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MARKET EYE-TCS, Infosys gain after Cognizant earnings
February 8, 2013 / 7:52 AM / 5 years ago

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)

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