Indian shares rise 0.2 pct; Tata Steel gains

* Investors look to enter market after 3.3 pct fall in 4
days

* Worries about weak monsoon, global recovery persist

* Tata Steel, Mahindra & Mahindra among major gainers

* BHEL rises after chairman sees $2.5 bln orders in 4-6
weeks
(Updates to mid-morning)

MUMBAI, Sept 4 (Reuters) - Indian shares nudged up 0.2
percent on Friday after falling 3.3 percent over the past four
days, but worries about a weak monsoon and doubts over the
sustainability of a global recovery kept investors cautious.

"Even though there is a rise today, there is not much
conviction," Ambareesh Baliga, vice president at Karvy Stock
Broking, said. "There are no triggers to lead the market
significantly higher."

Tata Steel (TISC.BO), the world's 8th largest steel maker,
rose 1.9 percent to 428.75 rupees, and top utility vehicle
maker Mahindra & Mahindra (MAHM.BO) gained 2.8 percent to
836.50 rupees, leading the main index higher.

Energy giant Reliance Industries (RELI.BO), which has the
most weight in the main index, climbed 0.6 percent to 1,943
rupees.

Top power-equipment maker Bharat Heavy Electricals
(BHEL.BO) advanced 0.3 percent to 2,203.95 rupees after its
chairman told Reuters it expects to tie up orders worth about
$2.5 billion in the next 4-6 weeks as private firms step up
investment in the power sector. [ID:nBOM451809]

By 11:20 a.m. (0550 GMT), the 30-share BSE index .BSESN
was up 0.2 percent at 15,435.81 points, with 22 stocks
advancing, after briefly turning negative earlier.

Profit-taking in equity markets worldwide had dragged down
the benchmark in the first four days of this week, its longest
losing run since mid-July, after it rallied in the previous
seven sessions.

Excess funds flowing into emerging markets are expected to
support stocks in the near term as investors look to buy on
dips despite concerns about the impact of poor rainfall on farm
output and economic growth, analysts said.

Economic data from several countries including the United
States have produced some upbeat news, indicating that a
recovery from the deepest global downturn since World War Two
is slowly gaining traction.

But some analysts are worried the recovery leans too
heavily on expensive government efforts, and that investors
have gotten ahead of themselves in pricing in a recovery.

In the broader market, gainers led losers 1,293 to 995 on
relatively moderate volume of 120 million shares.

The 50-share NSE index .NSEI was up 0.2 percent at
4,604.70.

Asian shares were mixed, with Japan's Nikkei .N225 down
0.3 percent, while MSCI's measure of other Asian markets
.MSCIAPJ rose 0.5 percent.

MAIN TOP 3 BY VOLUME

* NHPC (NHPC.BO) on 7.3 million shares

* Suzlon Energy (SUZL.BO) on 4.4 million shares

* Uttam Galva Steels (UTTM.BO) on 3.9 million shares

STOCKS ON THE MOVE

* Amtek Auto Ltd (AMTK.BO) jumped 9.5 percent to 173.20
rupees after the the auto component maker opened a foreign
currency convertible bond issue to raise $175 million.
[ID:nBOM432175]

* UTV Software Communications Ltd (UTVS.BO) rose 2.4
percent at 476.45 rupees, after the company said its board
approved raising 1 billion rupees.

* JSW Steel Ltd (JSTL.BO) gained 2.4 percent to 687 rupees
after the company said its August crude steel output has risen
53 percent to 0.5 million tonnes. [ID:nBMB008470]

FACTORS TO WATCH
* For technical analysis double click on www.reutersindia.net
* Indian rupee gains on firm stocks; dlr moves eyed
[INR/]
* Indian bond yields rise ahead of debt auction
[IN/]
* Dollar holds ground vs yen in pre-payrolls vigil
[FRX/]
* Oil steady above $68, awaits US jobs data [O/R]
* Asia shares subdued, gold supports Aussie dlr [MKTS/GLOB]
* Wall St ends up on surprising retailers' sales

[.N] * For closing rates of Indian ADRs

INADR (Reporting by Pratish Narayanan; Editing by
Ranjit Gangadharan)