Daily Market News Update - 04-05 November 2026

Midnight News Update: 04-05 Nov 2026

It was an absolute sweep by the Democrats as they routed the Republicans in both the Senate and the House. In the US Senate, Democrats won 54:44, while they won 228:139 in the House. Even in governor results, Democrats led 28:20. It remains to be seen how it impacts Trump’s functioning; having lost control of the House and the Senate. Trump has argued that the reason for their defeat was not the Iran war, but the spike in gas prices in the US. The gas spike was triggered by the Iran war. NASDAQ fell sharply on fears that the AI investments could slow down.

As a first step, Iran has exempted India, China, Iraq, and Qatar from Hormuz restrictions. Iran does depend on India to supply its pharmaceutical needs and the decision has been driven more by mutual needs. This will be a blessing in disguise for India as it depends on LNG and crude through the Straits of Hormuz. It is not clear whether these countries will have to pay transit charges. China has been an important source of economic and diplomatic support for Iran. This signals that Iran will be increasingly using access to Straits of Hormuz as its bargaining chip in future.

Razorpay has got SEBI approval for its proposed ₹6,000 crore IPO; expected at an indicative valuation of $5 billion. Razorpay offers an array of financial services through its integrated digital platform. It may be recollected that Razorpay had filed its DRHP through the confidential route in June. It first attained unicorn status in 2020 and has grown sharply since then. Post the approval, Razorpay will have to file an updated DRHP. There are other big IPOs; PhonePe and Flipkart, which are on hold currently. The company had originally targeted nearly twice this valuation.

Indigo Airlines is in talks with Embraer SA of Brazil for the purchase of 100 jets. The order could run into several billions of dollars. This could be one of the largest orders placed with Embraer. As of now, the discussions are at an early stage and the deliveries will only commence from 2030. This order will open the world’s third largest aviation market to Embraer. As of now, only Star Air, a regional carrier, operates Embraer aircraft. Indigo will use the Embraer aircraft to replace some of its ATR Turboprops. Overall, Indigo plans to expand its fleet to 600 aircraft by 2030.

A total of 7 Indian companies achieved Unicorn status in 2026, which refers to a company with an indicative valuation of over $1 billion. These include Twin Health (digital health company), KreditBee (digital lender), Cloud Nine Hospitals (Healthcare), Dhan (Stock Broking Platform), La Renon Healthcare (Pharma Company), New Wealth (AMC and Wealth Management), and InVideo AI (AI-based video editing). Year 2026 also saw the addition of nearly 15 “Gazelles”, which refers to companies with indicative valuations of between $500 million and $1 billion.

BHEL has bagged orders worth ₹28,000 crore from Adani Power. These orders pertain to supply of equipment like boilers, turbines, and generators with auxiliaries for the 4 power plants of Adani Power. BHEL will supply equipment worth ₹7,000 crore to each of the 4 power plants of Adani Power. For Q2FY27, BHEL had reported more than twofold rise in net profits to ₹821 crore. Sales revenues were up 24% sequentially at ₹9,300 crore for the quarter. Government of India has a 58.17% stake in BHEL, which caters to power, defence, aerospace, and oil & gas sectors.

The US is looking to seriously diversify beyond China for battery manufacturing material, a key requirement for EVs and energy storage systems. Global battery requirements are expected to touch 3,500 GWh by 2030, of which 2,000 GWh will be driven by China and 1,500 GWh by the rest of the world. Government of India has set aside ₹45,000 crore under the PLI scheme for this purpose. Big beneficiaries in India could be Neogen Chemicals (makes bromine and lithium-based specialty chemicals) and Sudeep Pharma (makes battery grade iron phosphorus).

Even as Coal India has seen its stockpiles dwindle rapidly, captive coal output increased 42% yoy in the month of October 2026 to 22.03 million tonnes (MT). Captive coal output was just 15.49 MT in October 2025. The cumulative captive production in the 7 months from April to October 2026 stood at 117.23 MT, up 11.3% over the previous year. The boost in captive coal output can be attributed to improved operational efficiency, enhanced mining productivity, and better utilization of mining capacities. Currently, there are 87 captive and commercial coal mines operational.