Equities rose across Asia on Monday following another record day on Wall Street, with traders also cheered by data suggesting China’s economic malaise is showing signs of easing.Hong Kong and Shanghai were among the best performers after data showed Chinese manufacturing activity expanded at a faster clip than expected in November.US equities joined a global rally on Friday, looking set to crown November with Wall Street’s biggest monthly gain in a year on post-election growth hopes.Here’s a table showing how US stocks performed on Friday:

Source: EquitymasterAt present, the BSE Sensex is trading 347 points lower and NSE Nifty is trading 75 points lower.Maruti Suzuki, Grasim Industries, and Bajaj Auto are among the top gainers today.HDFC Life Insurance, ONGC, and HDFC Bank other hand are among the top losers today.The BSE Midcap index and the BSE Smallcap index are trading flat.Sectoral indices are trading mixed today with stocks in the power sector and realty sector witnessing the most buying.Meanwhile, stocks in the media sector, banking sector, and IT sector witnessing selling pressure.The rupee is trading at Rs 84.62 against the US dollar.In commodity markets, gold prices are trading 0.9% lower at Rs 76,380 per 10 grams today.
 MoD Inks Contract with Cochin ShipyardThe Ministry of Defence (MoD) signed a contract with Cochin Shipyard Limited (CSL) on Saturday (30 November) for repairing, maintaining and upgrading INS Vikramaditya, with that aircraft carrier having completed more than a decade of operational service.INS Vikramaditya is a 45,000-tonne aircraft carrier, built in Russia as the Admiral Gorshkov and commissioned into the Indian Navy in November 2013.After completing the current refit, INS Vikramaditya will rejoin the naval fleet with its combat capability upgraded.Aircraft carriers, with their multiple systems and massive mechanical inventories are required to adhere to a strict maintenance schedule. Every year, the Vikramaditya undergoes an “assisted maintenance period” (AMP), in which a regimen of repair and maintenance tasks are carried out to ensure that the carrier remains seaworthy.Every five years, each capital warship undergoes “short refit”, a 6-8 month maintenance refit that can be carried out in whichever naval base the warship happens to be.In addition, about once a decade, each aircraft carrier undergoes a “medium refit” that takes it into the dry dock for 15-18 months.That is why the navy argues for three aircraft carriers in its fleet: One of them undergoing refit and the other two deployed, one each in the eastern and western coasts.

Adani Green Eyes Revival
Adani Green Energy Ltd. will consider resurrecting its scrapped dollar bond between April and June, Group Chief Financial Officer Jugeshinder Singh said, in a show of the conglomerate’s resilience despite the US probe against founder Gautam Adani.Meanwhile, Bangladesh High Court last week ordered a committee of experts to examine the contract under which Adani supplies power from a US$ 2 billion coal-fired plant in eastern India.The investigation is expected to be concluded by February when the court is due to make its order.In 2017, a deal was signed by Adani and a Bangladesh government entity under Prime Minister Sheikh Hasina to supply 1,600 megawatts power from Jharkhand-based plant.
 Auto Sales November 2024The Indian auto industry showcased mixed performance in November 2024, with some segments delivering robust growth while others faced challenges. Passenger vehicle sales maintained their momentum, driven by SUVs and electric vehicles, while commercial vehicles and tractors struggled with subdued demand.Hyundai Motor India: Hyundai Motor India Limited (HMIL) achieved total sales of 61,252 units in November 2024, comprising 48,246 domestic sales and 13,006 exports.Escorts Kubota: Escorts Kubota faced a decline in November 2024, with total sales falling 9.4% year-on-year, totaling 8,974 units. The company sold 8,730 tractors domestically, marking an 8.1% drop from the previous year.Tata Motors: Tata Motors reported stable performance with total sales of 74,753 units. This marked a slight 0.8% YoY increase from 74,172 units in November 2023. Domestic sales grew 1% YoY to 73,246 units.TVS Motor: TVS Motor had a strong month, reporting total sales of 4.01 lakh units, surpassing market estimates of 3.87 lakh units. This represented a 10.2% YoY increase from 3.64 lakh units in November 2023.
 USFDA Approves Biocon BiologicsBiocon’s arm, Biocon Biologics Ltd (BBL), announced today that the US Food and Drug Administration (USFDA) has approved YESINTEK (Ustekinumab-kfce), a biosimilar to the reference product Stelara (Ustekinumab).YESINTEK, a monoclonal antibody, is approved for the treatment of Crohn’s disease, ulcerative colitis, plaque psoriasis, and psoriatic arthritis.Biocon Biologics had previously notified the stock exchange in February 2024 that the company had entered into a settlement and licensing agreement with Janssen Biotech, Janssen Sciences Ireland, and Johnson & Johnson (collectively known as Janssen) to commercialise YESINTEK in the United States no later than February 2025, upon approval from the USFDA.More By This Author:Sensex Today Rallies 759 Points; Nifty Above 24,100Sensex Today Trades Higher; Nifty Above 24,000; Adani Green Energy Jumps 8%Sensex Today Tanks 1,190 Points; Nifty Ends Below 23,900