HCL Technologies (HCLT) delivered strong revenue growth (3.5% QoQ CC) in 3QFY21, above our expectation and its guidance, led by stronger than expected seasonality in the Products and Platforms vertical (P&P;, +8.3% QoQ in CC) and continued traction in Mode 2 services (+10.9% QoQ in CC). We expect HCLT to return to mid-teens growth in FY22 (14% YoY in CC USD) as continued strength in P&P; due to improving deal wins and new client additions complements improving demand environment in IT Services and R&D; verticals. The P&P; business should deliver low teen USD revenue...