Indian shares seen up as world stocks rebound

MUMBAI, Feb 2 (Reuters) - Indian shares are set to open
higher on Tuesday, as world stocks rebounded after data showed
U.S. manufacturing expanded in January at its fastest pace
since 2004.

India's top vehicles maker Tata Motors (TAMO.BO) and top
motorbike maker Hero Honda HROH.BO are likely to gain after
they said their January sales rose 77 percent and 24 percent
respectively. [ID:nBMA006916] [ID:nBMA006915]

"Our market looks good today on recovery in world markets
due to good U.S. manufacturing data," said Mehul Dedhia,
assistant vice-president of sales at Mumbai-based brokerage
Sharekhan.

Non-ferrous metals producer Sterlite Industries (STRL.BO)
may see some upside tracking a rise in copper prices.

Cement maker ACC (ACC.BO) may gain after it said on Monday
shipments in January rose 1.1 percent to 1.91 million tonnes.
[ID:nBMA006917]

State-owned power producer NTPC Ltd.'s (NTPC.BO) follow-on
public offering of shares intends to raise at least 82.87
billion rupees ($1.8 billion) at a floor price of 201 rupees a
share, an advertisement in the Economic Times newspaper showed.

Asian shares were firm with the MSCI's measure of Asian
markets other than Japan .MSCIAPJ gaining 1.4 percent by 0254
GMT, while Japan's Nikkei .N225 climbed 1.9 percent.

The Nifty India stock futures in Singapore SINc1 were up
0.9 percent, indicating the domestic market may open higher.

On Monday, the 30-share BSE index .BSESN closed down 0.01
percent, or 1.93 points, at 16,356.03. ----------------MARKET
SNAPSHOT AT 0254 GMT----------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1089.19 1.43% 15.320
USD/JPY JPY= 90.84 0.28% 0.250
10-YR US TSY YLD US10YT=RR 3.6676 -- 0.012
SPOT GOLD XAU= $1103.95 -0.12% -1.350
US CRUDE CLc1 $74.86 0.58% 0.430
DOW JONES .DJI 10185.53 1.17% 118.20
ASIA ADRS .BKAS 125.02 2.24% 2.74
-------------------------------------------------------------
STOCKS TO WATCH

* India's No.2 mobile operator Reliance Communications
(RLCM.BO), after a top official said the company lowered its
capex for FY11 to 30 billion rupees from 45 billion rupees in
FY10. [ID:nSGE6102F5]

* Infrastructure play GVK Power and Infrastructure Ltd
(GVKP.BO), after it said its unit achieved a financial closure
for a 540 MW thermal power project. [ID:nSGE6102HI]

* Oral and dental hygiene maker Colgate Palmolive (India)
Ltd (COLG.BO), after it acquired the remaining 25 percent in
its unit Professional Oral Care Products Pvt Ltd for 24 million
rupees.[ID:nSGE6102IT]

* Textiles maker Alok Industries Ltd (ALOK.BO), after a top
official said it plans to encash its real estate portfolio and
eventually exit the real estate business, to raise funds and
retire debt. [ID:nSGE6102IH]

FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee to gain on firm Asian shares; dollar
[INR/]
* Dlr off 6-mth highs, Aussie up ahead of rate call
[FRX/]
* Oil tops $75 on optimism about U.S. recovery
[O/R]
* U.S. data lifts stocks; dollar slips vs euro
[MKTS/GLOB]
* Wall St rallies on ISM manufacturing data, Exxon
[.N]
* For closing rates of Indian ADRs
INADR
(Reporting by Ami Shah and Ketan Bondre; Editing by XXXXXX)