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Accenture's (ACN: NYSE) quarterly performance exceeded the consensus estimates and reported at the top-end of the guidance. However, the outsourcing bookings were disappointing (down 6% YoY), which is again coming at the back of weak bookings reported in Q1 (down 4% YoY), partly risking the odds of achieving organic growth in H2. For the Indian IT Service context, the revenue growth was already a challenge, which might get intensified with muted bookings and delayed deal closures. We believe the weakness in consumer sentiment and inflationary tariffs are yet to get fully...
Sustainability has been the buzz word since past few years. Afterall, 2024 stood out as the warmest in the 175-year observational records maintained by World Meteorological Organization. In fact, each of the past ten years were the warmest years on record. The largest three-year loss of glacier mass happened in the past three years. Carbon dioxide levels in the atmosphere are the highest in the last 800,000 years. Among numerous extreme events of rainfall, flood and drought, one of the most notable was heatwave in Saudi Arabia where temperature reached as high as 50C. But sustainability costs. As a result, we have witnessed flip flops by companies (as well as countries). Drill, baby drill has been a classic example. Amidst all this hullabaloo, a recent study does throw credible positive signs on adoption of sustainable products...
Asian markets are trading negative as China's central bank kept interest rates steady, following the US Federal Reserve's decision to hold benchmark rates unchanged overnight. The Nikkei is closed for a holiday, while the Hang Seng and Shanghai indices are down by 1.08% and 0.27%, respectively.
In February, Consumer Price Index (CPI) inflation eased to 3.6%, while Wholesale Price Index (WPI) inflation ticked up to 2.4%. The Manufacturing Purchasing Managers' Index (PMI) decreased compared to the previous month, while Services PMI witnessed a surge.
The unemployment rate rose in February. Foreign institutional investments (FII) and and mutual funds (MF) witnessed outflows during the month. Crude oil prices declined on a MoM basis in February.
