News for INR/USD (INRUSD)

ICICI Securities maintains a Reduce call on Wipro, revising the target price to Rs 230 due to a weak Q1FY26 revenue guidance of -3.5% to -1.5% QoQ CC, the weakest ever excluding Covid and GFC quarters. This reflects heightened uncertainty and delays in client decision-making, leading to EPS estimate cuts of 5%/4% for FY26/27E.

Wipro Ltd.’s Q1 FY26 revenue guidance of -3.5% to -1.5% QoQ constant currency is the weakest ever (except Covid and GFC quarters), implying heightened uncertainty in client decision making due to global tariff war. Guidance factors in a pause in large transformation projects, ramp downs and delays in decision making. Large deal wins were strong (+17% YoY), but total bookings were down 4% YoY due to softness in smaller discretionary deals (down 13.4% YoY) in FY25.

Auto stocks face headwinds despite Trump's tariff pause, with many underperforming expectations due to domestic economic concerns and muted Q4FY25 earnings. While some stocks like Eicher and TVS have shown resilience, brokerages anticipate earnings downgrades across the sector due to weak demand and plateauing margin expansion. Experts recommend stock-specific strategies, highlighting Maruti Suzuki, Ashok Leyland, and M&M as potential buys.

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Markets remain unconvinced by recent RBI and Budget measures as growth projections appear unrealistic. Weak corporate earnings, inflation risks, INR depreciation, and overvaluation concerns add to investor skepticism. Rate cuts may be premature, and structural issues require deeper policy action. Without stronger reforms, growth disappointments and capital outflows could continue, impacting equities.

Its inflation targeting mandate does not allow it to do so. Besides, rate easing will exacerbate inflation without addressing structural limits to growth

The RBI is likely to reduce the key interest rate by 25 basis points this week after keeping it on hold for two years, complementing the Union Budget initiatives to push consumption-led demand, though the sliding rupee continues to be a concern. As the retail inflation has remained within the Reserve Bank's comfort zone (less than 6 per cent) for most of the year, the central bank can take rate action to boost growth hit by sluggish consumption, opined experts.

The FY26 Budget is expected to increase capital expenditure by 20% and reduce the fiscal deficit to 4.4% of GDP to boost economic activity and disposable income. Strategic reforms and prudent fiscal policy are crucial for India's sustained growth, with a focus on domestic demand drivers amid global uncertainties.

India Business News: The Union Budget 2025 is poised to announce a 20% increase in capital expenditure to stimulate economic growth and reduce the fiscal deficit to 4.4% o

Q2 has been slower comparatively; however, we expect the base to turn favorable in the coming quarters. We are keeping our annual EPS expectations unchanged.

Nifty and NSE 500 have returned to May 2024 levels. The swearing-in of new US President Donald Trump has introduced policy and geopolitical uncertainties, fueling recent market volatility. Short-term dynamics remain unpredictable, with various factors pushing and pulling the market in different directions, leaving investors bracing for potential swings in the coming weeks.

While the 2024-25 earnings growth of Nifty 50 is expected to grow at a modest rate, recovery is expected with the support of healthy domestic GDP growth rate, decline in interest rates and a stable policy framework. In terms of sectors, experts are positive on infrastructure, chemicals, defence, banks, building materials and defensives (pharma and healthcare, and FMCG).

Indian rupee hits all-time low against US dollar due to global and domestic challenges, experts predict further depreciation.

Amazon (AMZN, Financial) employees in India protested during Blessed Friday by joining the global "Make Amazon Pay " strike. Protests took place across several

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