ADRs Of Infosys, Wipro Trade Lower After Accenture's Earnings Forecast
ADRs of Infosys and Wipro were down following the earnings announcement by Accenture Plc.
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.
