In our view, ordering activity has been accelerated in Q3FY22 and is expected to report strong growth in H2FY22. While on tendering front, domestic tender and enquiry pipeline continues to remain strong though some delay is order finalization can be witnessed, especially in state government projects. Traction remains strong from sectors such as data center, railway, metro, pharma, cement, chemical, metal, mining and F&B. On exports front ordering Acc=Accumulate/ UR=Under Review and enquiry pipeline stands strong from regions like Africa, Middle East, US,...