IT ADRs rally on Accenture
Wipro's ADR is rallying violently because a strong earnings forecast from Accenture, a bellwether for Indian IT services demand, lifted sentiment across the sector, pulling up Infosys and Wipro ADRs despite Jefferies' bearish pre-earnings stance.
Sources: https://economictimes.com/markets/us-stocks/wall-street-guide/infosys-wipro-adrs-soar-up-to-8-as-strong
Sources
Ezbrisk weighs each event against the market reaction and publishes a verdict with an overreaction reading. How the methodology works