scorecardresearchStocks To Watch: Paytm, HDFC, Power Finance, REC, SJVN, Ultratech Cement, Bank of Baroda and some stocks in news today

Stocks To Watch: Paytm, HDFC, Power Finance, REC, SJVN, Ultratech Cement, Bank of Baroda and some stocks in news today

Updated: 14 Dec 2022, 08:12 AM IST
TL;DR.
U.S. markets gained after data showed consumer price index in November rose 0.1%, after advancing 0.4% in October. Economists polled by Reuters had forecast the CPI gaining 0.3%.
BSE expects greater trades and liquidity in the days ahead as it continues to educate the market and onboard new members (Hindustan Times Media Mint Delhi)

BSE expects greater trades and liquidity in the days ahead as it continues to educate the market and onboard new members (Hindustan Times Media Mint Delhi)

(Reuters) - Indian shares were set to rise on Wednesday, after U.S. consumer prices rose less than expected in November, fuelling expectations the Federal Reserve will slow the pace of rate increases.

India's NSE stock futures listed on the Singapore exchange were up 0.51% to 18,795.50, as of 7:35 a.m. IST.

U.S. markets gained after data showed consumer price index in November rose 0.1%, after advancing 0.4% in October. Economists polled by Reuters had forecast the CPI gaining 0.3%.

The slowdown could lead the Fed to scale back the size of rate hikes at its policy meeting that ends on Wednesday. Fed's rate hike decision is scheduled to be announced at 1900 GMT.

Asian markets opened higher with the MSCI Asia ex Japan rising 0.72%.

Capping the gains could be oil prices, which rose the most in a month on Tuesday on concerns over supply disruptions due to the ongoing shutdown of the Canada-to-United States Keystone crude pipeline.

The rise in oil prices is a negative for oil-importing countries like India, where crude constitutes the bulk of the import bill.

Foreign institutional investors snapped their six-day selling spree, the longest in seven weeks, and purchased 6.20 billion Indian rupees ($75.27 million) worth of equities on a net basis on Tuesday.

Meanwhile, domestic investors bought 367.5 million Indian rupees ($4.46 million) worth of shares, as per provisional NSE data.

Stocks To Watch:

** One 97 Communications: Co to buyback 10.5 mln shares for up to 8.50 billion rupees at a maximum of 810 rupees per share.

** HDFC, HDFC Bank: BSE and NSE gave in-principle nod for the transfer of non-convertible debentures issued by HDFC to HDFC Bank, subject to NCLT approval.

** Power Finance Corp, REC, SJVN : Four Indian state-run power companies (including Damodar Valley Corp) are close to buying a 1,980-megawatt power plant from collapsed conglomerate Lanco Infratech for 30.2 billion rupees, reports Reuters.

** Ultratech Cement: Co-commissioned 1.9 MTPA greenfield clincker-backed grinding capacity at Pali Cement Works in Rajasthan.

** Bank of Baroda: Co to divest 98.57% stake in Nainital Bank. ($1 = 82.3750 Indian rupees)

First Published: 14 Dec 2022, 08:12 AM IST