External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was better vs expectations</li><li>The revenue guidance for Q1FY26E was disappointing at -3.5 to -1.5% QoQ CC</li><li>Despite a strong increase in order booking and large deal wins, Wipro highlighted that clients have become more cautious due to global economic uncertainty and recent tariff announcements</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was better vs expectationsThe revenue guidance for Q1FY26E was disappointing at -3.5 to -1.5% QoQ CCDespite a strong increase in order booking and large deal wins, Wipro highlighted that clients have become more cautious due to global economic uncertainty and recent tariff announcementsContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro - Weak Guidance Amidst Economic Uncertainty

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Thematic (Sector/Industry)

<ul>
<li>India-UK FTA negotiations officially concluded May 6, 2025, securing tariff-free UK market access for many Indian goods.</li>
<li>Eliminating UK duties boosts Indian textile competitiveness significantly and improves mobility for service professionals, driving trade growth.</li>
<li>Increases optimism for Indian textile, IT, and export-focused stocks as the FTA unlocks substantial new opportunities.</li>
</ul>


India-UK FTA negotiations officially concluded May 6, 2025, securing tariff-free UK market access for many Indian goods.
Eliminating UK duties boosts Indian textile competitiveness significantly and improves mobility for service professionals, driving trade growth.
Increases optimism for Indian textile, IT, and export-focused stocks as the FTA unlocks substantial new opportunities.


India-UK FTA: Early Thoughts on Trade and Opportunity

APAC IPOs & Placements, Aequitas Research

Akshat Shah

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Niva Bupa Health Insurance / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/niva-bupa-health-insurance" target="_blank" data-smartkarma-citation="entities:43716:1" rel="noopener">Niva Bupa Health Insurance (1226871D IN)</a> (Niva Bupa) raised around US$260m in its India IPO in Nov 2024. The lockup on its pre-IPO investors is set to expire soon.</li>
<li>Niva Bupa is a health insurance firm. Its portfolio consists of health (including retail and group), personal accident, and travel insurance.</li>
<li>In this note, we will talk about the lockup dynamics, possible placement and updates since our last note.</li>
</ul>



Niva Bupa Health Insurance (1226871D IN) (Niva Bupa) raised around US$260m in its India IPO in Nov 2024. The lockup on its pre-IPO investors is set to expire soon.
Niva Bupa is a health insurance firm. Its portfolio consists of health (including retail and group), personal accident, and travel insurance.
In this note, we will talk about the lockup dynamics, possible placement and updates since our last note.


Niva Bupa Health Insurance IPO Lockup-Bunch of PE Investors Could Pare Around US$500m Worth of Stock

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.</li><li>It posted an order intake of USD3.5b (down 1.3% QoQ), with a large deal TCV of USD0.96b (down 35% QoQ).</li><li>EBIT margin of IT Services was 17.5% (est.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.It posted an order intake of USD3.5b (down 1.3% QoQ), with a large deal TCV of USD0.96b (down 35% QoQ).EBIT margin of IT Services was 17.5% (est.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>The operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs impact during the quarter.</li><li>The gaining operational strength is attributed to the internal measures coupled with improving spending sentiment on the discretionary areas.</li><li>The spending environment looks promising in BFSI and Healthcare, especially in the Americas region, while other verticals and geographies are progressing to achieve a steady state.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

The operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs impact during the quarter.The gaining operational strength is attributed to the internal measures coupled with improving spending sentiment on the discretionary areas.The spending environment looks promising in BFSI and Healthcare, especially in the Americas region, while other verticals and geographies are progressing to achieve a steady state.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Wipro (WPRO IN) - Strong Beat on Margins…

India

Wipro Limited specializes in IT and computer related technologies. The Group's services encompass a number of areas, including software architecture, business intelligence systems, e-commerce, data warehousing, Internet access devices, network management, system administration, messaging systems, IT consulting and design. Wipro also has a presence in niche markets of consumer products.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Wipro Ltd (WPRO IN)

Wipro - Weak Guidance Amidst Economic Uncertainty

Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was...

HDFC Securities

India-UK FTA: Early Thoughts on Trade and Opportunity

India and UK finalize FTA, granting tariff-free access for Indian goods, boosting textile and service sectors, and sparking optimism for export...

Nimish Maheshwari

Niva Bupa Health Insurance IPO Lockup-Bunch of PE Investors Could Pare Around US$500m Worth of Stock

Niva Bupa Health Insurance raised around US$260m in its India IPO in Nov 2024. Its six-month lockup will expire on 12th May 2025.

Akshat Shah

Wipro - Steady with Little Surprises

Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.

Motilal Oswal

Wipro (WPRO IN) - Strong Beat on Margins…

The operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs...

Prabhudas Lilladhar

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Wipro - Weak Guidance Amidst Economic Uncertainty

Wipro (WPRO) posted a revenue decline of 0.8% QoQ CC, which was towards the lower end of the guidance, while the IT services margin at 17.5% was...

HDFC Securities

India-UK FTA: Early Thoughts on Trade and Opportunity

​India and UK finalize FTA, granting tariff-free access for Indian goods, boosting textile and service sectors, and sparking optimism for export...

Nimish Maheshwari

Niva Bupa Health Insurance IPO Lockup-Bunch of PE Investors Could Pare Around US$500m Worth of Stock

Niva Bupa Health Insurance raised around US$260m in its India IPO in Nov 2024. Its six-month lockup will expire on 12th May 2025.

Akshat Shah

Wipro - Steady with Little Surprises

Wipro (WPRO) reported 3QFY25 IT Services revenue of USD2.6b (0.1% QoQ) in constant currency (CC), above our estimate of a 1.0% QoQ decline.

Motilal Oswal

Wipro (WPRO IN) - Strong Beat on Margins…

The operating performance witnessed notable improvement in 3Q, the intensity of decline within certain pockets has receded despite having furloughs...

Prabhudas Lilladhar

India and UK finalize FTA, granting tariff-free access for Indian goods, boosting textile and service sectors, and sparking optimism for export...