Stocks To Watch: Hindustan Copper, ONGC, Jaiprakash Associates And More

The Nifty futures on the Singapore Exchange, an early indicator of the Nifty performance in India, climbed 0.4 percent to 8,801.

Here are the stocks to watch out for in today’s session:

• Larsen & Toubro: Supreme Court allows Gujarat Maritime Board to en-cash Rs 5 crore bank guarantee given by L&T Infrastructure Development Projects. The guarantee was given for developing the Kucchigarh port in Gujarat, which L&T withdrew from later.
• Jaiprakash Associates: 88 percent of the company's shareholders approve the conversion of the company's debt into equity.
• Hindustan Copper: Government of India will sell its stake of 6.47 crore equity shares at a floor price of 62 per share through an offer for sale.
• Aviation Stocks & Oil Stocks: OPEC agrees to first oil production cut in eight years to tackle oil prices.
• 63 Moons (Financial Technologies India): Company’s current account with HDFC Bank has been frozen by the Enforcement Directorate. This is after its promoter Jignesh Shah was remanded into judicial custody till October 10.
• Hindustan National Glass and Industries: Shareholders allow the company to report to Board for Industrial and Financial reconstruction given that the company's accumulated losses have eroded more than 50 percent of its peak net worth.
• Pidilite Industries: Company announced a tie-up with WD-40 Company to distribute and sell WD-40's multi-use products.
• Manappuram Finance: Company allotted non convertible debentures worth Rs 150 crore on private placement basis.
• Ester Industries: Its wholly-owned arm in America has been dissolved voluntarily as it was not functional for the past several years.
• IL&FS Engineering and Construction: Company seeks curing period for redemption of preference shares as its plan to raise Rs 500 crore may stretch to six months.
• Allahabad Bank: Company's shareholders approved allotment of 42.3 lakh shares to the government and 1.64 crore shares to Life Insurance Corporation of India at Rs 78.01 per share.
• United Breweries (Holdings): Company's net profit for April to June quarter rises 12.7 times to Rs 29.5 crore on increased revenue and lower costs.
• Cigniti Technologies: Decision pending on generation of funds through a qualified institutional placement.
• Future Lifestyle Fashions: Company incorporated Future Specialty Retail, a step down subsidiary, with a share capital of Rs 5 lakh.
• Bank of India: The private lender cut its base rate to 9.65 percent.
• Srei Infra: Company raises Rs 350 crore through sale of non convertible debentures.
• Max Ventures and Industries: Company's shareholders received an open offer from PVT Ventures and Siva Enterprises, to acquire 34.6 percent stake in the company for Rs 31.5 per share.

Media Reports

• Sun Pharmaceuticals: Bombay High Court rejects the pharmaceutical’s writ petition to approve Metis as the reporting system and orders it to pay all pending salaries and expenses. (Press Trust of India)
• McDowell Holdings, Radico Khaitan, Tilaknagar Ind: Company’s may taste relief as Kerela government may revoke liquor ban. (CNBC-TV18)
• ONGC: The government-owned oil and natural gas company asked the government to set a floor price on gas. (Financial Express)
• Tata Steel: Looks to raise funds worth Rs 1,000-2,000 crore through sale of non convertible debentures. (Financial express)
• Cipla: Company freezes increments of top executives to cut costs (Economic Times)

AGMs To Watch

• Idea Cellular: Company to issue non convertible debentures worth Rs 7,000 crore on private placement basis.
• Network 18 Media and Investments, TC18 Broadcast: To issue non convertible debentures worth Rs 1,000 crore on private placement basis.
• Secto Automotive: To issue securities to qualified institutional buyers up to Rs 100 crore.
• PVR: To issue non convertible debentures worth Rs 250 crore on private placement basis.