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Markets   are gearing up for the outcome of Assembly elections in five states – Tamil Nadu, Kerala, West Bengal, Assam and Puducherry – scheduled for May 19. Though an unfavourable outcome for the Narendra Modi-led National Democratic Alliance (NDA) could trigger a knee-jerk reaction in the markets, analysts rule out a significant correction from the current levels. LIVE BLOG:  In 2 days, you will know the people's verdict: Jayalalithaa Factors like the progress of monsoon, corporate earnings, inflation trajectory and the Reserve Bank of India (RBI)’s stance on policy rates will be key in determining market direction over the next few weeks, they say. Also Read:  Kerala assembly elections : Will BJP make inroads this time? “The markets could see a negative knee-jerk reaction and come under pressure in the short-run in case the NDA were to lose in Assam, the only state where it hopes to win. Even then, I do not expect the Nifty50 index to slip below 7,500 lev...

IT services major, Wipro, reported a 2% rise in profits to Rs 2,243 crore for the third quarter, while revenue grew 7.23% to Rs 12,860 crore. Wipro, the third largest IT services firm, showed IT services revenue grew sequentially or over the previous quarter by 0.3% to $1.84 billion, meeting its forecast and analyst expectations. Operating margins, calculated as sales minus costs, stood at 20.2%, which was impacted marginally due to spending on backup plans during the Chennai floods. The company had reported profits of Rs 2,203 crore on revenues of Rs 11,992 crore in the October to December quarter in 2014.  Read Articles