• TCS: Dollar revenue declines 7% while net profit declines 13% as compared to the previous quarter. Lower revenues lead to margins declining to 23.6% from 25.1%. The management expects a gradual recovery over the next two quarters.
• Reliance Industries: Announces start of their JV with BP, named Reliance BP Mobility. It aims to expand to 5,500 sites over the next five years from the current 1,400. It also aims to increase its presence to 45 airports from the current 30 going ahead.
• Punjab National Bank: Board approved raising Rs 10,000 crore by private placement, QIP issue, FPO, rights issue or any combination thereof and seek shareholders nod to raise Rs 7,000 crore via equity.
• Tata Motors: JLR retail sales down 42.4% while June retail sales down 24.9%. JLR says sales in North America and China were encouraging.
• PNB Housing Finance: Plans capital raise of up to Rs 1,700 crore. Retail loans under moratorium phase 2 account for 29% of retail AUM and 39% of overall AUM is under moratorium.
• Firstsource Solutions: Rakesh Jhunjhunwala increased stake to 2.88% from 2.06% in the June quarter.
• Gujarat Ambuja Exports: Board to consider proposal for share split of 1:2 on July 25.
• VIP Industries: Board approved raising NCDs worth Rs 100 crore via private placement.
• Muthoot Capital Services: Completed its first securitization of Rs 100.9 crore in FY21.
• Non-Nifty Earnings Today: IRCTC, SAIL, Karnataka Bank, Lakshmi Vilas Bank, Future Consumer, GNFC, IFB Agro.

For all that you need to know going into today’s trade, click here.

• Benchmark indices end mixed
• S&P 500 and Dow Jones end lower while Nasdaq outperforms
• Long-term government bonds rallied following an auction of 30-year securities that showed strong demand
• Florida and California continue to report higher Covid-19 cases.
• Thursday's jobs data was better than estimates
• Bloomberg dollar spot index rose 0.2%
• Yield on the 10-year treasury fell six basis points to 0.61%
• West Texas Intermediate crude fell 3.5% to $39.47 per barrel

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Good Morning!

Indian equity markets gained in six of the last seven trading sessions, ending the weekly options expiry on a strong note.

The S&P BSE Sensex and the NSE Nifty 50 index have gained 2% each so far this week.

The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, fell 0.3% to 10,801 as of 7:45 a.m.

Asian markets have opened lower this morning, paring gains made during the week. Concerns have resurfaced that rising Covid-19 cases will hamper global economic recovery.

Markets in Japan and Hong Kong have opened lower, while those in China are down 1% after an eight-day winning streak.

Treasuries have held an overnight advance, while the U.S. dollar is edging higher.

Futures on the Dow Jones are unchanged after the index ended 1.4% lower on Thursday.

Oil prices fell further with West Texas Intermediate down 0.4% to $39.46 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.