Bombay Stocks Close Higher

Hindustan Lever rises.
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Bombay stocks closed modestly higher as steel stocks rose.

The BSE Sensex rose 19 points to 10,244.05 after earlier trading as high as 10,305.

With Chinese steel makers having increased prices, the Indian steel stocks rallied.

Steel Authority of India

jumped 6.4%,

Jindal Stainless

gained 4.7% and

Tata Steel

tacked on 2%. Elsewhere, motorcycle maker

Bajaj Auto

rose 3.1% and

Hindustan Lever

added 2.9%.

Agro-chemicals manufacturer

Syngenta India

rose 3.8% after the company posted a 33% rise in net profit.

Stocks dragging the index down in the final hours were India's largest drug manufacturer,

Ranbaxy

, down 2.6% on reports that the company suffered yet another legal setback in its bid to sell a generic version of cholesterol-lowering drug Atovastatin.

Grasim

, a flagship company of the Aditya Birla Group, dropped 2.5%, and leading aluminium producer

Hindalco

fell by 1.6%.

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