In the near term, the company expects revenue pressure in terms of pricing discount in impacted verticals (like retail, oil& gas, manufacturing), reduction in volume-based billing and deferral of discretionary spend in B2B business. HCL Tech has won 14 transformational deals in Q4FY20, which could see a ramp up in Q2FY21E. Since this is coupled with improved deal wins from Q2FY21E, we expect the company to see an improved revenue trajectory from H2FY21E. In the post Covid-19 world, the company could see improved traction in cloud consumption, cyber securities, automation. In turn, this...