Stocks in news: IOC, Nestle, SAIL, Ranbaxy, S Kumar, Suzlon

Here are stocks that are in news today:

Nestle India
-Increases royalty rate at 0.2 percent every year from 3.5 percent to 4.5 percent
-Royalty rate hike staggered over 5 years starting 2014
Nestle India says:
-Only independent directors voted on royalty resolution
-Executive directors recused from royalty resolution vote

HUL says:
-No hike in price of Dove Soap 50 gm pack since October 2012
-Reports of Dove soap 50 gm price hike by 10 percent incorrect
-No change in pack size of Lux soap 150 gm
-No change in price or Grammage of Lux soap 150 gm pack
-No SKU of Rin Powder 250 gm pack
Alert: SKU is stock-keeping unit
Alert: Reports of Rin powder 250 gm pack price hiked by 6.7 percent
-Reports of change in price & grammage of Vim bar incorrect
-No change in Wheel powder 1 kg pack price since November 2012
 
Cairn India says
-Started gas sales from Rajasthan with 0.15 mmscmd initial volumes
-To target several gas prospects in Rajasthan
-JV with ONGC starts oil output from Aishwariya field in Barmer
-See Barmer exploration, development capex at Rs 6,000 crore for FY14
-Barmer block gas approved price around USD 5/mBtu
-Will buy out Cairn Energy's residual 10 percent at some point
-To invest Rs 6,000-10,000 crore over 3 years in Rajasthan
-Target is to have ultimate production of 500,000 bpd
-80 percent of benefit in Rajasthan Barmer field goes to govt
-Govt has to decide on residual stake sale in Hindustan, BALCO

IOC hikes retail diesel price by 45 Paise/litre
IOC says:
-Post price hike, loss on retail diesel seen at Rs 8.19/litre
-Hike in retail diesel prices by 45 paise/litre excluding VAT
Alert: Retail diesel prices were last revised by 45 paise/litre on February 16

SAIL offer for sale (OFS) fully subscribed
-Gets bids for 24.13 crore shares versus issue size of 24.03 crore shares
SAIL OFS:
-Indicative price at Rs 63.07/share against floor price of Rs 63/share

Sources on SAIL OFS:
-LIC bids for close to 35 percent; SBI bids for close to 15 percent
-Largely subscribed by by domestic MFs
-Non-institutional investors bid for 5 crore shares with 100 percent margin
ALERT: SAIL OFS subscribed 100.4 percent; gets bids for 24.13 cr shares

Kingfisher Airlines (KFA) Delhi engineers write to Vijay Mallya (Letter dated Sunday)
-Will take necessary actions if no response within 24 hours
-Avoiding payment of salaries is worst form of cruelty
-Employees being held captive to demand for AOP renewal
Alert: AOP is aircraft operators license
KFA Mumbai pilots say
-Encouraged by Vijay Mallya’s meeting with Delhi staff
-Appreciate hard work put in by Vijay Mallya
-Looking forward to take the skies soon
-Will be encouraged if June salaries paid immediately
-Will be encouraged if progress made on refresher training
-Always supported Vijay Mallya & will continue to do so
 
Karnataka HC postpones KFA & UBHL hearing to next week
Alert: 8 creditors filed winding up petition against KFA & UBHL

Coal India (CIL)
-Finance ministry effects excise duty recovery of Rs 750 crore from CIL: PTI
-Coal India board seeks clarifications on draft pact with South Africa’s Limpopo govt on JV: PTI
Alert: Limpopo govt had approached CIL requesting to form JV with one of its public sector firms for acquiring coal mines there

Other stocks and sectors that are in news today:
-NALCO cuts aluminum prices by Rs 2,000/Tonne: Reuters Sources
-Ranbaxy set to get FDA nod on alternative for Novartis’ Diovan, another likely for Roche’s Valcyte: BS
-Videocon planning to retire substantial portion of its debt from proceeds of stake sale from Mozambique gasfiled by end of the month which could fetch company around USD 2 billion: BS
-S Kumar looking to sell Reid and Taylor to reduce debt: ET
-UTV signs 7 year Rs 130 crore deal with ZEE: ET
-Suzlon’s USD 650 million bond issue to hit markets today
-Dr Reddy's settles claims versus Nordion; to get cash payment of USD 22.5 million
-Speed up price pool for gas, PMO to power ministry: FE
-Deccan Chronicle to demerge print unit, scheme to be shared with lenders during the AGM on March 28
-Chettinad Cement fixed delisting price of Rs 720/share
-Geodesic says company's restructuring process in final legs, likely to get completed during 1st half of next week
-Inter-ministerial panel likely to meet today on selection of legal advisor for planned ETF of PSUs

Do not intend to levy 30 percent excise duty on Sedans: CNBC-TV18 Exclusive: Govt Sources Say
-Understand need to clarify definition of small utility vehicles (SUVs)
-In process of clarifying definition of SUVs for excise levy
-Two box cars to be treated as SUVs
-Definition of SUVs unlikely on basis of price
-Criteria for ground clearance unlikely to be changed