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Meanwhile other airlines such as Air India, Vistara and SpiceJet have upped crew salaries. Tata’s airlines are expanding and recruiting. Also growing its manpower would be Akasa, which received its flying permit on Thursday and Jet Airways which plans to start flights in its second lease of life.

British International Investment (BII), the UK’s Development Finance Institution and impact investor and Mahindra & Mahindra (M&M) executed a binding agreement to invest up to Rs. 1,925 crores each into a wholly owned subsidiary of M&M that will be newly incorporated (“EV Co.”).

Tata Consultancy Services, MMTC, Kohinoor Foods, Shrenik, Brahmaputra Infrastructure, Morarka Finance and Spectrum Foods are among companies that will announce their quarterly earnings today.

"Europe is exposed to large risks around energy dependency, a cost of living crunch on the consumer, and fragmentation risk. This spells euro/dollar lower," said analysts at Citi.

Edelweiss said investors may watch out for deal momentum, tenure and pricing; attrition and supply-side pressure; client budget and how the pipeline is shaping amid geopolitical uncertainties and weak macro outlook.

Stocks that were in focus included names like TCS which closed with a gain of about 1 per cent, a day ahead of its results on Friday, while Rakesh Jhunjhunwala-owned Titan rose more than 5 per cent, and Surya Roshni gained more than 8 per cent on Thursday.

The acquisition for a purchase price of Rs 564.67 crore is likely to be completed in the ongoing financial year, adding that the consideration will be in the form of cash.

Jaguar Land Rover reported a 37 per cent decline in retail sales at 78,825 units in the quarter ended June.

Law mandates the RBI to keep inflation at 4% which it forecasts to be 6.7% this fiscal. To get to target, it has to raise interest rates sharply which it is reluctant to as it aims for a durable economic recovery. For the currency to be stable it has to attract overseas funds with higher interest rates.

The Reserve Bank of India on Wednesday had announced a slew of measures to enhance foreign exchange flows and rein in the value of the rupee which touched record low nearing Rs 80 to the dollar, including allowing overseas investors to buy short-term corporate debt and opening of more government securities under the fully accessible route.