Asian equities tracked a drop in US shares ahead of jobs data that may help shape the direction of the Federal Reserve’s policy path later this month.Equities in Japan, Australia and futures in Hong Kong all fell, taking cues from the downbeat mood on Wall Street.US stocks were lower on Thursday as investors awaited Friday’s big jobs report.Here’s a table showing how US stocks performed on Thursday:

Source: EquitymasterAt present, the BSE Sensex is trading 44 points lower and NSE Nifty is trading 14 points lower.Bajaj Auto, ITC, and Eicher Motors are among the top gainers today.TCS, Wipro, and L&T other hand are among the top losers today.The BSE Midcap index and the BSE Smallcap index are trading marginally higher.Sectoral indices are trading mixed today with stocks in the metal sector, power sector, and auto sector witnessing the most buying. Meanwhile, stocks in the media sector and the realty sector witnessing selling pressure.The rupee is trading at Rs 84.66 against the US dollar.In commodity markets, gold prices are trading 0.4% higher at Rs 76,780 per 10 grams today.
 Nykaa Share Price to be in FocusNykaa shares will be in focus on Friday after Nihir Parikh, the CEO of Nykaa Fashion, stepped down from his role at the beauty and fashion retailer on Thursday.In his resignation letter, Parikh said that he was stepping down on account of personal commitments, effective 5 December 2024.Parikh joined Nykaa on May 6, 2015. He holds a bachelor’s degree in chemical engineering from the University of Mumbai and an MBA from INSEAD business school in France, according to Nykaa’s website.Prior to his tenure at Nykaa, Parikh was associated with Genentech Inc., an American biotechnology company, and GE Healthcare, a health tech firm.In the second quarter, Nykaa’s fashion segment reported a modest 10% growth in gross merchandise value (GMV) for the July-September period. The company attributed the slower performance to key festivals falling later in the year, as such events typically drive growth in fashion products.
 RITES Secures New ProjectState-owned RITES Ltd on Thursday (5 December) said it has been appointed as the Project Management Consultant (PMC) for the development of the Phase II campus of the Indian Institute of Management (IIM) Raipur in Chhattisgarh.The project, awarded by IIM Raipur, is valued at Rs 1.5 bn (excluding GST), including the PMC fee.The contract involves the execution, supervision, monitoring, and overall development of the campus on a cost-plus basis. The project is expected to be completed within 23 months.

New PSU IPOs
Canara Bank said on December 5 that it has received approval from the Reserve Bank of India (RBI) to divest its equity stake in two subsidiaries Canara Robeco Asset Management Company (AMC) and Canara HSBC Life Insurance Company via initial public offerings (IPOs).The divestments will involve a 13% stake in Canara Robeco AMC and a 14.5% stake in Canara HSBC Life Insurance.The RBI’s approval includes a directive to reduce its stake in these entities to 30% by October 31, 2029, per an exemption granted by the Government of India.Canara HSBC Life Insurance Company, a joint venture established in 2008, has Canara Bank holding a 51% stake, HSBC Insurance (Asia Pacific) Holdings owning 26%, and Punjab National Bank (PNB) holding the remaining 23%.In the mutual fund business, Canara Bank owns a 51% stake in Canara Robeco AMC, while Japan’s Orix Corporation holds the remainder. Canara Robeco AMC, established in 1993 and partnered with Robeco in 2007, is India’s second oldest asset manager.The planned IPOs will help Canara Bank monetize its investments in the asset management and insurance sectors and will aid in meeting the RBI-mandated timeline for reducing promoter stakes in these units.
 Garden Reach Shipbuilders Signs New ContractState-run Garden Reach Shipbuilders & Engineers Ltd (GRSE) on Thursday (5 December) said it has signed a contract for the construction and delivery of the second 7,500 Deadweight Tonnage (DWT) Multi-Purpose Vessel (MPV) in a series of four additional vessels.The agreement was formalised on 4 December 2024, in Hamburg, Germany. This milestone follows GRSE’s September 2024 announcement of securing an order for four additional MPVs of 7,500 DWT each.The company has confirmed that the financial implications of the order remain unchanged. The remaining two contracts in the series will be disclosed once they are signed.More By This Author:Sensex Today Rallies 809 Points; Nifty Above 24,700Sensex Today Trades Higher and Nifty Above 24,500Sensex Today Ends 110 Points Higher; Nifty Above 24,450