Biden All Set to Defeat Trump Special Features
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OPINION, P6 ECONOMY, P2 MARKETS, P11 EDITORIAL CAPTURING THE MARKET MAKING IT EASIER ECI must be prudent Gadkari is right Cut EV cost and forgo Sebi announces 'flexi about bureaucratic on its ‘polls during inefficiency, but babus profit initially, Gadkari cap fund',AMCs to pandemic’ talk thwarted by netas too tells automakers have more flexibility PUNE, SATURDAY, NOVEMBER 7, 2020 FOLLOW US ON TWITTER & FACEBOOK. APP AVAILABLE ON APP STORE & PLAYSTORE WWW.FINANCIALEXPRESS.COM VOL. XI NO. 242, 26 PAGES, `10.00PUBLISHEDFROM:AHMEDABAD,BENGALURU,CHANDIGARH, CHENNAI,HYDERABAD,KOCHI,KOLKATA,LUCKNOW,MUMBAI, NEWDELHI,PUNE READ TO LEAD SENSEX: 41,893.06 ▲ 552.90 NIFTY: 12,263.55 ▲ 143.25 NIKKEI 225: 24,325.23 ▲ 219.95 HANG SENG: 25,712.97 ▲ 17.05 `/$: 74.20 ▲ 0.19 `/€: 87.86 ▼ 0.38 BRENT: $39.86 ▼ $1.07 GOLD: `52,192 ▲ `879 IN THE NEWS BATTLEGROUND STATES LVB board meet today; may not take up Clix deal Biden all set to defeat Trump THE BOARD of the troubled Lakshmi Vilas Bank (LVB) is unlikely to take up the The Democratic Judge denies Trump campaign Clix deal at the Saturday candidate surges bid to halt Philadelphia count meeting which is primarily ahead in Georgia, being convened for the REUTERS wasfiledwiththefederalcourt purpose of approving the Pennsylvania November 6 in Philadelphia. second quarter results of “As stated during today’s the bank, reports fe Bureau A FEDERAL JUDGE denied an emergencyinjunctionhearing, in Chennai. ASSOCIATED PRESS emergency request from US in light of the parties’agree- Washington, November 6 President Donald Trump’s ment, plaintiff’s motion is Aurobindo Realty, campaignonThursdaytostop denied without prejudice,”US DEMOCRAT JOE BIDEN was ballot counting in Philadel- district judge Paul Diamond Essel Mining bag on the cusp of winning the phia so long as Republican said in a one-sentence order 1 coal block each presidency on Friday as he observerswere not present. late onThursday. opened up narrow leads over Trump’s campaign had A state appellate court TWO LARGE coal blocks President Donald Trump in sued Philadelphia County’s ruled earlier in the day that were auctioned off to private the critical battlegrounds of BoardofElectionsearlierinthe more Republican observers players on Friday,reports fe Georgia and Pennsylvania. day to seek an emergency could enter the building in Bureau in New Delhi.Aditya Those put Biden in a injunction. Philadelphia where poll work- Birla Group’s Essel Mining stronger position to capture (Clockwise from above) President DonaldTrump leaves the podium Thecampaignsaidelection erswere counting ballots. grabbed the Radhikapur East the 270 Electoral College after speaking at theWhite House; aTrump supporterwearing a mask officials were “intentionally Trump has repeatedly said block in Odisha by quoting a votes needed to take the ofUS Democratic presidential nomineeJoe Biden during a protest in refusingtoallowanyrepresen- without evidence that mail-in revenue share of 16.75% and White House. The winner Philadelphia; activists dressed as theWhite House, Philadelphia City tatives and poll watchers for votes were prone to fraud, for the Urma Paharitola mine will lead a country facing a Hall, and the United States Postal Service mailboxes President Trump and the though election experts say in Jharkhand,Aurobindo historic set of challenges RepublicanParty”.Thelawsuit that is rare in US elections. Realty made the highest bid including a surging of 26.5% revenue share. pandemic and deep political knowing who will lead them US coronavirus cases climb by Biden bad for US equities, good for others: Mobius polarisation. for the next fouryears. WhatsApp starts Trump remained in the The prolonged process record for second day in a row ABHISHEK VISHNOI foremergingmarketsandother WhiteHouseresidenceFriday added to the anxiety of a November 6 global equities since there will payment service morning as his campaign nation whose racial and cul- CORONAVIRUS CASES in rethinktheirplansforThanks- be a retreat from the US mar- in India insisted the election wasn’t tural divides were inflamed the US surged by at least givingdinneronNovember26. A JOE BIDEN presidency ket,”hesaidinanemailedinter- over Biden was at his home in during the heated campaign 120,276 on Thursday,accord- Twenty out of 50 states would be negative for equities view on Friday.Mobius’s com- WHATSAPP ON Friday said it Wilmington Delaware as the With his pathway to ing to a Reuters tally, the reporting record one-day in the US and positive for ments on Biden come as the is rolling out its payments vote count continued. reelection appearing to second consecutive daily increases on Thursday. Previ- other markets, given his Democrat inches closer to the services in India after