Tata Teleservices (Maharashtra) or TTML is locked in upper circuit of 10% at Rs 6.64 after the company said its board propose to issue bonus shares to public shareholders to meet the minimum public shareholding requirement.

Shares of frontline non-banking finance companies (NBFC’s) like Mahindra and Mahindra Financial Services, Bajaj Finserv, Reliance Capital, L&T Finance Holdings have rallied up to 8% in anticipation of getting banking licenses.

Shares of telecom companies are trading higher for the third straight day with Reliance Communications and Idea Cellular hitting 52-week highs after the Telecom Regulatory Authority of India (TRAI) reduces ceilings for national roaming calls and SMS.

Vakrangee Softwares has surged 5% to Rs 78.75 after the company said its promoters have increased their holdings in the company by nearly 5 percentage points during past one month through open market transactions.

Religare Enterprises is trading higher by 3% at Rs 324 on the Bombay Stock Exchange (BSE) after the financial services firm said the promoters of the company will sell 22.75% stake in the company to meet the Reserve Bank of India's (RBI) eligibility

IDFC is trading higher 3% at Rs 147 after the board of the non-banking finance company approved a proposal to seek licence from the Reserve Bank of India (RBI) for setting up a bank.

Shasun Pharmaceuticals has dipped 5% to Rs 61 after the drug firm said that the operations at its Pondicherry facility have been affected due to strike by workers.

JM Financial is trading higher by 6.5% to Rs 28.80 after the financial services company said it has received shareholders approval for the issue of convertible warrants to Vikarm Pandit, along with his business partner Hari Aiyar on preferential basis.

Venus Remedies has surged 6.3% to Rs 291 after the company said it has received patent from Mexico for its novel antibiotic product Potentox.

Ranbaxy Laboratories has dipped 4% to Rs 350, its lowest level since September 2009, on the Bombay Stock Exchange (BSE). The stock opened at Rs 365 and has seen a combined 1.06 million shares changing hands on the counter till 1040 hours on BSE and NSE.

VA Tech Wabag has gained 3.3% at Rs 455 after the company in a joint venture with Pratibha Industries has won an Rs 262 crore order from Melamchi Water Supply Development Board, Nepal.

Panacea Biotech is trading higher by 10% to Rs 119, extending its previous day’s 20% rally on BSE, on back of heavy volumes.

Shares of telecom services provider are trading higher by up to 2% in otherwise subdued market after the Telecom Regulatory Authority of India (TRAI) announced reduction in the national mobile phone roaming charges, but said there will be no free national

Jet Airways (India) has moved higher by 4% at Rs 490, bouncing back 19% from intra-day’s low level, on back of heavy volumes.

Orchid Chemicals and Pharmaceutical is locked in upper circuit of 10% at Rs 52.65 after the company said its oral formulations facility at Irungattukottai near Chennai was successfully inspected and accepted by the US Food and Drug Administration (USFDA)

The company plans to divide one share of face value Rs 10 each into ten shares of Rs 1 each. It will also issue bonus shares to shareholders in the ration five to one, five shares for every one share held in the company.

Bharti Airtel has moved higher by 2.4% to Rs 296 after the telecom services provider has allotted around 200 million shares to Doha-based Qatar Foundation Endowment (QFE) for around Rs 6,796 crore.

Shares of rate sensitive sectors mainly realty, infrastructure and banking are under pressure and trading lower in the range of 1-3% after the Reserve Bank of India (RBI) keeps key policy rates unchanged at its mid-quarter policy review today.

Tata Motors is trading lower by 2% at Rs 292 after reporting 15% year-on-year (yoy) fall in global wholesale vehicle sales at 81,783 units in May 2013 led by the poor domestic performance in the passenger vehicle and medium and heavy commercial vehicle

Shares of Mahindra Group listed companies such as Mahindra and Mahindra, Mahindra Ugine Steel Company, Mahindra Forgings and Mahindra Composites have rallied up to 10% after entering into a share-swap arrangement with Spain’s CIE Automotive to