Mindtree posted in-line revenue in 2QFY19, which stood at US$246.2mn (+2.4% QoQ in CC terms, 2% USD terms, below our estimate by 0.6%). From vertical perspective, Travel & Hospitality (+7.5% QoQ USD terms) was the out-performer, with Mindtree winning its largest-ever deal in this vertical. Hi-tech & Media (+3.1% QoQ) and BFSI (+2.3% QoQ) also grew ahead of company average. A negative was de-growth witnessed in MFG, CPG & Retail vertical (-3.8% QoQ) owing...