Indian shares rise as Tech Mahindra leads IT cos

BENGALURU (Reuters) - Indian shares edged up on Monday, helped by gains in heavyweight information technology shares led by a rally in Tech Mahindra after the company named a new chief executive, while investors awaited inflation data due later in the day.

The Nifty 50 index rose 0.6% to 17,519.05, while the S&P BSE Sensex gained 0.6% to 59,474.30, as of 09:25 a.m. IST.

Shares of Indian IT services provider Tech Mahindra surged 8% after it named Mohit Joshi as chief executive officer.

Retail inflation in India likely eased to 6.35% in February, but stayed above the Reserve Bank of India's upper threshold for a second straight month, a Reuters poll of 43 economists showed.

Meanwhile, U.S. authorities on Sunday announced plans to limit the fallout from the collapse of Silicon Valley Bank.

Yes Bank Ltd shares fell 13% after the company said locked-in shares have been released on March 13 after the period ended as a part of the lender's restructuring.

($1 = 81.9600 Indian rupees)

(Reporting by Nallur Sethuraman and Nishit Navin in Bengaluru; Editing by Janane Venkatraman)