TCS 4QFY16 showing justifies our NEUTRAL stance. Expectations were moderate this time, and the IT major barely exceeded them. Therefore, client additions across buckets (3 in US$ 100mn), seven large deal wins, rising digital revenue (15.5% of revenue; grew 52.2% YoY in FY16) and strength in core verticals (BFS) and geography (US) didn?t bring much cheer.