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The Economic Times
The Economic Times
Akash Podishetti

Infosys, Wipro ADRs soar up to 8% as strong Accenture earnings forecast lifts mood

Accenture Infosys Wipro Podishetti Akash United States SEBI TCS Tech Mahindra

The ADRs of Infosys and Wipro rose in US pre-market trading on Thursday after Accenture forecast full-year revenue growth above Street expectations, easing some concerns over demand weakness in the global technology services sector. Infosys ADRs gained about 8%, while Wipro ADRs rose 3%, tracking the positive reaction to Accenture’s earnings and guidance.

Shares of Accenture rose more than 7% in premarket trading after the consulting major said it expects annual revenue growth of 3-6%, which was better than analyst estimates.

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