Accenture Q2: Demand weakness priced-in by Indian IT stocks, say analysts

IT stocks today, Accenture Q2 results: Despite Accenture’s cautious demand outlook for information technology (IT) services, the medium-term outlook for Indian IT may not be as bad as feared, analysts said on Friday.

This, they believe, is due to Indian IT companies’ minimal exposure to projects related to the US Government – a key concern raised by Accenture. That apart, deterioration in near-term discretionary spends, too, is priced-in the share prices of IT companies, limiting steep downside, they added.