UltraTech Cement is set to report robust Q2 earning growth due to surging demand for its products, government infrastructure initiatives, and pre-election spending. Factors such as price hikes, lower fuel costs and freight expenses are expected to support the quarter's revenue and net profit, while increased raw material costs may impact margins.

Revolt Motors, recently acquired by RattanIndia Enterprises, is scaling up its sales infrastructure and rolling out new products, aiming to have 500 dealerships in India within the year and 1000 within two-three years. Additionally, they are leveraging their innovation to offer unique preferences for EVs to customers, as well as exploring international markets.

US equity traders remain edgy, as Middle East tensions continue while focus remains mostly on US Treasuries. VIX reached 17.46 while the number of open VIX call options nears a record high. Retail sales data suggests strong end to Q3, increasing demand for risk-free US Bonds, resulting in overheated stock market sectors.

Citigroup reported no paper losses for the third quarter, but did not disclose any details on their portfolio. This is despite other banks suffering significant paper losses due to a tough market environment, which has seen the stock markets worldwide hit record lows. It appears Citigroup was able to navigate the turbulent period without taking any hits from its portfolio.

Tesla urges Biden administration to finalize tougher fuel economy standards than previously proposed by NHTSA. Tesla seeks 6% annual increases for cars and 8% for trucks & SUVs, while major automakers request significant revisions to the proposal. Non-compliance fines estimated at $14 billion+ and changes to EV rating calculation threaten Detroit Three automakers revenue.

Lemon Tree Hotels announced their latest deal of franchising a 45-room property in Vadodara, Gujarat, with an additional 55-room hotel in Dehradun, Uttarakhand to open by FY27. This is in addition to six existing and five upcoming hotels and resorts in the state. Both will have well-appointed rooms, a restaurant, a banquet hall, a meeting room, a fitness center, a lounge and other public areas.

LTIMindtree is expected to report a 10% sequential decline in net profit for Q2 FY24 due to wage hikes eating into margins, but 1.7% growth in dollar revenue. BFSI, manufacturing and utilities are expected to perform well, while COVID-related challenges such as volatile demand may affect growth.

Cognizant and Vianai Systems have announced a partnership for AI-led decision making, through which Cognizant will resell Vianai's Hila platform. This marks the coming together of two former Infosys executives, Vishal Sikka and Ravi Kumar S. Hila Enterprise helps clients analyse data leveraging generative AI and can monitor & improve LLM performance.

China's economy grew 4.9% in the third quarter from a year earlier, exceeding analysts' expectations and accelerating from the 6.3% expansion in the second quarter. This suggests recent policy measures have started to take effect and China is on track to meet the government's 5% full-year growth target.

Foxconn and Nvidia are collaborating to build AI factories that could revolutionize the tech industry. Liu Young-way and Jensen Huang announced their joint project at Foxconn's annual Tech Day in Taipei. This could be a game-changer for how tech companies produce AI products in the future.

CIE Automotive India Limited reported a 119% increase in Q2 net profit and 2.24% growth in revenue from operations compared to the same period last year. All businesses in India are performing well, with verticals showing promising growth potential by 2024. The company is an auto ancillary supplier based in Spain with global presence.

Exide Industries invested over Rs 200 crore in the last two months to its wholly-owned subsidiary Exide Energy Solutions Limited (EESL). The company allotted 3.2 crore shares of Rs 10 each with a premium of Rs 21 per share for EIL on a rights basis. EESL is engaged in the manufacturing and selling of lithium-ion battery cells, modules and packs for electric vehicles and stationary applications.

India offers a great opportunity for investors due to quality of its listed companies, economic growth, introduction of new sectors and various reforms that have enabled businesses to grow. However, its weightage in MSCI indices is only around 1.66% & 15.7%, respectively, as the calculation is based on free-float factor rather than opportunities available.

Happiest Minds Technologies Limited announced the formation of Product and Digital Engineering Services, a combined business unit merging their Product Engineering Services and Digital Business Services. They hope to use digital technologies and engineering expertise to expedite customer digital transformation and provide greater value.

The Indian rupee opened marginally higher against the US dollar and is expected to remain stable as the RBI looks to handle a $5 billion short position that is due soon. Meanwhile, Asian currencies are mixed due to the Gaza explosion and US President Biden's visit disruptions. While the dollar index fell slightly, China Offshore spot gained 0.23%, South Korean won rose 0.22%.