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Wipro is likely to have a subdued third quarter with constant currency revenue expected to be declining and may well be the weakest among the peers.

In the IPO, about 50% of the offer is set aside for qualified institutional buyers (QIB), 35% for retail investors and the remaining 15% for non-institutional investors.

Remarks from senior BOJ officials along with Japanese data that points to persistent price pressure and strong wage growth have helped boost market confidence that a rate shift is in the offing with traders pricing in an 80% chance of a hike next week.

The rate hikes partly helped Jio grow average revenue per user(ARPU) 4.2% on-quarter to ₹203.3. But the full beneficial impact of the price hikes will be staggered, and likely to come through Q4FY25 and Q1FY26, since Jio has a higher share of subscribers on longer-validity plans compared to Bharti Airtel or Vodafone Idea, said analysts.

Mayuresh Joshi emphasizes the importance of selective investing due to inconsistent economic conditions and potential earnings downgrades in India, Hong Kong, and China. He highlights Adani Ports for its strong EPS and potential growth. Regarding Swiggy and Zomato, he notes competition and cash dynamics, suggesting Swiggy might outperform Zomato in the near term.

Infosys reported an 11% YoY growth in net profit to Rs 6,806 crore and an 8% increase in revenue to Rs 41,764 crore. The company raised its revenue guidance to 4.5%-5% for FY25. Infosys saw strong YoY revenue growth, improved operating margins, and significant large deal wins, driven by its digital offerings and AI capabilities.

The Indian market has entered 2025 with a sense of caution, reflecting both domestic and global uncertainties. PL values NIFTY at a 2.5% discount to the 15-year average PE, which is 18.5x compared to the average 19.0x.

Consequently, the market is likely to become more stock-specific and we anticipate that high-valuation sectors may consolidate in the near term if they lack new earnings growth drivers. Nonetheless, we continue to find opportunities across the market.