All eyes will be on Wipro on Tuesday as the IT major reports its FY19 March quarter results. Analysts expect the company to report 1-1.5 per cent quarter-on-quarter (QoQ) growth in revenues in constant currency (CC) terms, in line with the company’s 0-2 per cent guidance for the quarter.
Wipro’s board will also consider a buyback proposal worth Rs 12,000 crore, for which it recently received approval from SEBI.
On the global front, reports said that America could stop insisting China ended industrial subsidies that gave weight to the optimism that Washington and Beijing could reach a trade truce.
The domestic equity market ended in the positive territory on Monday. The S&P BSE Sensex gained 139 points or 0.36 per cent to settle at 38,906 while the broader Nifty50 index of the National Stock Exchange (NSE) ended at 11,690, up 47 points or 0.40 per cent.
Asian stocks hovered below a nine-month peak on Tuesday after disappointing bank earnings dented Wall Street, though recent signs the global economy is likely to avoid a sharper downturn helped limit the losses.
MSCI’s broadest index of Asia-Pacific shares outside Japan stood little changed. Japan’s Nikkei nudged up 0.25 per cent.
STOCKS TO WATCH
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