Dec 06, 2012, 12.25 PM | Source: Reuters
Indian technology shares fall for a second day, with Cognizant's SEC filing clouding revenue outlook for the sector.
Cognizant Technology Solutions Corp
The filing implies that CY13 growth would be lower than the company's outlook for CY12.
"Based on historical trends, Cognizant's annual guidance corresponds with revenue growth corresponding to 100 percent of performance units," IDFC said in a note.
Barclays Capital, however, feels that while Cognizant may see a slowdown, it does not pose an incremental risk to Barclays' FY14 growth forecasts of 15 percent for TCS and 13 percent for HCL Tech.
"Cognizant's growth premium to Indian IT vendors has diminished in the past two years due to its larger revenue and growth base," Barclays Capital said in a note.
An additional negative may come from the rupee. Credit Agricole believes the government winning the vote on foreign direct investment in multi-brand retail will continue to help rupee. It expects the rupee could rise to 52 per dollar by end 2013.
After meeting TCS management, CLSA is bullish on t
TCS earned the top position on the 2016 IDC Financ
While TCS, RIL, HDFC Bank, HDFC, ONGC and Coal Ind
Preferred play is HCL Technologies where there app
Speaking to CNBC-TV18 Adrian Lim, Senior Investmen