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Asian stocks today: Markets trade mixed ahead of US economic data; HSI nears 1% loss; Nikkei adds over 800 points – The Times of India

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Asian stocks today: Markets trade mixed ahead of US economic data; HSI nears 1% loss; Nikkei adds over 800 points – The Times of India


Asian equities traded mixed on Wednesday as global traders took their cue from another rally on Wall Street, although the enthusiasm remained limited ahead of crucial US economic data and next week’s Federal Reserve meeting.Hong Kong’s HSI was down 252 points or 0.97% to reach 25,842. Shenzhen and Shanghai also traded in red, down 0.09% and 0.05% respectively. Nikkei, meanwhile, jumped 817 points to trade at 50,120 at 11:05 AM IST. The prospect of a third straight US interest rate cut has been absorbed into pricing for days, leaving investors reluctant to place fresh bets until the final economic updates arrive. The two figures now commanding the most attention are the private-sector jobs reading from payrolls group ADP, scheduled for release later on Wednesday, and the personal consumption expenditure (PCE) index coming on Friday, the inflation measure the Fed relies on most heavily. Money markets currently assign around a 90% likelihood to a December 10 rate cut and anticipate three more reductions during the course of the next year. Adding to the broader market mood are reports that President Donald Trump’s senior economic adviser Kevin Hassett, known for advocating deeper rate cuts, is now the frontrunner to succeed Jerome Powell when the Fed chair’s term expires in May. Still, analysts pointed out that the policy board does not appear aligned on whether monetary decisions should be driven more by persistent inflation pressures or weakening employment conditions. One area offering relief came from the American retail sector, where the National Retail Federation reported a record turnout for the “Black Friday” shopping period. According to the industry group, 202.9 million consumers made purchases across the five-day stretch, beating projections and reflecting what the NRF described as a “highly engaged consumer”. Following the latest gains on Wall Street, most Asian markets also registered advances. Tokyo climbed by more than one per cent, while Seoul, Sydney, Singapore, Wellington, Taipei and Jakarta all traded higher. Losses were recorded in Hong Kong, Shanghai and Manila. Meanwhile, Bitcoin pushed back above the $90,000 mark after almost 10% was wiped from its value earlier in the week during a broad shift away from risk assets. Even with the rebound, sentiment within the crypto space remains cautious after the token fell as low as $80,550 last month, having previously touched an all-time high above $126,250 in October.





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Aadhaar–UAN Seeding For Filing Of ECR Deadline Over; Govt Says No Further Extension To Be Given

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Aadhaar–UAN Seeding For Filing Of ECR Deadline Over; Govt Says No Further Extension To Be Given


New Delhi: The Employees Provident Fund Organisation has issued circular regarding discontinuation of extension of timeline for mandatory Aadhaar Seeding with UAN for filing of ECR in respect of Establishments in the North East Region and Certain Classes of Establishments beyond 31 October 2025.

The mandatory requirement for filing Electronic Challan-cum-Return (ECR) only for those members whose Aadhaar number is seeded and verified with their Universal Account Number (UAN) was introduced with effect from 01 June 2021.

Considering the implementation challenges initially faced by employers and employees, several extensions were provided through the cited circulars and Ministry of Labour & Employment communications. These relaxations specifically covered:

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North East Region (NER): States of Assam, Arunachal Pradesh, Manipur, Meghalaya, Mizoram, Nagaland, and Tripura.

Specific Industries: Beedi-making, Building & Construction, and Plantation industries (including Tea, Coffee, Cardamom, Pepper, Jute, Rubber, Cinchona, Cashewnuts, etc.).

The latest extension, allowed the above categories time until 31 October 2025.

EPFO has however noted that over the past four years, adequate opportunities have been provided to complete Aadhaar-UAN seeding and verification. Current pendency is marginal and continues to decline steadily.

In order to prevent further dependency on recurring extensions, it has been decided not to grant any further extension, said EPFO.

The retirement fund body has also asked all Zonal Offices (ZOs) and Regional Offices (ROs) to immediately commence intensive sensitisation and awareness drives targeting the concerned employers. 

Employers must be clearly informed that ECR filing for the wage month of November 2025 onwards will be permitted only for members whose Aadhaar is duly seeded and verified with UAN, without exception, EPFO added.

