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The move comes after the company on Tuesday decided to convert its interest on deferred spectrum and adjusted gross revenue (AGR) payments into government equity, giving the government a possible 35.8% stake in the company.

Executives said there is a 10-15% impact on operations of distributors, wholesalers and retailers in the fast-moving consumer goods industry with several people falling sick mostly in the cities where the spread of infection is more.

The dollar headed for its largest weekly fall in eight months on Friday as investors trimmed long positions and deemed, for now, that several U.S. rate hikes this year are fully priced in. In a week where data showed U.S. inflation at its hottest since the early 1980s, selling has forced the greenback through key support against the euro in particular and traders seem content to lighten their bets until a clearer trend emerges.

HCL Tech, Tinplate Company, Onward Technologies, Swasti Vinayaka Synthetics, International Travel House and Gujarat Hotels are among the companies that will announce their December quarter results today.

Domestic equity markets look set for a gap-down start on Friday, tracking weak cues from Asian peers. US stocks dropped sharply lower on Thursday following Fed tapering signals. Back home, traders will be eyeing the result of IT major HCL Technologies.

Oil prices eased for a second session on Friday on growing concerns that Washington may soon act to cool prices, while movement controls in China to rein in a COVID-19 outbreak weighed on fuel demand. Brent crude futures fell 30 cents, or 0.4%, to $84.17 a barrel at 0150 GMT. U.S. West Texas Intermediate crude was down 45 cents, or 0.6%, at $81.67 a barrel.

Several Fed officials spoke publicly about battling high inflation with Lael Brainard the latest, and most senior, U.S. central banker signaling that the Fed was getting ready to start raising rates in March.

Asian shares took a beating on Friday after a fresh salvo of hawkish remarks from Federal Reserve officials solidified expectations that U.S. interest rates could rise as soon as March, leaving markets braced for tighter monetary conditions.

“Fundamentally, post 2018, a lot has changed. Larger banks will continue to drive consolidation as far as the entire banking sector is concerned.”

The global crypto market cap was up by more than 3 per cent to $2.07 trillion mark compared to the last day. The total crypto market volume jumped over 14 per cent to $100.44 billion.