Q4FY21 saw another quarter of strong large deal TCV of US$1.4bn (including one deal with potential of US$1 bn) following US$1.2 bn in Q3. Further, along with smaller deals the total TCV of US$7.1 bn for H2FY21 saw a 33% YoY growth. Q1FY22 guidance of IT services revenue growth of +2% to +4% QoQ in CC is a beat to our expectation. We increase our FY22/23 revenue (US$) by 2.4%/2.9% and EPS by 6.5%/6.2%. We increase our TP to Rs485 (vs. Rs415 earlier), now based on 22x FY23E (20x earlier) and...