Accenture results

Accenture results—implications for the Indian IT industry.
Recently Accenture reported inline results for 3QFY09. The positive aspect of the result was robust growth and bookings in the outsourcing business; this highlights relatively buoyant market for ‘run the business’ services, a stronghold of Indian IT names.

Implications for Indian IT services companies.

Despite Accenture’s weak albeit in-line revenue performance and another downgrade in FY2009 revenue guidance, one can see incremental positives on the outsourcing business. Outsourcing remains a strong play for Indian IT services companies, a segment which has been relatively buoyant. Infosys and Wipro remain top stocks in the sector.