Tata Teleservices locked at 10% upper circuit for 2nd day

Shares of Tata Teleservices (Maharashtra) were locked at 10 percent upper circuit for the second consecutive session Thursday, when the BSE Sensex lost more than 500 points.

On Wednesday, the company had said it would hold extra-ordinary general meeting to consider issue of bonus shares for complying with the minimum public shareholding norms.

"...the board of directors proposes to issue bonus shares with the promoter/promoter group forgoing their entitlement to the bonus shares, call for an extra-ordinary general meeting of the members of the company and fix the record date for the purpose of the bonus issuance," the company said in its filing on the BSE.

The stock was quoting at Rs 7.30 on the Bombay Stock Exchange. There were pending buy orders of 139,583 shares, with no sellers available.