(Corrects attribution of news in paragraph 6 and to $100
billion from $100 million in paragraph 7)
BENGALURU, Feb 13 (Reuters) - Indian shares are set for
a muted start on Monday, as investors await domestic retail
inflation data today as well as U.S. inflation data due later in
the week, amid uncertainty over the Adani Group.
India's NSE stock futures listed on the Singapore exchange were down 0.12% at 17,856 as of 8:05 a.m. IST.
Wall Street equities closed lower on Friday, on fears of a
longer-than-expected high-rate regime after hawkish comments
from key Federal Reserve officials.
Asian markets fell, with the MSCI's broadest index of
Asia-Pacific shares outside Japan sliding 0.71%. Investors await India's retail inflation data for January,
due today. A Reuters poll of economists showed that India's
annual retail inflation rose from a 12-month low in December,
but stayed within the 6% upper limit of RBI's tolerance band in
January.
Adding to the concerns in domestic equities is the
uncertainty over the Adani conglomerate, which has halved its
revenue growth target and plans to scale down fresh capital
expenditure, Bloomberg News reported.
The group has lost over $100 billion in market value since
Jan. 24, when U.S. short-seller Hindenburg Research accused the
conglomerate of stock manipulation and improper use of tax
havens.
India's market regulator is already probing the group's
links to some of the investors in its scrapped $2.5 billion
share sale of the flagship Adani Enterprises.
STOCKS TO WATCH
** ABB India : Co reports rise in Q3 net profit,
recommends dividend of 5.5 rupees per share.
** PB FinTech : Co reports narrowing of loss in
third quarter.
** Delhivery : Co reports widening of consolidated
loss in Q3.
** Kotak Mahindra Bank : Bank to buy microfinance
lender Sonata Finance for $65 mln.
($1 = 82.5250 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Janane Venkatraman)
+919769003463))
