Cyient's Q1FY18 revenue, unchanged QoQ in US$, was in line with our forecast. The services business continued to fire, +3.2% QoQ in US$, and the DLM business saw a QoQ decline. However, the EBIT margin and EPS decline was a miss. Cyient has maintained its FY18 outlook with a double digit growth for the services business, 20%+ growth in DLM and operating margin improvement of 50bps YoY. We expect improvement from Q2FY18 and largely maintain our forecast FY17-19E...