recei- The focus on Pennsylvania greatly narrow Trump was record rise as the outbreak ously, the most states that plans to hike taxes on compa- presidency, overtaking Presi- ving nod from the National where Biden led Trump by testing how far he could go in spreads in everyregion. reported records fornewcases nies and wealthy Americans, Joe Biden dent Donald Trump in the the Payments Corporation of more than 9,000 votes and using the trappings of presi- US cases have risen by over in a single day was 16 on according to veteran investor crucial swing state of Georgia, India, reports PTI. In 2018, Georgia where Biden led by dential power to undermine 100,000 for three out of the October 30, according to Mark Mobius. saidMobius,whosetupMobius while a global equity rebound the Facebook-owned firm more than 1,500 came as confidence in the vote. last seven days, putting pres- Reuters data. Biden’s tax increases would Capital Partners after three showssignsofstalling. had started testing its UPI- Americansenteredathirdfull sure on hospitals in several reducetheincentiveforpeople decades at FranklinTempleton based payments in India. dayafterthe electionwithout Continued on Page 16 states and causing families to Report on Page 8 to invest in Wall Street stocks, Investments.Thatwill“begood Continued on Page 2 ● DATA CENTRES Special Features INDIA-US TRADE Fantastic Friday FE BUREAU Amazon RE replaces the Thunderbird Biden’s victory to Markets continue forward march announces Indian equities continued to Nifty50Intra-day, Nov 6 Bank Nifty Intra-day, Nov 6 with the Meteor rally on Friday,in sync with Prev close: 12,120.3 Prev close: 26,313.1 delay planned deal 12,300 27,200 investment The Meteor 350 inherits its Asian cues, resulting in the 12,263.55 26,798.95 name from another Royal fifth straight session of gains 12,240 26,800 Enfield motorcycle of the BANIKINKAR PATTANAYAK for the benchmark indices. 12,156.65 26,274.1 12,180 26,400 of `20,761 cr 1950s. It is also the New Delhi, November 6 NEWREALITY Encouraging macro-data as company’s first product to ■ Limited dealwas expected to also better-than expected 12,120 26,000 in Telangana corporate earnings have get a turn-by-turn navigation A VICTORY FOR Joe Biden in coverannualtradeofabout$13bn, 12,060 25,600 pod, called theTripper the American presidential or 15% ofbilateral shipment revived the sentiment with Open Close Open Close PRESS TRUST OF INDIA ■ Motobahn, P9 election may delay the conc- bank stocks particularly in New Delhi/Hyderabad, ■New US administration may seek favour. Foreign institutional 50,000 November 6 lusion of a“limited”trade deal to have a fresh look at the deal investors stayed bullish, 41,945.37 between India and the US that and suggest changes; talks for 40,000 41,893.06 Excellent performance by was negotiated formonths and a potential FTAmay be delayed snapping up stocks worth AMAZON WEB SERVICES wasexpectedtocoveranannual an estimated $720 million, 30,000 (AWS)onFridayannouncedset- ■ ICICI Bank in Q2FY21 trade of over $13 billion, or But some analysts expect according to provisional 20,000 tingupofitsseconddatacentre roughly 15% of bilateral ship- Biden administration to shed exchange data. Expectations Sensex regioninIndiainTelanganathat Rebound in fees offset NIM ments,as the new administra- rigidities of recent past and that global liquidity will 10,000 will be operational by mid- be more pragmatic on trade compression; collection tion may seek to review the remain abundant have also 0 2022,andwillseethetechgiant trends are encouraging; broad contours of even the set- boosted the sentiment. Jan 17, 2020 Nov 6, 2020 investingabout`20,761crore. FY21-23e EPS up 10-20%; tledissues,sourcestoldFE. While AWS did not com- TP raised to `525 from However,theBidenadmin- ment on the investment detail, `470; ‘Buy’ maintained; istration will likely be more Telangana IT and industries top pick in the sector pragmatic and may not view SC ORDER ministerKTRama Rao tweeted ■ Investor, P9 tradetieswithcountries,espe- AWS will invest `20,761 crore cially strategic allies, strictly ($2.77billion)tosetupmultiple from the narrow prism of Lighthizer and he had agreed Telcos can offer segmented datacentresinthestate.“Happy American trade deficit, as that“we can look to finalising to announce the largest FDI in QuickPicks DonaldTrump did. (the limited deal) before the thehistoryofTelangana!Aftera In September,India’s com- (US) election, or otherwise tariffs but Trai can ask for details series of meetings, AWS has merce and industry minister soon afterthe election”. finalisedinvestmentof?20,761 SC stays HC order asking SpiceJet Piyush Goyal had said INDU BHAN are not part of standard tariff Cr($2.77Bn)tosetupmultiple UStraderepresentativeRobert Continued on Page 2 New Delhi, November 6 In 2018,Trai had package),thiscamewithacaveat