ADRs Of Infosys, Wipro Trade Lower After Accenture's Earnings Forecast

The American Depositary Receipts of Infosys Ltd. were down by 2.34% and trading at $18.14, while those of rival Wipro Ltd. were down 1.14% and trading at $3.035 (about 12:16 p.m. US time) on Thursday.

ADRs of both Indian information technology service providers were down following the earnings announcement by Accenture Plc.

The US-based company has increased its lower-end forecast for earnings per share and revenue for fiscal 2025.

Accenture now expects its EPS to be in the range of $12.55 to $12.79 per share for fiscal 2025 against its previous expectations of $12.43 to $12.79.

The company added that it anticipates revenue to rise in the range of 5-7% for the period as compared with 4-7% previously.

Shares of Infosys Ltd. had closed on Thursday 1.74% higher at Rs 1,614.15 apiece on the BSE, while that of Wipro Ltd. ended 0.83% down at Rs 267.95 apiece, compared to a 1.19% advance in the benchmark Sensex.

However, Accenture's announcement happened after the Indian stock markets had closed for the day.