Avenue Supermarts, which runs D-Mart stores popular in Western India, will announce its quarterly numbers on Saturday.

“The fear really is not of margin pressures. The fear really is that a lot of companies which have provisioned for or reduced provisions in the last two years could see a lot of their debt going bad if interest rates go up so aggressively as they are likely to. I do not see why anybody in their right mind would look to add banking and financial services stocks at this point.”

LUNA has tanked to merely a few decimal cents from its peak of $118, wiping out 100 per cent wealth of the investors. Overall, the token has wiped out $40 billion from their pockets.

The company said its revenue was at Rs 12,116 crore, up 24.5 per cent against Rs 9,730 crore in the year ago quarter. Ebitda of the company advanced 7.2 per cent to Rs 20,88 crore.

Cryptocurrency prices reached a peak late last year and have since slid as fears over the economy grew.

“There has been an aging of some of the loans. In the last quarter also, loan loss provision was higher and this time around I guess the same thing must have happened because the slippages have been managed quite well by the bank and the NPA figures have also come down.”

Total income of the bank in Q4FY22 rose by 43 per cent to Rs 3,504.2 crore, as against Rs 2,457.4 crore in the same period of FY21, Bandhan Bank said in a regulatory filing.

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.”