INDIA STOCKS Indian shares tipped to open lower as recession risks loom

A general view of the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021. REUTERS/Francis Mascarenhas

BENGALURU, Sept 28 (Reuters) - Indian shares are expected to open lower on Wednesday, mirroring Asian peers, as risk aversion remained unabated on worries over a global recession.

India's NSE stock futures listed on the Singapore exchange were down 1.1% as of 0216 GMT, while MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 1.7%.

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

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

Foreign institutional investors sold a net 28.24 billion Indian rupees ($345.63 million) worth Indian equities on Tuesday, while domestic investors purchased net 35.05 billion rupees worth shares, as per provisional data available with the National Stock Exchange.

Stocks to watch:

** India's Axis Bank (AXBK.NS) said it was looking to buy nearly 10% stake in Go Digit Life Insurance. read more

** India's Torrent Pharma (TORP.NS) will acquire Curatio Health Care for $245 million. read more

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

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

** India's shadow lender Piramal Capital and Housing Finance said the demand for loans is not showing any signs of slowdown. read more

** KPI Green Energy (KPIG.BO) crosses cumulative consolidated solar power project capacity of 200+ Mwp. The company also secured an order from M. S. Synthetics.

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

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

** Mahindra and Mahindra (MAHM.NS) said it sold 8.2 million shares of Mahindra CIE Automotive.

** SML Isuzu (SMLI.NS) said it expects sales volume to increase and that export volumes would likely increase considerably in next 3-5 years.

** BHEL secured an order from NTPC for setting up 2x660 MW Talcher thermal power project stage-3.

** India's IFCI (IFCI.NS) approved preferential issue of equity share capital worth up to 1 billion rupees to the India government.

** India's Wherrelz IT Solutions (WHER.BO) signed an agreement with Fedex Securities.

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

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

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

Reporting by Nallur Sethuraman in Bengaluru; Editing by Savio D'Souza

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