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"Given the kind of global dynamics that we are seeing right now, we are going to see much higher numbers going ahead and we have to be absolutely ready for that. It does not warrant a policy response at this point in time. "

Analysts expect the company to report 7-7.1 per cent growth in consolidated revenues in constant currency terms for the September quarter aided by a ramp-up in large deal wins in the previous quarter, and benefits from the acquisition of Capco.

The company’s board approved the formation of a new subsidiary that will undertake the electric business in India as the company gears up for competition with Tesla.

Nifty50 formed a bullish candle on the daily chart, but negated the higher highs it was making since the last three sessions.

September quarter shareholding data published by National Aluminium Company (Nalco) showed Jhunjhunwala picked a significant minority stake in the company during the quarter, making it his latest pick.

The brokerage, in particular, was bullish about Vedanta’s prospects as it upgraded the stock to “overweight” and raised its price target by 36 per cent indicating sharp gains ahead for the company in coming quarters.

All sectors saw buying except IT that continued to fall. However, gains were limited in the benchmark indices.

RBI’s decision to set the cutoff rate at a recent reverse repo auction at 3.99 per cent -- just below the benchmark policy repo rate of 4.00 per cent -- also stoked speculation that the central bank was looking to realign money market rates to the repo rate rather that the reverse repo rate of 3.35 per cent.

The IPO is entirely an offer for sale (OFS) of shares worth up to Rs 688 crore by Evergraph Holdings and shares aggregating up to Rs 112 crore by KA Joseph, according to the DRHP.

Nifty50 formed a bullish candle on the daily timeframe chart with a long lower shadow, indicating buying on every small decline.