Infosys ADR zooms 40% in early deal on Friday

Core Insights - Infosys ADR experienced a significant surge of nearly 40% in early trading, with the stock hitting $26.62, an increase of $7.44 or 38.79% on the NYSE, although trading was halted due to volatility [1] - The underlying Infosys stock on the NSE closed at ₹1,638.70, reflecting a modest increase of 0.7% [1] Group 1: Market Reactions - Major IT companies, including TCS, Infosys, Wipro, and HCL Technologies, saw gains following Accenture's quarterly results, which were released after the Indian market closed [2] - Accenture reported Q1-FY2026 earnings with new bookings of $20.9 billion, marking a 12% year-on-year increase in dollars and 10% in local currency [2] Group 2: Accenture's Performance - Accenture's revenues for Q1 of fiscal 2026 reached $18.74 billion, a 6% increase in US dollars and 5% in local currency, aligning with the company's guidance range [3] - Advanced AI revenues for Accenture stood at $1.1 billion, reflecting a substantial year-on-year growth of 120% in dollar terms [3] Group 3: Industry Sentiment - The IT sector is gaining attention due to strong performance indicators from Accenture and positive sentiment surrounding Tata Consultancy Services, which aims to become the largest AI-led technology services firm [4]