weakness reported last quarter. Although we believe the tariff-related headwinds are yet to get fully captured into 4Q operations, earlier weakness in selective pockets along with anticipated ramp-down for a few, would impact exit rates for a few IT names (PL coverage universe). Similarly, the softness in revenue growth should make it difficult to pull up margins, while making it even more difficult for companies having residual/partial impact of compensation EUR, GBP and AUD have weakened against USD by 1.4%, 1.8% and 3.7% QoQ,...