Q1FY18 performance by Infosys Ltd was better-than-expected on reported basis, driven by strong pricing gains of 130bps that led to revenue beating expectations. The management commentary is cautiously optimistic across verticals. The company claims it is winning market share and expects uptick in demand in BFSI in H2FY18. Infosys is gaining significantly on its New Services and Software' that collectively accounts for ~10% of revenues and has clocked US$1bn in revenues in the last 3 years (50% of incremental revenues over FY15-17). Focus now shifts to profitability given the declining operating leverage, appreciating INR,...