The big news today is Infosys' Q2 results, where the company announced profits QoQ as up 5%, but still cutting its guidance for the revenue it expects for the year, from 10.5-12% to 8-9%.  Brokers had predicted a guidance drop, and the stock has taken a beating in early trading today following the results, falling 1.6% and crossing below its 30 day SMA. The drop in guidance reflects management anxiety about longer-term growth, with CEO Vishal Sikka saying that the company needs to move from a "cost-based, people only model" to one "amplified by AI and software". That shift however, is outside the comfort zone of Infosys and an Indian IT industry that has long relied on a low-cost service approach for growth. 

India is only the third market outside the US - after Mexico and China - to now have access to Amazon Global, which will make international products available to Indian customers in INR, with delivery in less than two weeks. This would include products sold at deep discounts during Black Friday sales. This move is likely to further ramp up protests by offline retailers against online marketplaces. 

2016 has turned out to be the Year of the IPOs, with 21 companies raising almost $3 billion in funds in the first nine months of this year. This has already beaten IPO records since 2007. Of the IPOs, Quess Corp had the most impressive listing gains, scoring 58.6% over its offer price. RBL Bank and Advanced Enzymes  both listed with a premium of over 30%. 

Photo of the day: First 'knife-edge' stunt by a plane, as it flies between two hot air balloons, in England. Ben Birchell/ Guardian