BENGALURU (Reuters) - Indian shares are likely to open higher on Friday on rising bets of a September rate cut in the world's largest economy, while information technology stocks will be in focus after heavyweight Tata Consultancy Services beat revenue estimates for the June quarter.

The GIFT Nifty was at 24,455 points as of 8:18 a.m. IST, indicating the NSE Nifty 50 is set to open higher than its closing level of 24,315.95 on Thursday. The benchmark indexes have been scaling record highs this month.

Tata Consultancy Services, India's top IT services company reported a quarterly revenue beat on Thursday, but warned about demand uncertainty.

"We believe TCS results confirm the bottoming out of the sector in terms of growth trends, however commentary pushed back hopes of any sharp recovery in the near term," analysts led by Gaurav Rateria of Morgan Stanley said.

U.S.-rate sensitive IT stocks could also be buoyed by soft inflation data, which boosted bets of a Federal Reserve rate cut in September.

The odds of a 25 basis point cut rose to 85% after U.S. consumer prices unexpectedly fell in June, compared to 70% a day before, according to CME FedWatch.

The report followed Fed Chair Jerome Powell's testimony to lawmakers earlier in the week where he said that "more good data" would build the case for interest rate cuts.

Meanwhile, India's retail inflation is expected to be close to 5% in June, in line with Reserve Bank of India's expectations but still above 4% target to start talking about lowering interest rates, central bank chief Shaktikanta Das told local media on Thursday.

The data is due after closing bell.

STOCKS TO WATCH:

- Adani Ports: Company to invest $1.2 billion in transshipment terminal, per report

- Jio Financial: Company got nod from the country's cenbank for conversion of company from non-banking financial firm to core investment company

- Mahindra & Mahindra: Automaker's June total vehicles' sales increased 11.5% y/y

- HCL Technologies: India's no.3 software services company will report first-quarter earnings post the bell

($1 = 83.5470 Indian rupees)

(Reporting by Manvi Pant and Bharath Rajeshwaran in Bengaluru; Editing by Mrigank Dhaniwala)