 



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THIS Major Refinery In Assam Accorded Navaratna Status, Becomes India’s 27th Navratna CPSE

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THIS Major Refinery In Assam Accorded Navaratna Status, Becomes India’s 27th Navratna CPSE


New Delhi: The Department of Public Enterprises under the Finance Ministry has announced that Numaligarh Refinery in Assam has been granted the Navratna status.

Department of Public Enterprises in a post on X wrote, “Hon’ble Finance Minister has approved the upgradation of Numaligarh Refinery Ltd (NRL) to Navratna CPSE. NRL will be the 27th Navratna amongst the CPSEs. NRL is a Ministry of Petroleum & Natural Gas CPSE with an annual turn over of Rs 25,147 crores and net profit of Rs 1,608 crores for FY 2024-25.” 

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Assam Chief Minister Himanta Biswa Sarma said that he was grateful to to Prime Minister Narendra Modi for the grant of the prestigious Navratna status to Numaligarh Refinery.

Sarma wrote on X, “I am grateful to Adarniya Prime Minister Shri @narendramodi ji for his faith in Assam’s oil & gas sector and his guidance in taking it forward. This milestone achievement would not have been possible without the unstinted support of Hon’ble Union Minister Shri @HardeepSPuri ji.” 

Oil India Ltd has majority shareholding (69.63%) in NRL, while the Assam government has 26% and Engineers India Ltd 4.37% shareholding.

Union Petroleum and Natural Gas Minister Hardeep Singh Puri posted on X saying he was delighted and proud for Navratna status to NRL.

“This recognises NRL’s strong performance and its ambitious growth path, from the ongoing NREP refinery expansion to the recently inaugurated ABEPL bamboo-based 2G bioethanol plant that is driving energy security and green growth from Assam and the North East,” Puri posted on X. 

The Minister congratulated NRL, promoter Oil India Ltd, equity partner Engineers India Ltd and the Assam government, adding that the company’s steady rise reflects the Centre’s push for energy self-reliance and green-transition pathways. 

 





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Dr Reddys, Titan & more: Top stocks to buy on December 3 — Check list – The Times of India

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Dr Reddys, Titan & more: Top stocks to buy on December 3 — Check list – The Times of India


HSBC has a buy on Dr Reddys Labs with the target price at Rs 1,430. Analysts said that the semaglutide opportunity is intact for Dr Reddy’s in Canada, and it has replied to Health Canada’s queries on its application. GLP-1 drugs class remains the company’s focus segment and it is making progress in long-term drivers like biosimilars. Health Canada approval for generic semaglutide will be a key catalyst for the stock.Goldman Sachs has a buy on Titan with the target price at Rs 4,500. Analysts said the company expects a 15-20% growth in its jewellery business in the medium term. The company is maintaining jewellery margins despite headwinds. Its consolidated earnings before interest and taxes (EBIT) growth is ahead of standalone jewellery EBIT growth, driven by the strong trajectory of Caratlane, watches and other businesses. Titan’s eyewear business is strong in the premium segment and it is exploring how to address the mass market opportunity.Bernstein has and outperform rating on Trent with the target price cut to Rs 5,000. Analysts said they believe that the company’s revenue growth now is at a bottom. From here on the key drivers of recovery are like-for-like for split stores turns positive with base effect, about 20% compounded annual growth rate in Zudio network for three years, improved consumer demand cycle and growth in Westside business. On the other hand the key risk remains the competitive upsurge (more stores and replicating Zudio’s fashion sense and demand pull).CLSA has an outperform rating on Power Grid Corp with the target price at Rs 342. Analysts said that the company’s entry into the battery energy storage systems (BESS) should be a positive surprise with it emerging as a preferred bidder for a 150MW project. The company’s strategy of entering adjacencies such as BESS inside a transmission substation as it is likely to win the BESS concession at 11% above the price of lowest bid. They expect the company to scale-up its BESS portfolio to multi-GW with its competitive advantage of a 100 basis points (= 1 percentage point) lower interest rate versus private competitors.Macquarie has an outperform rating on ITC with the target price at Rs 480. Analysts said that the govt is proposing a new cess on cigarettes, which is likely to replace the compensation cess. This new levy increases uncertainty on taxation for the players, analysts said. In turn this could involve a transition period for things to adapt and normalise to any new system.(Disclaimer: Recommendations and views on the stock market, other asset classes or personal finance management tips given by experts are their own. These opinions do not represent the views of The Times of India)





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