Strong Q1 results from Accenture have brought Indian IT stocks back into focus after a long phase of underperformance. Accenture reported 6% YoY revenue growth, steady FY26 guidance, and a sharp 76% jump in AI bookings, helping revive global tech sentiment. However, experts remain cautious, noting that discretionary spending remains weak and GenAI adoption is yet to meaningfully lift overall IT budgets, a view echoed by Jefferies. Currency volatility, stretched AI valuations, and global macro ri