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BENGALURU, July 26 (Reuters) - Indian shares advanced on Wednesday, boosted by gains in index heavyweights Reliance Industries, Larsen & Toubro (L&T) and Tata Motors, ahead of the U.S. Federal Reserve's monetary policy decision. Automaker Tata Motors (TAMO.NS) jumped as much as 4.06% to a record high after reporting a better-than-expected profit in the June quarter and a capital restructuring plan. Index heavyweight L&T (LART.NS) climbed 3.71% to a record high on strong first-quarter results and approval of a share buyback plan. L&T and Tata Motors were the top Nifty 50 gainers. In contrast to Indian equities, Asian peers were subdued ahead of the Fed policy decision, due at 11:30 p.m. IST.
Persons: Toubro, Anita Gandhi, Rahul Sharma, Bharath Rajeswaran, Dhanya Ann Thoppil, Eileen Soreng Organizations: Reliance Industries, Larsen, Tata Motors, U.S, U.S . Federal, BSE, Arihant, Thomson Locations: BENGALURU, U.S ., Qatar, Bengaluru
Adani Group has denied the allegations, saying it complies with all laws and has made necessary disclosures over time. On Monday though, Adani Group said it will pre-pay $1.11 billion of loans on shares. Separately, JPMorgan on Tuesday said the group companies were still eligible for inclusion in the bank's bond indexes. The cumulative losses of Adani group's seven listed companies still stand at $109 billion despite Adani Ports and Special Economic Zone (APSE.NS) also gaining 2.6% on Tuesday and Adani Wilmar (ADAW.NS) adding 5%. Many Adani group companies report results this week.
Indian shares tread water ahead of Fed rate hike
  + stars: | 2022-09-21 | by ( Sethuraman N R | ) www.reuters.com   time to read: +2 min
REUTERS/Francis MascarenhasBENGALURU, Sept 21 (Reuters) - Indian shares swung between small gains and losses in volatile early trading on Wednesday ahead of an expected hefty interest rate hike by the U.S. Federal Reserve to tackle inflation. Rate futures traders are pricing in an 81% chance of a 75-basis-point (bps) hike and a 19% probability of a jumbo 100 bps increase. FEDWATCHRegister now for FREE unlimited access to Reuters.com Register"We need to wait and watch the outcome of the Fed even though a 75 bps rate hike is discounted by the markets," said Anita Gandhi, director at Arihant Capital Markets. read moreThe Nifty fast-moving consumer goods index (.NIFTYFMCG) was the top gainer among major sectors, rising 1%, while the bank index (.NSEBANK) was the top drag, falling 0.6%. Among stock, shares of Central Bank of India (CBI.NS) jumped as much as 15% after the Reserve Bank of India took the state-owned commercial bank off its prompt corrective action list.
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