HCL Technologies Ltd rose as much as 4 percent after the software services company said its net profit for the quarter to end-December rose 43 percent.

At 9:18 a.m. (0348 GMT), the main 30-share BSE index was up 1.14 percent at 16,371.32, with all but one of its components in the red.

The 50-share NSE Nifty index was up 1.08 percent at 4,927.15.

Stocks More on HCL Tech

Company INFO More on TCS

SHARES (PREOPEN): Sensex seen opening flat, TCS earnings awaited

Indian shares are expected to open flat on Tuesday, as investors digest mixed economic news from across the world and look to results from Tata Consultancy Services Ltd to gauge expectations for the results season.

TCS, the leader of India's $76 billion IT services industry, is expected to report a 23 percent rise in quarterly profit mainly due to a fall in the rupee.

Any outlook guidance will be closely watched after rival Infosys Ltd last week cut its revenue growth outlook for the fiscal year ending in March due to the euro zone debt crisis.

State-run oil and gas firms GAIL (India) and Oil India could rise after both firms said they were in talks to buy energy assets from international companies.

India's headline inflation slowed in December to a two-year low as food price pressure eased dramatically, government data showed on Monday, but the central bank is expected to leave interest rates on hold next week.

Asian shares inched up on Tuesday as investors focused on economic data from China that showed GDP growth in the previous quarter hit a 2 and a half year low, but beat forecasts.

At 0300 GMT, the MSCI's broadest index of Asia Pacific shares outside Japan was up 1.38 percent, while Tokyo's Nikkei was up 0.6 percent.

The Nifty India stock futures in Singapore was little changed.

The main BSE index recovered from early losses to close up 0.2 percent on Monday, rallying on the inflation data to buck the negative news of sovereign rating downgrades in Europe.

STOCKS TO WATCH

* State Bank of India may rise after a TV channel reported that the leading lender has received the finance ministry's approval for capital infusion of 60 billion to 80 billion rupees ($1.2 billion-$1.6 billion).

* Tata Motors could gain after the truck and car maker said its global vehicle sales rose an annual 27 percent in December, driven by strong demand for its passenger cars and luxury Jaguar Land Rover vehicles.

* ING Vysya Bank may rise after the private sector lender posted a 44 percent rise in quarterly net profit.

* Reliance Industrial Infrastructure is likely to rise after the company posted a 22.5 percent rise in December quarter net profit.

FACTORS TO WATCH

* Euro extends gains vs dollar after China GDP data

* Oil prices gain after Iran warning

* Shares steady as China data eyed; Europe worries weigh