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IT stocks fall as Cognizant's 2014 outlook dampens sentiments

IT stocks underperformed the broader markets on Thursday tracking Cognizant Technology Solutions' weak revenue guidance for 2014. Cognizant, which reported Q4 results on Wednesday, said it expects annual revenues to grow at 16.5 per cent year-on-year as compared to its 2013 growth rate of 20.4 per cent.
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