Nifty IT up on Accenture’s strong inorganic growth and acquisition spree

The sectoral index Nifty IT surged 2.7% to an intraday high of 35,875.30 after the IT bellwether Accenture reported its Q3 results. The company threw up a few positive elements, such as strong booking growth and raised the inorganic growth guidance from 2%+ to 3%.

However, Accenture revised its full-year revenue guidance, slashing the growth range to 1.5%–2.5%, compared to the previous growth guidance of 1%–3%.