NCC standalone bagged fresh orders worth `60.5bn (up 67.2% YoY) during Q1FY18. Moreover, it has L1 orders worth ~`25-30bn. The standalone order book grew 12.7% YoY/ 26.6% QoQ to `193.1bn (excluding `18.5bn MDO order) as on Q1FY18 providing revenue visibility for 2.4x TTM revenue. Considering sharp surge in order inflow and L1, we upgraded/ maintained...