Accenture’s latest results did more than beat Wall Street’s estimates. They threw the spotlight straight onto India’s $250-billion IT services industry . The global giant reported $17.6 billion in revenue for the fourth quarter of FY25, at the upper end of guidance, with new bookings of $21.3 billion and a record $1.8 billion in generative AI deals for the quarter. However, loss of US Federal Government business shaved 20 basis points off annual growth and 150 basis points off Q4 growth. What does it mean for the Indian IT sector? Brokerages highlighted key concern areas.

Three research notes released by Nuvama Institutional Equities , JM Financial, and Nomura offered a concerted opinion. All three agreed on a few essentials:

-Demand for IT services remains steady rather than booming

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