Accenture shares tank 11% despite beating Q3 revenue estimates. Infosys ADRs fall 3%
Accenture shares fell 11% on Friday, hitting the day’s low of $273.19, notwithstanding a revenue beat for third quarter driven by growing demand for the consulting giant’s AI-driven services from enterprise customers. It reported revenue of $17.7 billion for the quarter ended May 31, compared with analysts’ average estimate of $17.30 billion, Reuters reported, citing…
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IT stocks slip up to 3.5% after Fed holds rates, flags persistent inflation
Indian IT stocks declined on Thursday after the US Federal Reserve left its benchmark interest rate unchanged, maintaining the target range at 4.25% to 4.5%, while signaling persistent inflation concerns and a cautious outlook on the economy. Although the Fed kept rates steady for the sixth straight meeting, it maintained projections for two rate cuts…
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Coforge shares soars 6% after JP Morgan sees more upside, bets on growth and margin expansion
Coforge shares surged nearly 6% to Rs 1,895 on the BSE in Tuesday’s trade after JP Morgan reiterated its ‘Overweight’ rating on the stock with a target price of Rs 2,080, implying an upside potential of 16% from the previous close. The brokerage said it remains confident about Coforge’s industry-leading growth prospects and margin expansion….
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Coforge shares go ex-split tomorrow, last day to buy for 1:5 stock split eligibility
Shares of Coforge will begin trading on an ex-split basis from Wednesday, June 4, 2025, as the company had earlier announced that June 4 would be the record date for determining the eligibility of shareholders entitled to receive the subdivided equity shares in 1:5 ratio. Therefore, today, June 3, becomes the last day for investors…
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Moody’s US downgrade, a fresh jolt for IT stocks after stellar 30% rally – buy or avoid?
US’ credit ratings downgrade by Moody’s could create a short-term setback for the IT stocks, which have enjoyed a formidable run on the D-Street over the past month, rising by up to 30%. A glimpse of which was seen on Monday where tech counters fell sharply. “Moody’s downgrade comes following Fitch’s earlier action in August…
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