Indian shares rise 1.8 pct on budget hopes =2

Published: 12 Feb 2009 23:04:21 PST

MAIN TOP 3 BY VOLUME

* Hexaware Technologies <HEXT.BO> on 5.6 million shares

* Spice Communications <SPCM.BO> on 5.2 million shares

* Unitech <UNTE.BO> on 2.5 million shares

STOCKS ON THE MOVE

* Maytas Infra <MAIL.BO> rose 4.1 percent to 59.50 rupees after the Economic Times newspaper reported two small local firms are vying for control of the construction firm linked to fraud-hit Satyam Computer Services Ltd <SATY.BO>.

* Rail wagon makers Kalindee Rail <KALI.BO>, Titagarh Wagons <TITW.BO> and Texmaco <TEXM.BO> were up 5-7 percent ahead of the interim railway budget on hopes the government will add more capital assets and revise investment schemes.

FACTORS TO WATCH * Indian rupee up on weak dlr overseas, share gains [INR/] * Indian bond yields rise ahead of supply [IN/] * FOREX-Yen falls broadly as regional shares rise [FRX/] * Asian shares gain on governments' actions [MKTS/GLOB] * U.S. oil rises above $34 on stocks rally, govt action [O/R] * Obama mortgage plan news spurs late rally [.N] * For closing rates of Indian ADRs <INADR>