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Explained: Why Accenture's warning sparked a Rs 1.35 lakh crore meltdown for TCS, Infosys, other IT stocks
Indian IT majors faced a brutal sell-off, losing Rs 1.35 lakh crore after Accenture's revenue guidance cut. Structural fears around AI replacing traditional services and geopolitical headwinds are deepening the sector's pain. Analysts anticipate further moderation and a shift towards M&A and new client acquisition to counter slowing growth.
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economictimes.indiatimes.com
Accenture cuts revenue outlook, stock crashes 11% in pre-market trading
Accenture has lowered its annual revenue growth forecast. Companies are still cautious about spending on technology. This is happening even as they invest in artificial…
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thenextweb.com
Accenture stock drops 20%, buys $4.18bn of cybersecurity
Accenture shares fell a record 20% on fears AI is disrupting consulting, even as it agreed to buy Dragos, runZero, and NetRise for $4.18bn in cybersecurity.
