AMERICANS HAND OBAMA A SECOND TERM; U.S. Markets Fall On `Fiscal Cliff,` EU Fears; Sensex Spurts 85 Points; Tata Motors Q2 Net Up 10.5%, Misses Forecast; Adi Godrej Stopped From Entering WEF Meeting

Wednesday, Nov 07, 2012 AMERICANS HAND OBAMA A SECOND TERM   President Barack Obama won a second term in the White House on Tuesday, overcoming deep doubts among voters about his handling of the U.S. economy to score a clear victory over Republican challenger Mitt Romney. Obama won 303 of electoral votes against Romney's 206. Americans chose to stick with a divided government in Washington, however, by leaving the U.S. Congress as it is, with Obama's fellow Democrats controlling the Senate and Republicans keeping the House of Representatives. The nationwide popular vote remained extremely close with Obama taking about 50% to 48% for Romney after a campaign in which the candidates and their party allies spent a combined $2 billion. (SEE OBAMA'S VICTORY SPEECH IN VIDEO SECTION BELOW). read more   U.S. MARKETS FALL ON 'FISCAL CLIFF,' EU FEARS   The U.S. markets opened sharply lower Wednesday in the wake of President Barack Obama's re-election, triggered by worries over the looming "fiscal cliff" and as fears over Europe resurfaced. Dow Jones was down 154 points at 13,091.01 while Nasdaq was down 37.29 at 2,974.64 points. read more   INDIA INC CHEERS OBAMA'S RE-ELECTION   India Inc believes Barack Obama re-election as U.S. President will be beneficial for India as matters related to outsourcing and job creation will get a boost. read more   LEAD STORIES MARKETS CHEER OBAMA'S WIN; SENSEX SPURTS 85 POINTS   Sensex gains for 6th day on Obama's win and expectation of good results from SBI tom. Sensex closed at 18,902.41 pts. Nifty up 35 pts at 5,760.1. read more TATA MOTORS Q2 NET UP 10.5%; MISSES FORECAST   Tata Motors' Q2 net rose to Rs 2,075 cr. Consolidated revenues rose by 19.9% - slightly lower than expectations - to Rs 43,403 crore Y-o-Y. read more ADI GODREJ STOPPED FROM ENTERING WEF MEETING   The impact of the parting of ways between WEF and CII was felt today when Adi Godrej was prevented from entering the the Indian edition of WEF. read more TOP STORIES • 2G auction to be over on day 1, price too high: Mittal   • India needs a rebooting: Nestle CEO Paul Bulcke   • Morgan Stanley selling its Indian private bank   • Obama is anti-mfg outsourcing, not anti-IT: Nasscom   • Kingfisher Air needs to infuse $1 bn, says SBI chief   • No invitation for Bengal ministers from FICCI   • Hinduja's Gulf Oil buys U.S. Houghton Intl. for $1.04 bn   • Bharti's Q2 net falls 30%; down for 11th qtr in a row   • Cognizant beats street again, net up 22% at $276 mn   • Vedanta profit jumps 49% to $2.56 bn in first half   • Rupee soars to 2 week high; up 23 paise at 54.20/$   • Gold price zooms Rs 350, silver Rs 1,500   • Sacked Maruti Manesar workers begin dharna   • Cabinet may take up pharma policy on Thursday   • BSE, NSE Muharat trading on Nov 13, during 3.45-5pm   • CAT 2012 concludes, aspirants up by 4% to 214,068   • Won't resign from BJP, will fight Gadkari: Jethmalani   • Sony Six pips Ten Sports to win NBA rights for India   • Xi Jinping named secretary general of Chinese Party   • Move over, Obama; Twitter had a big night too   more stories TOP VIDEOS VICTORY SPEECH: For U.S.A, Best Is Yet To Come: Barack Obama, President Of America   Quantitative Easing Likely With Obama Win; Indian Market Looks Good: Ramesh Damani, Member, BSE   We Are Not Interested Where The Capital Is Coming From. But We Would Like To See Capital Being Infused In KFA: Pratip Chaudhuri, Chairman, SBI   Tackling U.S. Fiscal Cliff Key For Equities: Geoffrey Dennis, MD & Global EM Strategist, Citi Investments   AT A GLANCE BSE 18902.41 +85.03 NSE 5760.1 +35.7 TURNOVER Rs. 181,816 cr BSE CASH Rs. 2,297 cr NSE CASH Rs. 11,051 cr NSE F&O Rs. 144,335 cr BULLION GOLD 31307 +34 SILVER 59522 -388 CRUDE NYMEX 86.46 -2.25 BRENT 109.26 -1.81 FOREX $ / Re 54.205 -0.23 £ / Re 86.617 -0.45 € / Re 69.159 -0.57 EVENTS TO WATCH 8 November SC To Hear Matter Regaring Cancellation Of Tata Tele Spectrum 18th National Congress Of The Chinese Communist Party, Beijing 12 November 2G Auction For Spectrum Allocation Begins 13 November Muhurat Trading On BSE, NSE From 3.45pm To - 5pm 16-17 November HT Leadership Summit 18 November MCX-SX To Inaugurate Trading Infrastructure 22 November - 20 December Winter Session Of Parliament

"So much regulations and complexities kill entrepreneurial spirit. It looks to me that India is suffering from its own gravity." Paul Bulcke CEO, Nestle "Whether you voted for the very first time or waited in line for a very, very long time - by the way we have to fix that - whether you pounded the pavement... or whether you held an Obama sign or a Romney sign you made a difference...We know in our hearts that for the United States of America, the best is yet to come." Barack Obama President, U.S.A "Every time there is anti-outsourcing topic, we always take it as it's for our industry (Indian IT services industry). Actually, it's targeted at manufacturing sector. Many of the jobs (in the manufacturing sector in the U.S.) have moved (to China)." Som Mittal President, NASSCOM