scorecardresearchStocks to Watch: From Eicher Motors to Zomato, here are 7 stocks in news today

Stocks to Watch: From Eicher Motors to Zomato, here are 7 stocks in news today

Updated: 11 Nov 2022, 08:40 AM IST
TL;DR.
India's NSE stock futures, listed on the Singapore exchange , were up 1.6 at 0148 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan surged 3.6%.
Mumbai: People look at Sensex updates on a screen outside Bombay Stock Exchange (BSE), in Mumbai, Wednesday, Sept. 14, 2022. (PTI Photo)(PTI09_14_2022_000099B)

Mumbai: People look at Sensex updates on a screen outside Bombay Stock Exchange (BSE), in Mumbai, Wednesday, Sept. 14, 2022. (PTI Photo)(PTI09_14_2022_000099B)

(Reuters) - Indian shares are expected to open higher on Friday, in line with Asian peers as cooling U.S. inflation fuelled hopes that aggressive Federal Reserve rate stance might begin to ease.

India's NSE stock futures, listed on the Singapore exchange , were up 1.6 at 0148 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan surged 3.6%.

The NSE Nifty 50 index closed down 0.71% at 18,028 on Thursday, while the S&P BSE Sensex fell 0.69% to 60,613.70.

All three major U.S. stock indexes notched their biggest one-day percentage advances in about two-and-a-half years in a broad, robust rally as the Labor Department's data showed the annual consumer price index number below 8% for the first time in eight months.

India will report its October inflation number next week.

In domestic earnings, Nifty component Mahindra and Mahindra , top insurer Life Insurance Corporation of India , battery maker Exide Industries, engineering company Bharat Heavy Electricals will be among the scores of companies reporting quarterly numbers.

Foreign institutional investors bought net of 360.6 million Indian rupees ($4.47 million) equities on Thursday, while domestic investors sold 9.67 billion rupees of shares, as per provisional data available with the National Stock Exchange.

Stocks to watch:

** Companies led by Asia's richest man, Gautam Adani, and billionaire Mukesh Ambani, the owner of Reliance Industries have entered the fray to acquire India's debt-laden Future Retail Ltd.

** Quarterly profit at India's Eicher Motors fell short of analysts' estimates on Thursday, as costs jumped 50% at the Royal Enfield motorcycle maker.

** Society of Indian Automobile Manufacturers will release the auto industry sales data for October.

** State-run Steel Authority of India Ltd posts Sept-quarter net loss versus profit yr ago.

** India's Coffee Day Enterprises posts Sept-quarter consol net profit versus loss year ago.

** Indian food delivery firm Zomato on Thursday reported a narrower loss for the second quarter thanks to a rise in volumes and value of online orders.

** An Indian court on Thursday sent a director of local drugmaker Aurobindo Pharma to custody for a week in a probe related to the Delhi city government's liquor policy. 

First Published: 11 Nov 2022, 08:40 AM IST