American depositary receipts (ADRs) of Indian IT major Infosys fell more than 8% on Thursday after Accenture trimmed the upper end of its annual revenue growth forecast, raising fresh concerns over demand for discretionary technology spending. Wipro ADRs too were down nearly 6%Infosys ADRs declined over 2%, while Wipro ADRs also fell more than 2%, tracking a sharp 11% drop in Accenture's shares after the consulting giant lowered its FY26 revenue growth guidance.Accenture now expects annual revenue growth of 3%-4%, compared with its earlier forecast of 3%-5%. It also guided for fourth-quarter revenue of $17.75 billion-$18.4 billion, below Wall Street estimates of $18.47 billion, according to LSEG data.The revised outlook suggested that enterprises continue to remain cautious on discretionary IT consulting and transformation spending despite sustained investments in artificial intelligence and cybersecurity.The weaker guidance overshadowed Accenture's announcement of $4.18 billion worth of cybersecurity acquisitions, including deals for Dragos, runZero and NetRise.The read-across is significant for Indian IT companies, many of which derive a substantial portion of their revenue from North American clients and compete with Accenture in large digital transformation projects.Infosys has been betting heavily on artificial intelligence to offset pricing pressure in traditional IT services. The company has expanded investments across AI engineering, data and cloud through platforms such as Topaz and Cobalt and partnerships with OpenAI, Microsoft and Nvidia. Management has said large-scale deployment of AI tools, including GitHub Copilot across more than 30,000 developers, is helping generate new AI-led business while cushioning the impact of productivity-led pricing pressure.For FY27, Infosys has guided for 1.5%-3.5% constant currency revenue growth and expects sequential growth supported by large deal wins and contributions from acquisitions. Despite the AI push, Infosys shares have declined about 31% this year, reflecting investor concerns over slowing enterprise technology spending.Wipro, meanwhile, continues to face a tougher growth outlook. Goldman Sachs recently said FY27 could mark the fourth consecutive year of revenue decline for the company and cut its revenue and earnings estimates following its quarterly results. The brokerage also noted that Wipro's commentary had a broadly neutral read-through for the wider Indian IT sector.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)