MindTree (MTCL) provided updated guidance for 2QFY17, now expecting sequential revenue decline in USD terms and lower profitability due to cross-currency movements, delayed ramp-ups, project cancellations and weakness in Bluefin. We now expect 2QFY17 revenues and EBITDA margin to decline 0.8% QoQ (v/s earlier estimate of 2% QoQ growth) and 100bp QoQ, respectively (versus earlier estimate of flat EBITDA QoQ at 14.7%). Our FY17 revenue growth estimate is 13.4%, including 4pp from acquisitions, (down from 15.8%). Despite impressive deal wins which validate MTCL's Digital positioning (40% of...