Mumbai, Dec. 5: Shares of information technology (IT) firms took a hit today after Cognizant Technology Solutions indicated it might grow at a slower rate next year.

The announcement by Cognizant aroused fears of a slower growth in all Indian IT companies in the next fiscal. This led to shares of Infosys and Wipro ending in the red.

The Infosys scrip hit a low of Rs 2,369 on the Bombay Stock Exchange before settling at Rs 2,382.30, down 1.93 per cent over its previous close.

Wipro shares fell 1.83 per cent to end at Rs 381.

In a filing with the US Securities and Exchange Commission (SEC) on Tuesday, Cognizant said its top executives would receive 100 per cent of their performance-based stock options only if the company achieved 16 per cent revenue growth in 2013.

These executives include CEO Francisco D’Souza, president Gordon J. Coburn, group chief executive of industries and markets Rajeev Mehta, group chief executive (technology and operations) Ramakrishnan Chandrasekaran, CFO Karen McLoughlin and senior vice-president Steven Schwartz.

Cognizant said it would pay these executives 100 per cent of their stock-linked incentives next year if revenues grew to $8.515 billion, up 16 per cent over this year. This projection is, however, lower than the 20 per cent growth, or revenue of $7.34 billion, expected this year.