Stocks to watch: Bharti Airtel, TVS Motor, Nazara Tech, Macrotech Developers, Indus Towers, United Spirits in news today

India’s NSE stock futures listed on the Singapore Exchange were down 0.19% at 18,099.50, at 07:37 AM IST.

S&P Global’s Flash Composite Output Index in the US rose to 46.6 in December, official data showed. A reading below 50 indicates a contraction in business activity, and raises the prospect of a near-term recession in the world’s largest economy.

Wall Street equities were mostly lower with the S&P 500 and Nasdaq Composite logging losses, while the Dow Jones Industrial Average closed with a 0.3% gain. Most Asian shares were closed on Wednesday. [MKTS/GLOB]

Crude oil prices slipped below $87 per barrel on concerns of a global economic slowdown. A fall in crude oil prices may limit losses in domestic equities, as crude oil forms a major part of the import bill of oil importing countries like India.

On the domestic front, investors are awaiting corporate earnings from several Nifty 50 constituents including Tata Motors, Bajaj Auto, Dr Reddy’s and Cipla.

Foreign institutional investors sold shares worth 7.61 billion rupees ($93.24 million) on a net basis on Tuesday, while domestic institutional investors bought equities worth 11.45 billion rupees on a net basis.

stock to watch

** Bharti Airtel: The company hikes the basic tariff by around 57% to Rs 155 in seven circles.

** TVS Motor: Co beats third quarter profit estimates on price hike.

** Nazara Technologies: The company reported a rise in consolidated net profit in the third quarter.

** Macrotech Developers: The company reported a rise in third quarter consolidated net profit on deferred tax gain.

** Indus Towers: The company posted a loss in the December quarter due to continued shortfall in collections from one of its key customers.

** United Spirits: The company’s net profit declined in the third quarter due to a decrease in sales and a rise in expenses.