Indian IT stocks were seen rising as Accenture has raised the revenue guidance.
Large-cap IT stocks such as Infosys, Tata Consultancy Services were seen rising.
Global rival Accenture PLC has raised the revenue growth forecast for the second time.
This bodes well for Indian IT players as they will be the key beneficiaries of sustainable demand, given the cost pressures faced by clients particularly in Europe, says Edelweiss.
1-year forward P/E
Accenture 18.2x
Infosys 19.3x
TCS 20.8x
Wipro 17.3x
Source: Thomson Reuters Eikon