Infosys ADR surged over 38% to nearly $27 before trading was halted on the NYSE, Reuters reported. In India, Gift Nifty futures jumped more than 220 points, while Infosys shares closed 0.7% higher at ₹1,638 on the NSE.
Accenture cues lift IT sentimentThe move came against a supportive backdrop for IT stocks. On Friday morning, Indian IT majors advanced after Accenture reported its first-quarter results late Thursday. Shares of Infosys, TCS, Tech Mahindra, Wipro and HCLTech, along with several mid-caps, traded higher.
Accenture posted better-than-expected Q1 revenue growth of 5% but retained its full-year guidance at 2–5%, excluding a 1% contribution from US government business. It also maintained its FY2026 organic growth outlook at 0.5–3.5%, signalling continued caution on discretionary spending.Management said overall tech spending remains flat year-on-year, with no clear macro tailwinds. Generative AI, however, continues to gain traction: AI contributed 11% of new bookings and 6% of revenue; advanced AI bookings jumped 76% year-on-year to $2.2 billion, while revenue more than doubled to $1.1 billion. Accenture added it will stop reporting AI metrics separately as the technology is now embedded across engagements.
Motilal Oswal said margins will be key as the industry transitions to outcome-based pricing. It expects AI services demand to pick up from mid-2026 as hardware-led AI capex moderates, with the March–April 2026 budget reset offering early signals.
Meanwhile, the Nifty IT index has rebounded 7.5% over the past month, rising in five of the last six sessions and trimming its 2025 losses to 10.5%.
What is an ADR?
An American Depositary Receipt allows US investors to buy shares of foreign companies on US exchanges without dealing with overseas markets or currencies.
