Maintain NEUTRAL with a TP of Rs 2,570, 17x Sep-19E EPS. TCS uninspiring growth rate (+1.7% QoQ CC) continues to be volume-led (+3.2%), with a high impact of cross-currency on revenue (+1.5% QoQ) and margin (+50bps). Core geography performance was sub-par, impacted by BFSI and Retail & CPG verticals within the space. However, Digital (19.7% of rev) continues to trend strong, contributing 45% to incremental seq. growth. Growth in Legacy provided a respite with 2.2% QoQ, as compared to 0.4/0.7% CQGR in the previous 4/8-quarters.