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The company has reduced revenue growth guidance for this fiscal from 25 per cent to 12 per cent on an organic basis based on market trends, Happiest Minds Executive Chairman Ashok Soota said.

Wipro cited four reasons behind the merger decision — to consolidate business operations, enable synergies of operations, facilitate a reduction in overheads including administrative, managerial, and other expenditures, ensure an optimised legal entity structure, and to significantly reduce multiplicity of legal and regulatory compliances

R Venkataraman, Chairman and Managing Director, IIFL Securities, said the company reported a strong growth in the quarter with all business segments gaining momentum.

Net interest income of the lender grew 11% to Rs 2,443 crore in the second quarter from Rs 2,193 crore in the same quarter of last year.

High-weightage financials lost 1.3%. Bajaj Finance shed as much as 2.85% and was the top Nifty50 loser. Bajaj Finserv also declined over 2%.Nifty Bank also fell 1.2%. Axis Bank, HDFC Bank, ICICI Bank, IndusInd Bank and Kotak Bank plunged 1-1.5%.

Akhil Mittal, Senior Fund Manager at Tata Asset Management, believes that buying US bonds with elevated interest rates is a good long-term investment. He expects central banks worldwide to push rates higher, resulting in elevated rates for a longer period of time. Mittal suggests looking at long-term durations for investing in US bonds, as shorter durations may lead to reinvestment risks. He advises diversifying 10-20% of a fixed income portfolio into US bonds, with a focus on medium to long durations.

In a day filled with extraordinary market activity, several smallcap stocks achieved a remarkable milestone by reaching new all-time highs on October 18.