Investec maintained a “Sell” rating on Wipro, foreseeing limited downside but improved capital allocation. Axis Capital upgraded Infosys to “ADD”, citing growth stability and efficiency gains. Goldman Sachs reiterated a “Sell” on D-Mart due to rising competition and market penetration limitations.
$20 billion of IPOs per year a new normal for India: JP Morgan
Initial public offerings worth USD 20 billion per annum are the “new normal” for India and will become an annualised run rate over the next