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Indian shares to tread water; Tata Steel, RCom eyed
MUMBAI, Nov 15 (Reuters) - Indian shares are seen opening steady on Monday, with quarterly earnings deciding stock-specific moves and monthly inflation data due around 0630 GMT seen providing more cues.
Wholesale price index INWPI=ECI in October probably rose 8.44 percent from a year earlier, a touch slower than its 8.62 percent increase in September, a Reuters poll showed. [ID:nSGE6AB0DK]
Tata Steel (TISC.BO) will be in focus after the steelmaker reported forecast-beating quarterly results late last Friday on better demand and higher prices, and said it would raise up to $1.6 billion in additional capital. [ID:nSGE6AA0O4]
Tata Power (TTPW.BO) will be watched after the top private-sector utility said late last Friday its September-quarter net profit rose 36 percent. [ID:nBMA008860]
Reliance Communications (RLCM.BO) will also be on the radar after the second-largest mobile operator reported a 40-percent drop in quarterly profit -- its fifth-straight quarter of profit fall, which however was smaller than expected. [ID:nSGE6AC03X]
The MSCI's measure of Asian markets other than Japan .MIAPJ0000PUS was almost flat at 0250 GMT, while Japan's Nikkei .N225 was trading 0.7 percent higher.
The Nifty India stock futures in Singapore SINc1 were barely changed.
On Friday, the 30-share BSE index .BSESN shed 2.1 percent to 20,156.89 points.
STOCKS TO WATCH
* Adani Power (ADAN.BO), after a senior executive said on Sunday it was looking at acquisition opportunities overseas for coal mines and power plant and would raise its power generation capacity in India to 2,000 megawatts by December. [ID:nSGE6AD02Y]
* IT firm Tech Mahindra Ltd (TEML.BO), after it said late last Friday it would find it difficult to sustain operating margins seen in the fiscal second quarter as the company copes with currency volatility and strong competition. [ID:nSGE6AB0JX]
* Indian Oil Corp (IOC.BO), after it reported a surge in September-quarter profit to 52.9 billion rupees. [ID:nSGE6AC03I]
FACTORS TO WATCH * For technical analysis double click on www.reutersindia.net * Indian rupee report [INR/] * Indian bond report [IN/] * Euro burdened by Ireland, USD gets lift from yields [FRX/] * NYMEX-Crude inches higher on dip buying [O/R] * Stocks steadier after fall; sentiment fragile [MKTS/GLOB] * Wall St slips on China inflation worries; fear rises [.N] * For closing rates of Indian ADRs INADR (Reporting by Ami Shah and Swati Pandey; editing by Malini Menon)
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