Indian stocks may bounce back by the end of 2013 if the rupee recovers, the current account deficit improves and foreign fund inflows get back on track, experts said.

A drought last year and heavy rainfall this year have sent onion prices soaring and wholesalers say that situation is unlikely to improve soon.

After it fired Andrew Mason in February amid growing concerns about the company's financial performance, Groupon Inc has named co-founder Eric Lefkofsky as its CEO.

After gaining over 223 points in the early trade, the S&P BSE benchmark Sensex on Thursday fell 29 points, extending its losing run to the seventh day, as jittery investors offloaded their positions in realty, PSU, oil & gas and metal shares, amid subdued manufacturing trend.

Drug Controller General of India (DCGI) G. N. Singh also said medicines sold in India are safe, ruling out any reason for panic.

India's largest IT services exporter topped market expectations, growing its net profits for the June quarter by 5.5 per cent to Rs 3,796 crore, or Rs 19.40 a share, over the previous quarter. 

Shares of Idea Cellular rose by 3.84 per cent to Rs 163.50 - its record high on the BSE, while Reliance Communications jumped 3.66 per cent to touch its 52-week high of Rs 151.25. Bharti Airtel was also up 1.94 per cent.

The rupee fell from a two-week high to close three paise lower at 59.34 against the dollar in India, failing to sustain gains driven by the easing of FDI norms in various sectors and the RBI's liquidity-tightening measures.

Reliance Communications' shares jumped over 7 per cent after the company announced it is hiving off its real estate assets into a separate listed company.

Reliance Communications (RCom) saw its shares surge over 12 per cent on the bourses after the company said it has made full repayment of foreign currency loans amounting to $1 billion.

With some judicious deals, Anil Ambani is getting ready to sprint ahead in the telecom business by turning around Reliance Communications, his Rs 20,561-crore telecom venture saddled with a debt of Rs 38,864 crore.

The stock hit a 52-week low on Tuesday after CBI registered a fresh case against the company in the coal scam. But the sharp correction prompted many brokerages to upgrade it.

At 11.25 am, the shares of the company were down 19.08 per cent at Rs 74.45. Similarly on Nifty the shares were down 19.52 per cent at Rs 74 during the same time.

However, at the end of the day, the stock closed at Rs 116.40, down 1.40 per cent from its close on Thursday at Rs 118.05.

There is much speculation that the company is in talks to acquire Sweden-based Meda for $5 billion. If it happens, this will be the biggest overseas acquisition by an Indian pharma company.

Shares of the company surged 7.09 per cent to Rs 1,066.10 on the Bombay Stock Exchange. Intra-day, the stock zoomed up by 8.47 per cent to 52-week high of Rs 1,079.90.

Shares of JM Financial closed the day's trade 13.38 per cent higher at Rs 26.70 on the Bombay Stock Exchange (BSE). Intra-day, the stock surged 16.77 per cent to Rs 27.50 - its 52-week high.

The company has reported a consolidated net profit of Rs 710.31 crore for the quarter ended March 31, against Rs 239.46 crore during the corresponding quarter of 2011-12.

Shares of Hindustan Unilever Ltd on Tuesday shot up by over 17 per cent, adding Rs 18,550 crore to market cap, after its parent Unilever Plc said it will spend $5.4 billion (over Rs 29,380 crore) to raise stake in HUL to 75 per cent through an open offer.

Idea Cellular shares soared nearly 11 per cent to touch a one-year high level, after the mobile operator posted 29 per cent jump in consolidated net profit for the fourth quarter ended March 31.