Infosys ADR, Wipro ADR slip up to 10% after Accenture cuts growth guidance
New Delhi, June 19 -- The American Depository Receipts (ADRs) of Infosys and Wipro slipped up to 10% on the NYSE Thursday after Accenture lowered its annual revenue growth guidance.
Infosys ADR price ended 9.71% lower at $10.56 apiece on Thursday after falling more than 10% during the session. Wipro ADR closed 3.63% lower at $2.39 apiece. During the session, Wipro ADR price dropped over 9% to an intraday low of $2.25 apiece on NYSE.
The fall in Infosys and Wipro ADRs came after IT services giant Accenture narrowed the upper end of its full-year revenue growth forecast, sending its shares down more than 17% and sparking an industry selloff.
Meanwhile, Cognizant shares tanked over 10% and IBM shares slid more than 5% and Capgemini closed...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.