INDIA STOCKS Indian stocks set to open lower as recession risks loom – Reuters

BENGALURU, Sept 28 (Reuters) – Indian stocks are set to open lower on Wednesday, mirroring their Asian counterparts, as risk aversion remains unchanged on concerns over a global recession.

India’s NSE equity futures listed on the Singapore exchange were down 1.1% at 02:16 GMT, while the broadest MSCI index of non-Japan Asia-Pacific stocks (.MIAPJ0000PUS) was down. down 1.7%.

Indian markets are expected to remain constrained until the central bank’s policy decision on Friday, analysts said. The Reserve Bank of India’s three-day policy meeting begins on Wednesday.

The NSE Nifty 50 Index (.NSEI) and S&P BSE Sensex (.BSESN) closed at 17,007 and 57,107.52, respectively, on Tuesday.

Foreign institutional investors on Tuesday sold Indian stocks with a net worth of 28.24 billion Indian rupees ($345.63 million), while domestic investors bought stocks with a net worth of 35.05 billion rupees, according to provisional data available from the National Stock Exchange.

Actions to watch:

**Indian bank Axis Bank (AXBK.NS) said it was looking to buy a nearly 10% stake in Go Digit Life Insurance. Read more

**Indian Torrent Pharma (TORP.NS) to acquire Curatio Health Care for $245 million. Read more

** Housing Development Finance Corp (HDFC.NS) said HDFC Investments will sell a 12% stake in Softcell Technologies.

** Motherson Sumi Wiring India (MSWI.NS) will consider a proposal to issue bonus shares.

** Indian shell lender Piramal Capital and Housing Finance said demand for loans showed no signs of slowing down. Read more

** KPI Green Energy (KPIG.BO) exceeds the consolidated cumulative capacity of the solar power project by more than 200 Mwp. The company also secured an order from MS Synthetics.

**Rattanindia Power (RTNP.NS) said it was in talks with unit lenders, Sinnar Thermal Power for a resolution.

** Adani Enterprises (ADEL.NS) raised Rs 1 billion by allocating non-convertible debentures.

** Mahindra and Mahindra (MAHM.NS) reported selling 8.2 million shares of Mahindra CIE Automotive.

**SML Isuzu (SMLI.NS) said it expects sales volume to increase and export volumes are likely to increase significantly over the next 3-5 years.

** BHEL has obtained an order from NTPC for the implementation of stage 3 of the 2×660 MW Talcher thermal power project.

**The IFCI of India (IFCI.NS) has approved the preferential issue of equity capital worth up to Rs 1 billion to the Government of India.

** Indian company Wherrelz IT Solutions (WHER.BO) has signed an agreement with Fedex Securities.

**Bharat Rasayan (BRSN.NS) has elevated Rajender Prasad Gupta as CEO.

** Nettlinx (NOSC.BO) will consider raising funds for expansion.

** Bank of India (BOI.NS) has invested Rs 100 million in Open Network for Digital Commerce (ONDC). ($1 = 81.7050 Indian rupees)

Reporting by Nallur Sethuraman in Bangalore; Editing by Savio D’Souza

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