by HT Digital Content Services with permission from Hindustan Times....