Indian IT stocks had a nice little bump on Friday morning, rising up to 1%. What’s behind the buzz? Accenture’s blowout Q1 results, which seem to have reinvigorated investor confidence in the tech space. Accenture ended Thursday with a solid 7% gain in its stock price, closing at $372.16. The company crushed Wall Street’s revenue estimates, reporting $17.7 billion in Q1 revenue versus the expected $17.12 billion. A year-on-year growth of 8% (in constant currency terms) doesn’t hurt either, especially since it surpassed their guidance range of 2-6%. Accenture analysts credit it to the rising adoption of AI-powered solutions and the ramp-up of large deals in consulting (up 6% YoY). Meanwhile, managed services shone brighter, clocking an impressive 11% YoY growth. Encouraged by this momentum, Accenture bumped its FY25 revenue growth guidance by 100 basis points to a range of 4-7%. So, while the broader market may have its ups and downs, Indian IT seems to be surfing the AI and digital transformation wave just fine—for now.