HCL Technologies' (HCLT) Q3FY20 revenue growth of 2.1%/16.4% QoQ/YoY in CC was inline with our forecast. EBIT margin improvement of ~30bps QoQ to 20% was higher than our forecast of 20%. Further, EPS of Rs11.2, +14.6%/+19.5% was a beat to our forecast aided by other income. HCLT has narrowed its FY20 revenue growth guidance by to 16.5%-17% vs. 15%-17% earlier. The organic growth guidance now stands at 10.5%-11% vs. 10-11% earlier. HCLT has also increased its EBIT margin guidance to 19%-19.5% vs. 18.5%-19.5% earlier. We largely maintain our FY20/21E revenue but increase EBIT margin by ~20bps to...