PRE-MARKET INDIAN STOCKS NEWS: India tech-related firms including Wipro, TCS and Infosys are pressured pre-market

India's tech-related firms are facing pressure pre-market following mixed earnings results, with Wipro, TCS, and Infosys likely impacted.

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Asahi Kasei (3407 JT) 9-month (JPY) net rose 22.7% Y/Y to 120.6bln, rev. was flat Y/Y at 2.26tln

[MARKET UPDATE] Indian tech stocks follow suit to the recent global tech woes with software heavily companies pressured and the NIFTY IT Index sliding lower by around 6%

PRE-MARKET INDIAN STOCKS NEWS: India tech-related firms including Wipro, TCS and Infosys are pressured pre-market

[MARKET ANALYSIS] Asia-Pac stocks trade mixed as the region partially shrugs off tech sell-off stateside

NVIDIA (NVDA) AI chip sales to China were reportedly stalled by US security review, according to FT

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Aditya Birla Capital (ABCAP IS) - Co. Q3 (INR) consolidated profit rose 41% Y/Y to 9.8bln, rev. rose 30% Y/Y to 141.8bln. (Moneycontrol)

Bajaj Finance (BAF IS) - Co. Q3 (INR) consolidated profit fell 6% Y/Y to 40.7bln, NII rose 21% Y/Y to 113.2bln. (Moneycontrol)

Castrol India (CSTRL IS) - Co. Q3 (INR) profit fell 9.8% Y/Y to 2.4bln, rev. rose 6.4% Y/Y to 14.4bln. (Moneycontrol)

Other News - India regulator is mulling a supervision revamp for banks to curb risk. (Newswires)

Context

While some companies like Aditya Birla Capital reported strong profit growth, others like Bajaj Finance faced a decline in profit despite revenue increases, indicating mixed sector sentiment. This divergence in results may influence overall market sentiment, particularly in the tech sector, as investors assess growth prospects amid potential regulatory changes.

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