By Bharath Rajeswaran
BENGALURU, March 3 (Reuters) - Indian shares were set to
open higher on Friday, after U.S. investment firm GQG Partners'
almost-$ 2 billion investment in Adani stocks helped lift
sentiment, turning foreign investors into buyers after a
six-session hiatus.
India's NSE stock futures listed on the Singapore exchange were up 0.58% at 17,456.50, as of 8:02 a.m. IST.
Broader Asian markets too were up on Friday, following Wall
Street equities ending higher overnight after Atlanta Fed
President Raphael Bostic said he favoured a "slow and steady"
quarter-point U.S. rate hike in the upcoming policy meeting.
The MSCI's broadest index of Asia-Pacific shares outside
Japan added 0.47%. Meanwhile, U.S. boutique investment firm GQG Partners Inc bought shares worth $1.87 billion in four Adani group
companies, the first major investment in the Indian conglomerate
since a short-seller's critical report sparked a stock rout.
Two analysts said the investments will help investor
sentiment in the Adani Group in the short term.
Foreign institutional investors (FII) bought a net 127.71
billion rupees worth of equities on Thursday, aided by the
154.46 bln rupees investment in Adani group companies.
STOCKS TO WATCH
** Adani Enterprises , Adani Ports , Adani
Green , Adani Transmission : U.S. investment
firm GQG Partners buys shares worth $1.87 bln in four Adani
group companies.
** Mahindra & Mahindra Financial Services : Co
estimates total disbursement of 41.85 bln rupees in February
2023, up 53% year-on-year.
** Titagarh Wagons : Consortium of Titagarh Wagons
and BHEL emerges as second lowest bidder for manufacturing and
maintenance of Vande Bharat trainsets; eligible to get 80
trainsets.
** MOIL : Co reports 10% jump in production of
manganese ore in February. ($1 = 82.4900 Indian rupees)
(Reporting by Bharath Rajeswaran in Bengaluru; Editing by
Nivedita Bhattacharjee)
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