Stocks To Watch: Indian Oil, Jaiprakash Power, ICICI Bank, Yes Bank And More

The Nifty futures on the Singapore Exchange, an early indicator of the Nifty performance in India, was little changed at 8,792.

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

• Indian Oil Corporation: Company along with Bharat Petro Resources Ltd. (BPRL) completed an acquisition of 23.9 percent shares of the charter capital of JSC Vankorneft, which owns the Vankor and North Vankor field licences in Russia from Rosneft.
• Indian Oil Corporation: Fixes October 19, 2016 as record date for issue of bonus shares in the ratio of 1:1.
• Transformers And Rectifiers: Enters into a joint venture agreement with Jiangsu Jingke Smart Electric Company Ltd. of China, for manufacturing and marketing of systems and products for 220 kV and below and for distributing products of 40.5 kV and below in India.
• Phillips Carbon Black: Approves Scheme of Amalgamation between Phillips Carbon Black Ltd. and Goodluck Dealcom Pvt Ltd, a wholly-owned subsidiary of company.
• Jaiprakash Power: To consider proposals for restructuring and progress in debt reduction.
• NMDC: Prices of lump iron ore has been fixed at Rs 2,100 per wet metric tonne and that of fines at Rs 1,760 per wet metric tonnes.
• Dhanlaxmi Bank: CARE reaffirms the rating on lower tier-II bonds of the bank at CARE BB+
• Power Grid: Unit starts commercial production of 400 kV D/C line.
• Telecom Stocks: Spectrum auction gets bids worth Rs 63,451 crore on day 4.
• Punjab and Sind Bank: Bank’s issue of Basel-III compliant tier-II bonds aggregating up to Rs 500 crore were fully subscribed and bids for Rs 500 crore with coupon of 7.99 percent were accepted.
• Punjab and Sind Bank: Hikes overnight MCLR by 10 basis points to 9.3 percent.
• Sobha Developers: Achieved new sales of 8,55,662 square feet valued at Rs 518.2 crore with an average realisation of Rs 6,056 per square feet.
• Reliance Capital: To issue NCDs worth Rs 5 crore with an option to retain over subscription up to Rs 3 crore.
• Syndicate Bank: Cuts MCLR by 10 basis points.
• Sagar Cements: Consolidated cement production for September stood at 1,46,051 million tonne. Consolidated sales were up 29 percent while standalone sales were down 15 percent.

From PTI

• Bank of India: Fixes MCLR rates at 9-9.35 percent from October 7.
• Uco Bank: Government gets an open offer exemption post capital infusion.
• Unichem: Recalls 368 bottles of anti-epileptic drug in U.S.
• Bharat Forge: Sets up ordnance factory in Pune.
• Britannia-ITC: High Court refuses to suspend order in pack dispute case.
• Future Group: Launches digital loyalty wallet FuturePay.
• Tata Communications: RBI seeks to intervene in Tata-NTT Docomo case.
• Ashok Leyland: Expects its defence business to log four-fold jump in revenue to about Rs 2,000 crore in next five years.

Media Reports

• Yes Bank: SEBI’s initial probe finds bank violated norm in its attempt to raise $1 billion through QIP. Adjudication proceeding to be launched against lender. (Mint)
• Axis Bank: Government likely to begin mega share sale in companies held by SUUTI with Axis Bank later this month. (Business Standard)
• ICICI Bank: Acquires 11 percent stake in ABG Shipyard, all lenders now own 49 percent (Economic Times)
• McLeod Russel: Merill Lynch buys 5,72,500 shares in the company according to NSE. (Bloomberg)
• Bajaj Finance: Raises Rs 124.1 crore via anchor allotment. (Bloomberg)
• Orient Cement: Orient in talks to buy Jaypee’s 74% in Bhilai Cement for Rs 750 crore. (Economic Times)
• Monnet Ispat: Former group CFO under insider trading scanner. (Financial Express)
• ONGC, Oil India: Not to bid for 67 discovered oil & gas fields. (Financial Express)
• ONGC: Government nod to OVL’s 11 percent stake buy in Russian asset Vankorneft. (Financial Express)
• Pidilite: Recalls Tempra, Finger paints in US over quality concerns. (Financial Express)
• Bharti Airtel: Starts offering 1 GB data at Rs 25. (Financial Express)
• JSPL: Defaults on NCD interest dues. (Financial Express)
• Vedanta: To raise upto Rs 1,250 cr via non-convertible debentures. (Financial Express)

IPO Watch

• Endurance Technologies: IPO subscribed 12 percent on day 1. Offer to close October 7.
• Hindustan Aeronautics: Planned IPO values company at Rs 20,000 crore (Financial Express)

Earnings To Watch

• GM Breweries
• Goa Carbon