uncertainty driven by the hostile acquisition process which we already saw in contraction of new deal wins. Mindtree also has a higher exposure to discretionary spending which have short durations and requires strong communication with the clients hence making people continuity more important. We believe managing people aspects & cultural integration is critical in any acquisition process. We expect 7.9% & 8.4% USD revenue & EPS CAGR for FY19E-FY21E respectively & value MTCL at 14x Mar-21 earnings to arrive at target price of Rs.755. Stock...