Infosys Rides Tech Spending Strength

SAN FRANCISCO -- Investors are showing renewed enthusiasm for one of India's flagship tech services giants, Infosys (INFY Quote), ahead of what is expected to be a strong earnings report late Wednesday.

The company's shares recently climbed about 1.5% to $54.86, on top of a gain of more than 3% Tuesday, as traders turned their focus to strong demand for tech support services, rather than profit headwinds like India's appreciating currency.

Early indications suggest that spending on IT services remains healthy. In late September, Accenture(ACN Quote) reported 23% revenue growth, in local currency terms. Robust sales growth in Europe gave investors hope that these regions can help offset an economic slowdown in the U.S., outsourcers' largest market. IT service providers have also indicated that they have been able to phase in price increases. ...