IIP

IIP came in at 7.1% on a low base vs expectation of 2.6%. But CPI was way below estimates thus its anticipated that Inflation is cooling off globally as Gas prices in Europe has also corrected sharply below the Russia Invasion levels. So overall Interest rates raise might top out here. Feb Hike by U.S might not be steep & RBI too may not hike Interest rates. Recession in U.S is not expected to be sharp & Europe is returning to normalcy as per the IT results so far. The Auto sector is also gung ho over the demand & the orderbook barring Europe. $Tata Motors Ltd. expects to be a one stop shop for #electricvehicle Thus we may soon see mkts behaving rationally, however any tweak in direct taxes in budget on the upside may however lead the mkts to correction. Thus #budget in Feb will be the key to watch out for. However we believe long term Infra & logistics growth with digitalisation & ease of doing business & make in India to make India be a 10 trillion dollar Economy. Check out our Finance Minister & Prime minister roadmap for India's growth with facts & figures. India has received record breaking FDI & China+1 & Europe +1 is helping India greatly.

RBI May Lower Inflation Forecast By 50 Basis Points, Says Citi

India’s central bank may lower its near-term consumer inflation forecast by as much as a half point after inflation fell in November and December, Citigroup Inc. said in a note. Though headline inflation has softened, the Reserve Bank of India may still have to contend with sticky core inflation, which has hovered around 6% for 15 months, Citi economists Samiran Chakraborty and Baqar M Zaidi wrote in a note released on Thursday. Lower-than-expected retail inflation in November and December “could lead to 40-50 basis points downward revision in RBI’s inflation forecast,” the Citi economists wrote. Consumer price inflation cooled to 5.72% in December, compared to a consensus that it would remain the same as November’s 5.90%. India’s central bank had forecast inflation at 5.9% in the January-March quarter and 5% in the April-June period, assuming a normal monsoon season and oil prices at $100 a barrel. “The risk of Mar-2023 quarter inflation being above 6% are materially low now,” the Citi economists said. However, they wrote that “all core inflationary measures remained well above-6%. In fact, inflation was above-6% for items weighing 56% of the CPI basket in Dec. 22 – this number has remained unchanged for last five-months.” Citi still expects a rate increase of another 25 basis points in February, when the RBI holds its next monetary policy review.

WIPRO

WIPRO: Q3 CONS NET PROFIT 30.53B RUPEES VS 26.59B (QOQ); 29.69B (YOY) REVENUE 232.29B RUPEES VS 225.39B (QOQ); 203.14B (YOY) EBIT 36.27B RUPEES VS 31.37B (QOQ) EBIT MARGIN 15.61% VS 13.92% (QOQ) CO DECLARED AN INTERIM DIVIDEND OF RUPEES 1 PER EQUITY SHARE

L&T Technology Services

L&T Technology Services (LTTS) to acquire L&T’s Smart World & Communication (SWC) Business SWC has a strong expertise in communications with network design, planning, implementation, and management of Network Operations Center (NOC), Operational Support Systems (OSS), Datacenters, Cloud/private 5G networks at more than 25,000 locations across India. SWC also has capabilities around public safety, smart cities, and smart metering for utilities. In Cybersecurity, SWC has Full Lifecycle Threat Management capabilities, with offerings in risk assessment, threat monitoring, security architecture, design, and DevSecOps. SWC cater to the demands in smart cities, smart utilities, and digital infrastructure. Over the years, it has touched 150+ million urban lives, running 25+ smart city operation centers, connecting 2 million assets and business applications encompassing the areas of end-to-end communications, city surveillance and intelligent traffic management system for the Central Govt, multiple State Govts as well as various enterprises. It has an employee base of over 700 engineers from diversified technology domains and has crossed an annual revenue of INR 1,000 Crores.

AMFI has updated the list of stocks that are classified as Large-, Mid- and Small-caps (Jan-2023 onwards)

These are defined by SEBI as follows in terms of market capitalization - 🐘- Large-cap: 1st -100th 🐎- Mid-cap: 101st - 250th 🐦- Small-cap: 251st onwards Here are details of companies shifting categories this time: - Mid Cap to Large Cap ⬆️ - Large Cap to Mid Cap ⬇️ 👇👇👇 Midcap TO Largecap ⬆️⬆️ 7 Mid-Cap Stocks have now become Large-Cap as per AMFI’s New List - Varun Beverages - ABB India - Page Industries - Tata Elxsi - Bosch - Trent - PI Industries Largecap TO Midcap ⬇️⬇️ 7 Large-Cap Stocks have now become Mid-Cap as per AMFI’s New List - Muthoot Finance - One97 Communication (PayTM) - Bandhan Bank - Mphasis - Gland Pharma - Piramal Enterprises.

Infosys

The company has guided for 16%-16.5% revenue growth in the fiscal ending March 31, compared to 15%-16% projected at the end of the September quarter, and 14-16% at the end of the June quarter. The attrition rate eased to 24.3% in the October-December period, as compared to 27.1% in the previous three months. The headcount increased by a net 1,627 to 3,46,845. "Our revenue growth was strong in the quarter, with both digital business and core services growing. This is a clear reflection of our deep client relevance, industry-leading digital capabilities and unrelenting dedication of our employees," Salil Parekh, chief executive at Infosys, said. "As reflected in the large deals momentum, we continue to gain market share as a trusted transformation and operational part for our clients. Infosys' digital services accounted for 62.9% of total revenue, clocking an annual constant-currency growth of 21.7%. While operational profitability of the Bengaluru-based IT firm remained stable over the previous three-month period, it declined 2% annually. "Operating margins in Q3 remained resilient due to cost optimisation benefits, which offset the impact of seasonal weakness," Nilanjan Roy, chief financial officer at Infosys, said in the statement. “Attrition reduced meaningfully during the quarter and is expected to decline further in the near-term." The company has retained its profitability margin at 21-22% for FY23. *Business Performance* According to Infosys' factsheet on its December quarter results, the BFSI segment accounted for the highest share of overall revenue. That was followed by retail, communications, manufacturing and hi-tech. Geographically speaking, North America brought in more than 60% of Infosys' revenue. Europe accounted for more than a quarter. As on Dec. 31, Infosys had 1,850 clients, including 134 new deals struck in the third quarter. The top 25 clients contribute more than 35% of the company's overall revenue. The company, at present, has nearly 1,000 million-dollar clients. The company had a free cash flow of Rs 4,741 crore, as on Dec. 31, compared to Rs 4,752 crore on Sept. 30.

U.S. CPI Inflation y/y

Current: 6.5% Expected: 6.5% Previous: 7.1% (Data seen inline with estimates) *U.S. Core CPI Inflation m/m:* Current: 0.3% Expected: 0.3% Previous: 0.2%