Indian IT stocks tumble as Accenture "pours water" on hopes of rebound in demand

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PC party leader attends the protest in support of fishermen | SaltWire #newsupdate #newfoundlandBENGALURU - Shares of Indian IT services firm tumbled more than 3% on Friday, a day after Accenture cut its fiscal 2024 revenue forecast, dashing hopes of a rebound in demand recovery.

But Accenture chopping its revenue growth forecast to 1% to 3%, from 2% to 5%,"pours water on the rebound narrative," Ashwin Mehta of Ambit Capital said in a note.

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