Background: HCL Tech is the 4th largest IT services exporter offering offshore IT Services with revenues of INR 311.36bn (9MFY16). In 3QFY16: Revenue split, Americas: 62.5%, Europe: 28.4% & ROW: 9.1%. Service Mix: Application development & maintenance: 39.9%, Infrastructure Services: 36.2%, Engineering and R&D; services: 18.7% business process management: 5.2%. Fixed price contracts account for 56.8%, while time and material 43.20%. Major verticals are Manufacturing: 31.4%, Financial Services: 25.0%, Healthcare: 12.8%, Retail and CPG: 9.2%, Media: 9.90%, Public Services: 11.1% & others: 0.5%. Company...