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)

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.