MARKET EYE-TCS, Infosys gain after Cognizant earnings

* India's software services exporters gain, with Infosys Ltd
up 0.4 percent, Tata Consultancy Services Ltd
up 3 percent, and Wipro Ltd up 1.2 percent.
* Gains come a day after Cognizant Technology Solutions Corp's
quarterly profit modestly beat estimates, helped by a
rise in demand from Europe.
* The results confirm that revenues of Indian software services
exporters continue to outperform Cognizant's, making the
U.S.-listed IT company still not too much of a competitive
threat, analysts say.
* Barclays says Cognizant's annual guidance "poses no risk" to
its forecasts for Indian IT companies and indicates company's
revenue growth would continue to lag Infosys for another
quarter.

(manoj.dharra@thomsonreuters.com;
manoj.dharra.thomsonreuters.com@reuters.net)