• Larsen & Toubro: Misses FY20 order inflow guidance. No revenue or order inflow guidance given for FY21. Higher employee expenses impact margins. Net profit falls 6.5% while revenue rises 2.2%. Order inflow during the quarter up 5% while consolidated order book up 4%.
• Vedanta: Reports first net loss since Q1FY12. Exceptional loss of Rs 17,132 crore. Deferred tax credit of Rs 6,524 crore. Lower volumes and commodity prices, increased operational costs at its zinc and oil & gas subsidiaries impact operating performance. Ebitda fall 26% while margin narrows to 23% from 26.1%
• Reliance Industries: Silver Lake and its co-investors will invest an additional Rs 4,547 crore in Jio Platforms, increasing its total stake in the company to 2.08% of the total equity or Rs 10,202 crore. Abu Dhabi Investment Authority (ADIA) will also invest a sum of Rs 5,683.5 crore in Jio Platforms, through its wholly-owned subsidiary. The investment values Jio Platforms at an equity value of Rs 4.91 lakh crore. Jio partners has now raised Rs 97,885 crore from leading investors so far.
• Tata Motors: Bloomberg News reports that Jaguar Land Rover has raised a loan of $705 million from Chinese Banks. JLR has also told its suppliers that its Castle Bromwich site in the Midlands will not resume production until August 10 at the earliest and the Halewood SUV plant will re-open on June 8.
• Karnataka Bank: Reports of various frauds to the Reserve Bank of India. It has pegged the fraud from DHFL to be Rs 180.13 crore, for misappropriation and criminal breach of trust and diverion of funds in the credit facilities earlier extended. The fraud from Religare Finvest is Rs 43.4 crore and Leel Electricals is Rs 20.65 crore. The bank has also fully provided for frauds amounting to Rs 41.3 crore for Feeders Electric Engineering.
• Shriram Transport Finance: T Rowe Price increases the stake to 5.36% from 4.77% on June 3.
• Birla Corp: Resumes operations at the Jute mill from June 5. The company says it expects three months to restore to normal production levels.
• Taj GVK Hotels: Expects demand to pick up at a slower pace once the lockdown is lifted.
• Non-Nifty Earnings Today: Inox Leisure, PVR, Abbott India, Chalet Hotels, Coromandel Engineering, Gujarat State Petronet.

For earnings reported after market hours and over the weekend, companies with Covid-19 updated, brokerage views and more, click here.

• Benchmark indices advance, boosted by a strong jobs report
• S&P 500 ended 2.6% higher, posting its third weekly advance
• S&P 500 is now over 40% higher from its March low
• Nasdaq underperformed but still set an intra-day record
• Benchmark indices are close to erasing losses for the year
• U.S. Payrolls unexpectedly rose 2.5 million in May. However, unemployment rate remains at 13.3%
• Yield on the 10-year treasury rose seven basis points to 0.89%
• West Texas Intermediate crude rose 5.2% to $39.36 per barrel. The commodity trades higher today as well.
• Oil posted its sixth weekly advance as OPEC+ reached a tentative agreement to extend the record production cuts.

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