Accenture shares tank 11% despite beating Q3 revenue estimates. Infosys ADRs fall 3%

Accenture’s shares plummeted despite exceeding third-quarter revenue expectations, driven by AI-related service demand. The company faces challenges from reduced U.S. federal contracts. Consequently, Indian IT ADRs like Infosys also declined, while domestic IT stocks showed mixed performance, with gains in tier-2 companies and HCL Technologies, contrasting with losses in Infosys and LTIMindtree.

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