Cognizant Technology Solutions earnings spur TCS, Infosys, Wipro shares

May 08 2013, 16:23 IST
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SummaryResults confirm revenues of Indian software services exporters continue to outperform.

India's software services exporters gain, with Infosys Ltd up 0.4 percent, Tata Consultancy Services (TCS) 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.

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