TCS reported 3QFY18 revenue growth broadly in-line with the moderated expectations; outlook was sanguine with a strong deal closure during the quarter + a healthy pipeline. Still, we expect FY19 USD revenue growth could remain in the 7-8% band, same as FY18, given the continued softness in BFS vertical (c25% of revenues, JMFe). Further, the profile of the incremental revenues + a strong INR should keep the margins around current levels. Thus, our operative assumptions and forecasts are largely unchanged; changes in the US taxation...