Indian IT stocks drop after Accenture's quarterly results signal 'patchy' demand recovery

India's Nifty IT index .NIFTYIT was down 1.3%, with all 10 stocks on the index trading in the red

U.S. tech company Accenture ACN.N beat fourth-quarter revenue estimates, but analysts say dicretionary demand remains unchanged

Analysts at Macquarie say the common takeaway is that "demand recovery is patchy as of now"

Heavyweights Infosys INFY.NS and TCS TCS.NS decline 1.7% and 1%, respectively

LTIMindtree LTIM.NS was the top percentage loser, down 2%

The muted growth guidance poses downside risks to consensus expectations of acceleration in growth in FY27 for Indian IT firms, Jefferies says

Goldman Sachs says FY26 revenue growth expectations remain unchanged

Adds that FY27 rev growth estimate for Indian IT firms could be at risk if discretionary demand shows no signs of improvement this year

NIFTYIT down ~21% so far in 2025 vs a ~5% rise in Nifty 50 index .NSEI