(Reuters) - Indian shares are expected to open higher on Wednesday after two straight sessions of gains, taking cues from other Asian equities, while investors awaited domestic earnings reports to gauge corporate health.
India's NSE stock futures, listed on the Singapore exchange , were 0.28% higher as of 0210 GMT. The MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.47%.
The NSE Nifty 50 index finished 0.47% higher at 18,202.80 on Monday, while the S&P BSE Sensex rose 0.39% to 61,185.15. The market was closed on Tuesday for a holiday.
Investors' focus will turn to a key U.S. inflation reading due on Thursday, which is expected to show easing consumer prices and provide hints to the U.S. Federal Reserve's rate outlook.
In domestic earnings, Tata Motors Ltd, Petronet LNG Ltd, Lupin Ltd and New Delhi Television Ltd are among the companies expected to report their quarterly results later in the day.
Foreign institutional investors bought net of 19.49 billion Indian rupees ($239.52 million) equities on Monday, while domestic investors sold 8.44 billion rupees of shares, as per provisional data available with the National Stock Exchange.
Stocks to watch:
** Digital payments firm Paytm reported a 76% jump in second-quarter revenue, helped in part by a surge in loan growth, while the company reiterated that it would turn profitable by September 2023.
** Oil and Natural Gas Corp has applied to the new Russian operator of the Sakhalin-1 to retain its stake in the oil and gas project in the Far East, a person familiar with the development told Reuters.
** State-run Coal India Ltd's quarterly profit more than doubled as production and offtake volumes at the world's largest coal miner increased due to higher power demand amid elevated global prices.
** IndiGo airline operator InterGlobe Aviation Ltd said on Monday it had grounded around 30 aircraft, or around 10% of its fleet, due to global supply chain disruptions.
** Jubilant FoodWorks Ltd, which runs the Domino's Pizza chain of restaurants in India, reported a near-10% jump in second-quarter profit on Tuesday, as people dined out more following the easing of COVID-19 restrictions.
** Medical diagnostics firm Dr. Lal PathLabs Ltd on Tuesday reported a 24.5% drop in September quarter profit as a sustained decline in revenue and volume from its COVID-19 related business and higher expenses weighed.
** Godrej Consumer Products on Tuesday reported a sharper-than-expected drop in second quarter profit, as expenses climbed, while Indonesia sales continued to decline.