HSBC View on IT (Cautious/Neutral)
Accenture read-through suggests:
📉 Growth moderation in Q3FY25 compared to 1HFY25
🎯 FY25 guidance narrowed to 6–7% (previously wider)
📉 Total deal wins down 7% YoY in constant currency (cc)
🔻 Outsourcing bookings showed a sharper decline
👉 Implication:
HSBC believes the results don't provide a strong incremental read-across for Indian IT. Tone appears cautious/neutral.
Accenture read-through suggests:
📉 Growth moderation in Q3FY25 compared to 1HFY25
🎯 FY25 guidance narrowed to 6–7% (previously wider)
📉 Total deal wins down 7% YoY in constant currency (cc)
🔻 Outsourcing bookings showed a sharper decline
👉 Implication:
HSBC believes the results don't provide a strong incremental read-across for Indian IT. Tone appears cautious/neutral.
