TECHM's reported a strong revenue growth in Q3FY20, while EBIT margin was a miss. Revenue grew by 4.3% QoQ in CC (5.1% in US$) vs. our forecast of 2.3%. EBIT margin saw a decline of 60bps QoQ to 12.2% vs our forecast of 12.7%. Further, EPS of Rs13.2, +1.9%/-3.2%, QoQ/YoY was aided by higher other income and was a beat. In Q3, TECHM has continued its deal win momentum with net new wins of ~US$1.23bn which includes ~US$1.08 bn from Enterprise segment and ~US$145mn from...