Q3FY20 guidance of IT services revenue growth of +0.8% to +2.8% is in-line with our expectation. WPRO expects the QoQ improvement in order-book in Q2FY20 to enable it to drive improvement in growth despite seasonal headwinds. We maintain our FY20/21E revenue. We factor the EBIT margin beat and fine-tune our FY20/21E EPs by 3%/2.7%. We now forecast IT services revenue (in US$) and EPS CAGR of 4.5% and 6.6% respectively over FY19-21E. We upgrade WPRO to ACCUMULATE from HOLD with a new TP of Rs269 (s. Rs260 earlier) based on PER of 15x FY21E. Key Highlights and Investment Rationale...