MUMBAI: Here are five things to watch out for when Wipro reports its second-quarter results on Wednesday. Revenue Growth and Margins: Analysts expect Wipro to grow 2.5% in reported currency, or 3.5% excluding currency fluctuations, at the higher end of its 1.5-2.5% growth target. Growth for the quarter is expected to receive a slight bump from the acquisition of Designit. The IT firm’s margins could expand slightly as favourable forex movements and operational efficiency mitigate the impact of wage hikes. Guidance for Q3’FY16: Analysts say that Wipro needs to keep its guidance in the 2-4% growth range in constant currency terms if it is to maintain full year growth in the 8-10% range. Cross-town rival Infosys has already signalled that the second half of FY16 could be worse than normal, though Tata Consultancy Services belied those fears. Deal Wins and Order Book: TCS, HCL and Infosys have signalled healthy deal wins and an order book. Similar signs would be expected from Wipro. Analysts are also looking out for commentary on pricing as price pressure in the commoditized businesses is growing. Energy and Utilities: Wipro has a higher exposure to the energy sector at about 5%, compared to the other IT service companies. The sector has seen a massive slowdown on spending as the price of oil crashed. Any commentary on stabilization of this sector will be keenly watched for. Startups and M&A: Wipro has a $100 million fund to invest in startups and has signalled that it would be more active in the M&A market. The street is watching for signs of how the IT firm will deploy its cash pile.