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Musk said in a tweet on Thursday that there are "no further TSLA sales planned after today". He sold about 9.6 million shares this week, according to the filings on Thursday and Friday, equating to 5.6% of his stake in the company.

“Development of a vibrant corporate bond market in India remains crucial for meeting the financing requirement of corporates and the infrastructure sector and thereby achieving India’s growth aspiration,” said the report released on Friday.

While the industry players see this move as one of the most controversial provisions over the crypto taxations, the government believes that the new TDS mechanism is used to trace transactions and prevent tax evasion.

NMDC closed down over 1 per cent. National Aluminium, and Welspun Corps were other big losers of the day. Nifty Metal eventually ended down 0.55 per cent.

The Bengaluru-headquartered company reported Rs 588 crore in revenues and Rs 61 crore in net profit in the Jan-March 2022 quarter.

“In Q1, companies will probably see the largest margin pressure in 16-18 quarters. The situation should significantly ease from Q2 onwards as we see some of the supply chain getting eased out and we see price hikes being passed on over a slight delay of a quarter or so. So, yes, Q1 will probably see the worst margins across sectors.”

The Bengaluru-based company forecast a 1-3% growth for its IT services business for the ongoing quarter which began in April, and double-digit growth during FY23

A Bearish Engulfing pattern, having placed within a broader range movement, is less of a significance, said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.

The company expects revenue from its IT Services business to be in the range of $2,748 million to $2,803million in the June 2022 quarter. This translates to a sequential growth of 1 per cent to 3 per cent.

“The startups have to make sure while going for an IPO to leave enough on the table for the incoming investors while at the same time not short charge the current shareholders. It is a fine dividing line. Also, corporate governance is important for everyone including start-ups. It is never too early to be well governed.”