CNBC-TV18 Morning Call: Tata Motors and OLA Electric results disappoint, Asian Paints delivers volume dip

1 / 19

Nifty ends a tad lower for the week as weak earnings weigh: Stock markets closed lower for the second straight day on Friday amid relentless foreign fund outflows and losses in blue-chip stocks Reliance Industries, ICICI Bank and State Bank of India. Benchmark BSE Sensex declined by 55.47 points or 0.07 per cent to settle at 79,486.32. During the day, it tanked 424.42 points or 0.53 per cent to 79,117.37. The NSE Nifty dipped 51.15 points or 0.21 per cent to 24,148.20.

2 / 19

Rupee ends at record low of 84.38 vs $: Declining for the third straight session, the rupee dropped 5 paise to hit a new lifetime low of 84.37 against the US dollar on Friday, weighed down by persistent foreign fund outflows and a muted trend in domestic equities.

3 / 19

Tata Motors’ Q2 disappoints: Tata Motors reported a surprise drop in second-quarter profit and its first revenue decline in 10 quarters on Friday, hurt by weakness in both its luxury vehicles unit, Jaguar Land Rover, and domestic businesses. The company posted a profit of 33.43 billion rupees ($396.4 million) for the quarter ended Sept. 30, down 11% on-year.

4 / 19

Asian Paints delivers a volume dip shock in Q2 on competitive pressures: Asian Paints reported an overall volume decline of 0.5%, compared to an expectation of a growth between 6% and 8% on a year-on-year basis. Net profit nearly halved, margins narrowed by 480 basis points, while gross margins also declined by 260 basis points from the same quarter last year. The management saying that demand conditions remain challenging, added to the already subdued sentiment.

5 / 19

OLA Electric posts a bigger loss, to launch 20 products over 2 years: The electric vehicle manufacturing company reported a net loss of ₹495 crore, which was slightly lower than the loss of ₹524 crore that it had reported during the same quarter last year. The company had reported a loss of ₹347 crore in the June quarter, its first reported quarter after listing.

6 / 19

Vedanta Resources cuts debt by $4.7 billion in 2 years, says Anil Agarwal: Debt at Vedanta Resources - the parent firm of the Mumbai-listed mining conglomerate Vedanta Ltd - has been cut by USD 4.7 billion in two years as financial discipline helped deleverage the group, its chairman Anil Agarwal said.

7 / 19

Swiggy IPO gets subscribed over 3x: Swiggy Ltd.'s initial public offering (IPO) was subscribed 3.59 times on Friday, November 8, the third and final day of bidding. Investors bid for 57.53 crore shares as against the 16.01 crore on offer.

8 / 19

Zomato launches Food Rescue to offer food from cancelled orders at big discounts: Food delivery and restaurant aggregation platform Zomato will allow customers to buy food from cancelled orders at a discounted price in an effort to check wastage of food.

9 / 19

SEBI looks to expand scope of UPSI: To enhance transparency in market disclosures, the Securities and Exchange Board of India (Sebi) is looking to broaden the scope of Unpublished Price Sensitive Information (UPSI) by including proposed fundraising activities, restructuring plans, and one-time bank settlements.

10 / 19

CCI finds Zomato, Swiggy violated competition law with exclusive pacts: The Competition Commission of India (CCI) has determined that food delivery giants Zomato and Swiggy have engaged in anti-competitive practices, sources have told CNBC-TV18. The CCI’s investigation revealed that both companies have entered into exclusive arrangements with select restaurant partners, a move that breaches competition regulations. The antitrust body is yet to adjudicate and issue its ruling on the matter.

11 / 19

Sanjiv Khanna to take oath as CJI today: Justice Sanjiv Khanna, who has been part of several landmark Supreme Court judgements such as scrapping the electoral bonds scheme and upholding abrogation of Article 370, will be sworn in as the 51st Chief Justice of India on Monday.

12 / 19

Not worried about US election results, says EAM: External affairs minister S Jaishankar on Sunday said that India is not nervous about the results of the US presidential elections, as Donald Trump secured a victory over Kamala Harris in the race for the White House. Addressing the silver jubilee celebrations of the Aditya Birla Group Scholarships Programme in Mumbai, the minister said,"The Prime Minister was among the first three calls I think that President Trump took. Prime Minister Modi has actually built rapport across multiple presidents."

13 / 19

Dow tops 44k, S&P-500 closes higher ending its best week of the year: U.S. stocks continued their post-election rally on Friday, notching more record highs with the Dow and S&P 500 putting in their best weekly performance all year.

14 / 19

Bitcoin hits record high above $81,000 as Trump rally persists: Bitcoin rallied past $80,000 for the first time, boosted by President-elect Donald Trump's embrace of digital assets and the prospect of a Congress featuring pro-crypto lawmakers. The cryptocurrency climbed as much as 4.7% to an unprecedented $80,092 on Sunday. (Image: Shutterstock)

15 / 19

Elon Musk backs plan to allow the President to meddle with Federal Reserve: Tesla and SpaceX CEO Elon Musk, the billionaire backer of newly minted President-elect Donald Trump, endorsed the idea of allowing presidents to intervene on Federal Reserve policy. In response to a Thursday social media post from Sen. Mike Lee, R-Utah, which called for the Fed to be under the direction of the president, Musk on Friday posted the “100” emoji used to convey agreement.

16 / 19

US ordered TSMC to stop shipments of chips used in AI to China, sources say: The U.S. ordered Taiwan Semiconductor Manufacturing Co to halt shipments of advanced chips to Chinese customers that are often used in artificial intelligence applications starting Monday, according to a person familiar with the matter cited by Reuters.

17 / 19

Trump speaks to Putin, advises him against escalation in Ukraine: Donald Trump spoke on the phone with Vladimir Putin on Thursday and discussed the war in Ukraine, the Washington Post reported on Sunday, citing people familiar with the matter. The US president-elect advised the Russian president not to escalate the war in Ukraine and reminded him of “Washington’s sizeable military presence in Europe”, the Post reported.

18 / 19

Trump says Haley, Pompeo will not join 2nd administration: President-elect Donald Trump said Saturday that former Republican presidential contender Nikki Haley and former Secretary of State Mike Pompeo will not be asked to join his administration.

19 / 19

China CPI contracts in Oct, PPI eases amid stimulus watch: China’s consumer inflation was anemic in October while factory-gate prices continued falling, suggesting the government’s latest round of stimulus is far from sufficient to free the economy from the grip of deflation.