
Bombay Stocks Close Higher
Bombay stocks returned to their winning ways Monday behind strength in cement and steel names.
The BSE Sensex rose 73 points to close at 11,663, shrugging off Friday's hefty afternoon selloff.
The top gainer was
Tata Steel
, up 7% as the company mulls a bid for South Africa's Highveld. Chemical company
Grasim
added 4.6% and cement maker
Gujarat Ambuja
moved up 3.9%.
Tata Motors
(TTM) - Get Report
gained 2.4%.
Losers included
State Bank of India
and home mortgage lender
HDFC
, each of which shed 1.5%. Car maker
Maruti
fell 1.1%.
Viscose filament maker
Aditya Birla Nuvo
climbed 2.1% on reports that it plans to buy 15% of Idea Cellular. Aluminium major
Hindalco
gained 2.7% on the news that its Aditya Birla Minerals unit is raising 293 million Australian dollars through an offering and listing on the Australian Stock Exchange.
This story was created through a joint venture between TheStreet.com and IRIS.