Bombay Stocks Close Higher

Indian stocks rose Tuesday as drugmaker

Dr. Reddy's

(RDY) - Get Report

surged.

The BSE Sensex rose 0.88% to 10,168 on gains in auto, pharma and engineering stocks. The NSE Nifty closed at 3036, up 1%.

The major gainers on BSE Sensex were Dr. Reddy's, up 4.3%, engineering and construction major

L&T

, up 4%, and engineering firm

Bhel

, up 2.5%.

Motorcycle maker

Bajaj Auto

soared 6.5% after posting a 28% January sales gain.

Shree Renuka Sugars

rose 1.8% on plans for a new refinery in Haldia.

Ceramics outfit

Carborundum Universal

gained 3.8% on reports that the company has acquired the business of Abrasive Enterprise of Canada.

The major losers on the BSE Sensex were

Hindustan Lever

, down 0.7%, cement maker

Grasim Industries

, down 0.6%, and refiner

Reliance Industries

, down 0.5%.

Anil Ambani-controlled

Reliance Capital Ventures

was listed on the Bombay Stock Exchange at 24.80 rupees and on the National Stock Exchange at 24.50.

This story was created through a joint venture between TheStreet.com and IRIS.