Indian shares may open lower on Wednesday on mostly weak Asian cues, but a steep fall is improbable as healthy foreign fund flow will keep the undertone bullish. Foreign funds have pumped $28.3 billion in Indian primary and secondary equities so far in 2010. Tata Motors will be watched out after the vehicles manufacturer posted surging quarterly profit, topping forecasts on demand in India and improving performance by its Jaguar and Land Rover unit, and said rising commodity costs may drive price increases.

Aluminium maker Hindalco will be also be watched after it posted a 26-percent rise in its quarterly net profit, but lagged forecasts. Top mobile operator Bharti Airtel, which is expected to unveil its quarterly earnings ahead of market open, will be watched. A poll conducted last month with 12 brokerages month had predicted that Bharti’s net profit for September quarter could decline 18.9 percent from a year ago to 18.36 billion rupees.

Stocks Worth Keeping an eye on
* Real estate developer Brigade Enterprises after its board approved the joint development agreement for 21 acres of land in Chennai, expected to generate revenues of 5.5 billion rupees.
* United Breweries Holdings after it said its September-quarter net profit rose 19 percent to 107.7 million rupees.
* Vaccine maker Panacea Biotec after its net profit for the September quarter soared to 168.7 million rupees.
* Edserv Softsystems after it said its board will meet on Wednesday to consider fund raising through issue of shares, warrant or convertible debentures on a preferential basis.