Cognizant's growth estimate affects other IT companies

Cognizant, was expecting to grow by 16 % in 2013, which made other Technology stocks took a beating on Wednesday on news that the sector’s poster boy. The market has been building in optimistic growth estimates for FY14, after a rather lacklustre show by many players so far. So, Cognizant’s regulatory filings in the US, indicating a revenue growth of 16 %, have affected many. The BSE IT Index fell significantly to 1.22 %.
Cognizant has grown at 20 % in these challenging times therefore

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