PRE-MARKET INDIAN STOCKS NEWS: Wipro (WPRO IS) Q4 (INR) net fell 1.9% Y/Y to 35.0bln, rev. rose 7.7% Y/Y to 242.4bln
Angel One (ANGELONE IS) - Co. Q4 (INR) net rose 83.5% Y/Y to 3.20bln, rev. rose 38.2% Y/Y to 14.59bln and board approved fund-raising up to INR 15.00bln via NCDs. (Moneycontrol)
Axis Bank (AXSB IS) - Co. said its board will explore fund-raising via issuance of equity shares or other instruments on April 25. (Moneycontrol)
HDFC Life Insurance Company (HDFCLIFE IS) - Co. Q4 (INR) net rose 4.65% Y/Y to 4.98bln, net premium income rose 9% Y/Y to 259.98bln and net commission rose 7.8% Y/Y to 27.85bln. (Moneycontrol)
Rail Vikas Nigam (RVNL IS) - Co. said it has emerged as the lowest bidder for a project worth INR 9.68bln involving construction of the 3rd and 4th railway lines and bridges on an EPC mode. (Moneycontrol)
Wipro (WPRO IS) - Co. Q4 (INR) net fell 1.9% Y/Y to 35.0bln, rev. rose 7.7% Y/Y to 242.4bln, IT services rev. rose 7% Y/Y to 240.17bln, board approved proposal to buy back 600mln shares. (Moneycontrol)
Wipro's Q4 results show a net decline of 1.9% year-over-year, which may raise concerns about profitability amidst revenue growth of 7.7%. The planned buyback of shares highlights confidence in long-term value, although the weaker net income could signal caution among investors. Overall, the mixed results could lead to varied sentiment in the tech sector and influence market positioning for Indian equities today.