IT stocks rally on Accenture’s FY22 guidance; Infosys, Wipro at new highs

Shares of information technology (IT) companies were on roll with most of the frontline stocks trading at fresh all-time highs on the bourses on strong revenue guidance by global IT firm Accenture for the financial year 2021-22 (FY22). Accenture forecasted 12-15 per cent revenue growth for FY22, on top of the $50.5 billion revenue it achieved in the current fiscal.

At 09:32 am; Nifty IT index, the top gainer among sectoral indices, was up 2.2 per cent, as compared to 0.48 per cent risen in the Nifty50 index. The IT index hit a new high of 37,810.75 on the NSE in intra-day trade on Friday.

Larsen & Toubro Infotech, KPIT Technologies, Mphasis, Cyient, Sonata Software, Wipro, Zensar Technologies and L&T Technology Services were up in the range of 3 per cent to 7 per cent.