Indian ADRs slide after Accenture lowers revenue guidance

American Depository Receipts of Indian IT stocks fell on Thursday after Accenture Plc lowered its revenue guidance for the fiscal ending Aug 2024. Infosys ADR fell the most by 3.83%, followed by Wipro which saw a decline of over 1%. Accenture revised its revenue forecast downwards, along with a cautionary note regarding reduced IT spending by financial services clients.