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Bitcoin, the largest cryptocurrency by total market value, managed to bounce in the Asia session and traded at $30,300 at 0623 GMT, up 5%. It has staged something of a recovery from a 16-month low of around $25,400 reached on Thursday.

"Fear and loathing suggest stocks prone to imminent bear market rally but we do not think ultimate lows have been reached", the team led by Chief Investment Strategist Michael Hartnett argued.

“We are looking at how to co-create innovation through ecosystem partners. We are looking at automation. We are looking at solution accelerators. Of course, we have been doing these things over a period of time but we continue to focus on them and enhance them so that the products and services remain differentiated and we end up creating more and more value for our clients.”

The brokerage in its coverage initiation report late last month said in a highly fragmented market, we believe RateGain Tech is well placed to increase its wallet share versus peers, as well as, in-house technology teams of enterprise customers, given its relationships with marquee clients, cross-selling opportunities, and innovative products.

According to the data from BSE, investors bid for 3,45,34,178 equity shares or 9.72 times by 2 pm compared to the 35,51,914 equity shares offered for the subscription.

“The EPC business will continue to grow in the 11-13% range. From Rs 110,000 crore, it will go to Rs 1,90,000-2,00,000 crore by 2026. The manufacturing and hi-tech precision manufacturing business will continue to grow between 12% and 15%. crore. The service businesses are LTI, Mindtree and LTTS, which are in the region of $4.2 billion and will double to nearly $8-9 billion. ”

“It is very important to put things into perspective and not forget that this is only a 15% healthy correction and it is not something that is unexpected by market participants. It should happen just to flush out excesses every now and then. Last 2 years, utilities, resources, metals, oil and gas and IT picked up the slack and helped to create very strong value for investors. ”

"Regional space has been booming and it remains untapped to its full potential. There’s a substantial investment we are making across all leading Indian languages. We are aggressively acquiring film and non-film music across Telugu, Tamil, Malayalam, Bengali, Bhojpuri, Punjabi and Gujarati. This will be further extended to 3 more languages this year."

According to national accounts statistics, the Compensation of Employees to GDP ratio for the private sector registered a sharp increase from 9.2 per cent in FY12 to 12.4 per cent in FY21, the brokerage said, adding that the nominal COE in the private sector stood at Rs 24.5 lakh crore in 2020-21 (Apr-Mar).

The company has reserved 75 per cent of the net offer for qualified institutional buyers (QIBs), whereas non institutional buyers (NIIs) will get 15 per cent allocation. Remaining 10 per cent shares will be given to retail bidders.