Stocks To Watch: Telecom Stocks, ONGC, JP Associates And More

The Nifty futures on the Singapore Exchange, an early indicator of the Nifty performance in India, was little changed at 8,735.

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

• Bharti Airtel: Acquired 173.8 MHz spectrum in 1,800/2,100/2,300 MHz bands through auction for Rs 14,244 crore.
• Idea Cellular: Acquired 349.2 MHz spectrum in 1800/2100/2300/2500 Mhz band for Rs 12,798 crore. Can now provide 4G services in 20 circles.
• Reliance Industries: Reliance Jio acquired 214.6 MHz spectrum in 800/1800/2300 MHz band for Rs 13,672 crore.

• Tata Steel: India sales grew 12.5 percent to 26.2 lakh tonnes in the second quarter of FY17.
• JP Associates: To sell cement assets to orient cement for Rs 1,450 crore
• Jaiprakash Power: Accepts recommendations of recast panel; in talks for more steps for SDR
• Kotak Mahindra Bank: Cuts base rate by 10 basis points to 9.4 percent per annum.
• 63 Moons Technologies: Enforcement Directorate asks HDFC Bank to secure an amount of Rs 30.27 crore and allow normal transactions in the company’s account thereafter.
• UPL: Wholly-owned subsidiary UPL Corporation Ltd. successfully completes pricing of its $500 million senior unsecured notes at 3.25 percent per annum due in 2021.
• Lupin: U.S. unit pact with Monosol Rx for multiple pediatric-focused products
• Fiem Industries: Company signs technology license and assistance agreement with Asian Industry and Toyota Tsusho, Japan for manufacturing of Canister.
• Bajaj Finance: Company’s long term bank loan, NCD, subordinate debt and lower tier-II bonds, upgraded by CRISIL from CRISIL AA+/Positive to CRISIL AAA/Stable.
• ABG Shipyard: Inviting suitable bids for divesting its subsidiary, Western India Shipyard Ltd. that is currently suspended from trading.
• Grasim Industries: Post share split in the ratio of 1:5, scheme of agreement with Aditya Birla Nuvo stands as:

*15 equity shares of Rs 2 each of Grasim will be given for every 10 shares of Rs 10 each of AB Nuvo.

*7 equity shares of Rs 10 each of Aditya Birla Financial Services Ltd. for every 5 shares of Rs 2 each held by Grasim shareholders.

• Autos: India car sales data for September (prior 177,829 units)
• South Indian Bank: To announce second quarter earnings

Media Reports

• IDBI Bank: Government to retain majority stake in bank to push stake sale. Bank has shareholder approval to raise Rs 8,000 crore. (Economic Times)
• ONGC: to pick up stake in Gujarat State Petronet’s KG basin block. (Economic Times)
• SBI: May sell up to 5 percent stake in SBI Life Insurance. (Mint)
• NTPC: Supreme Court restrained company from proceeding with tender for Odisha coal mine. (Financial Express)
• Aurobindo Pharma: Promoters said to sell $132m-$135m shares (CNBC-TV18)
• SBI, PNB to revamp Bhushan Steel’s Rs 45,000 crore bad loans (Mint)

IPO Watch:

• Endurance Technologies: IPO subscribed 92 percent on day 2; offer scheduled to close today
• NSE: Secures board clearance to launch IPO via Offer For Sale