Daily Market News Update - 08th-09th November 2026

Midnight News Update: 08-09 Nov 2026

Hindustan Coca Cola Holdings, the bottling arm of Coca Cola, has filed DRHP with SEBI for sale of 99.75 crore shares. While the pricing of the IPO is yet to be finalized, the IPO size is expected to be close to $1 billion (₹9,500 crore). India remains the fifth largest market for Coca Cola. For the June 2026 quarter, HCCB reported 20.5% increase in revenues at ₹4,310 crore. The 18.6% spike in volumes resulted in EBITDA margins improving 344 bps to 17.2%. Jubilant Beverages, which holds 60% stake in HCCB, will dilute its holdings to 45% through the offer for sale (OFS).

Amid a persistent drop in gold prices, the People’s Bank of China (PBOC) has continued its gold buying for 24 months in a row. In October 2026, PBOC added 25.8 metric tonnes (MT) of gold to its reserves. Gold prices have fallen nearly 25% from the January peak. In the last 10 months, China accumulated 129 MT of gold. One factor that triggered the fall in gold prices has been the Iran war, which led to higher inflation and rate hikes; pushing up the opportunity cost of holding gold. With the Democrats gaining the upper hand in mid-terms, gold prices could see a bounce.

Berkshire Hathaway just disclosed Q3 results with operating earnings falling -5.8% to $12.7 billion. The highlight of the quarter was the $9.6 billion share plan in the quarter, hinting that the company sees its own stock as undervalued. The fall in operating income was led by a fall in insurance underwriting revenues at its Geico unit. However, the cash stash of Berkshire remains quite high at $357 billion. One big shift is that Berkshire Hathaway is getting aggressive on the AI story, with a $10 billion stake buy in Alphabet. Its energy holdings rallied during the quarter.

While there are hopes of hostilities in West Asia reducing, freight rates are scaling new highs. The typical freight cost for a 40-foot container has touched $12,000 for US routes, and $8,000 for other routes for Indian exporters. Shipping costs to the Middle East have grown nearly ten-fold from the pre-war rates. Freight rates to the US are up six-fold from pre-war levels. India’s exports have looked robust, but they are coming from higher price realizations and not from volume growth. The pressure was visible on low-value high-volume items like ceramics, furniture etc.

Indian public sector banks (PSBs) expect to see nearly ₹30,000 crore in foreign inflows if the FDI cap is raised by the government to 49%. Currently, foreign holdings in PSBs cannot exceed 20%. It is expected that SBI alone could get inflows of nearly ₹20,000 crore. The increase in the FDI limits will automatically raise the weightage of these PSBs in the MSCI India Index, resulting in substantial passive flows into these banking stocks. This could be a politically delicate issue, but PSBs have performed better than private bank on earnings and stock market returns in last 3 years.

Tata Steel reported 16.2% higher net profits for Q2FY27 at ₹3,700 crore. That is well above the Bloomberg estimates for earnings. For the quarter, Tata Steel reported 11.5% higher revenues at ₹65,436 crore. The India market saw 16% volume growth driving most of its profit accretion in the quarter. EBITDA for the quarter was up 17.1% yoy at ₹10,665 crore, while EBITDA margins stood at 16.0%. All the 3 financials were better than consensus estimates. The overall EBITDA per tonne at ₹13,000 was largely driven by India operations reporting ₹17,790 EBITDA per tonne.

Companies get orders accounting for a substantial portion of revenues. For GRSE (Garden Reach Shipbuilders), the ₹32,000 crore order for 5 next-generation corvettes for the Indian Navy was 4.6 times annual sales. It also raises the company’s exposure to the Navy investment program to nearly ₹54,000 crore. The contract delivery will be phased over next 9 years. The order book of GRSE also grows 3-fold due to this single order. Revenue recognition for the Corvette project will start from FY28. GRSE is undertaking a ₹4,200 crore expansion to boost shipbuilding capacity.

Even as there is a growing debate over the valuations of Anthropic; another blue-chip AI company, Open AI, has got a $1.25 trillion valuation. It recently secured $11 billion funding at a valuation of $1.25 trillion. The company was planning to raise $30 billion, but had to scale back. It will raise the remaining $20 billion later, when the sentiments towards AI are more positive. Currently, there are a lot of apprehensions of over-investment in AI infrastructure and its ROI impact. Even in the Anthropic IPO, valuations have been scaled down from $2.0 trillion to $1.5 trillion.