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Although there were favourable domestic indicators, the market was under pressure due to weakness in the US and other Asian markets

“The US market and the western world or even top large IT companies in India are far more subdued. Going by that, we think 40% growth can come down to 35 or 30%. We can keep on estimating that. One key aspect of IT hiring is that when there is a surge, it is a quick sharp rise. At the same time, the decline is also very sharp.”

If signals from the unofficial markets are to be believed, the issue might disappoint the investors with a flat listing at the bourses as the premium has been wiped out completely.According to sources, shares of Fusion Micro Finance are trading at a discount of Rs 5 in the grey market, against its issue price of Rs 368 apiece. The company is likely to make a muted listing on Tuesday.

In the last week, the token lost 60% of its value, and in less than 10 days, the crack is two-third of its value. However, compared to its peak of around $260 about a year back, the token eroded over 95% of its value.On Monday, Solana tumbled to $12.25, its lowest level since February 2021, before recovering to $14.5 at 15.30 hours on Monday, November 11, the data from coinmarketcap suggested.

The Nifty Auto index closed 0.23 per cent up at 13071.4.

The brokerage further iterated that it maintains ‘buy’ on the counter given the pick-up in elective surgeries as well as margins at hospitals through better operating leverage, impending value unlocking through Apollo Health and increase in reach for all verticals through integrated digital platform.

Meanwhile, the sharp fall in the rupee after a firm opening on Monday was likely due to a large Indian conglomerate purchasing dollars, said traders, along with mid-month greenback demand by oil and defence companies.

As part of the merger, all shareholders of Mindtree will be issued shares of LTI in the ratio of 73 shares of LTI for every 100 shares of Mindtree.

Consolidated sales of its consumer business grew by 7% year-on-year, while consolidated EBITDA declined by 15% year-on-year. The consolidated net profit of consumer business also declined by 21% year-on-year.

Thanks to bumper sales in Q2, the overall bond issuances rose to Rs 3.3 lakh crore in the first half, and the agency expects Rs 3.7-4.2 lakh crore sales in H2 FY23, marginally higher than the year-ago period, taking the volume of outstanding bonds to Rs 41-42 lakh crore by March 2023. However, this translates into a muted on-year growth of just 4-5 per cent.