• Bharti Infratel: Extends long stop date for Indus Towers deal till August 31. Board said that conditions precedent to be fulfilled for the Indus Tower merger to become effective cannot be completed by June 24. Each party retains the right to terminate and withdraw from the scheme.
• Reliance Industries: CCI approves acquisition of 9.99% stake in Jio Platforms by Facebook’s arm Jaadhu Holdings.
• BPCL: To raise Rs 3,000 crore during fiscal 2021 via NCDs.
• Andhra Paper: Promoter International Paper Investments to sell 39.77 lakh shares (10% equity) through an offer for sale (OFS), with an option to sell an additional 28.64 lakh shares (7.2% equity). Floor price for the same is set at Rs 186 per share, a 20% discount to Wednesday's closing price. On use of the oversubscription option, the stake of International Papers Investments can come down to 2.8% from 20%. Trade date for non-retail investors is June 25 and for retail investors it is June 26.
• Page Industries' Covid-19 Impact: Operations at all 15 manufacturing facilities resumed on different dates starting May 4. Response from the market has been healthy. Expect momentum to accelerate in the coming quarters as restrictions get lifted in the market.
• Non-Nifty Earnings Today: Apollo Hospitals, Somany Ceramics, Hindustan Aeronautics, TTK Prestige, Ashok Leyland, Bank of India, Container Corporation of India, Endurance Technologies, Engineers India, IDFC, Indian Overseas Bank, V2 Retail.

To know more about the stake sale in Embassy Office Parks REIT, earnings reported after market hours and F&O updates on expiry day, click here.

• Benchmark indices decline as virus cases rise in multiple states
• S&P 500 ended 2.6% lower led by energy, financials and industrials
• The Nasdaq composite snapped a nine-day gaining streak
• Florida and California set new records for daily cases reported
• White House weighs new tariffs worth $3.1 billion on exports from France, Germany, Spain and the U.K.
• IMF downgrades the outlook for the world economy, projecting a significantly deeper recession.
• Yield on the 10-year treasury fell to 0.68%, the lowest in nearly two weeks.
• West Texas Intermediate crude fell 5.5% to $38.16 per barrel. The commodity trades little changed.

Get all the live action from the global equity markets here.

Good Morning!

Indian equity markets may extend their losses for the second day, owing to weak global cues. The benchmarks snapped a four-day gaining streak on Wednesday.

The futures and options contracts for June will also expire on Thursday.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 1.5% to 10,142 as of 7:50 a.m.

Asian markets have opened lower after a weak session on Wall Street. Sentiment is risk-off after a surge in Covid-19 cases across multiple states in the U.S. Markets in Hong Kong and China are shut due to a holiday.

The U.S. dollar is extending gains, while treasuries are holding on to gains overnight. Futures on the Dow Jones are trading lower by 200 points.

West Texas Intermediate crude was flat at $38 per barrel.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.