The BSE Sensex edged 0.2 percent higher early on Wednesday, with Tata Steel rebounding after falling initially.

At 9:17 a.m. (0347 GMT), the 30-share BSE index was up 0.15 percent at 18,301.73 points, with 17 components advancing.

Tata Steel reversed early losses and climbed more than 1 percent. The world's No. 7 steelmaker said late on Tuesday its quarterly net profit more than doubled, driven by demand and pricing in Europe and robust growth at its Indian operations.

But the company lagged estimates as higher raw material costs squeezed margins.

Unitech slipped 2.7 percent after Indian police on Tuesday questioned a top executive of the real estate developer as part of a probe into a telecoms corruption scandal that has roiled politics.

The 50-share NSE index was up 0.04 percent at 5,483.25.