TCS reported a second consecutive stellar performance in Q3FY21 with a beat across the board vs. our forecast. Revenue grew by 4.1% in CC (best QoQ growth in Q3 in 9 years) and EBIT margin saw a improvement of 40bps QoQ to 26.6% (a 20 quarter high). EPS of Rs23.2 grew by +5.4%/+7.2% QoQ/YoY. In Q3FY21, TCS has secured deals with TCV of US$6.8 bn (excluding the Postbank Systems deal). TCS has maintained its positive outlook and is confident of achieving a double-digit YoY revenue growth in CC for FY22. We factor Q3FY21 beat and increase our FY21/22/23E revenue (US$) by...