Against a 7%-9% constant currency (CC) revenue growth for 2019 (with 150bps from acquisitions) that it had guided for when 4Q2018 results were declared, Cognizant Technology Solutions’ (CTS) lowered it to 3.6%-5.1% after a weak 1Q with no material pickup expected in 2HCY2019.
Banks can now declare defaulting accounts of debt-ridden Infrastructure Leasing and Financial Services (IL&FS) and its group companies as non-performing assets, but cannot initiate recovery proceedings.
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