Stocks in news: Sun Pharma, Deccan Gold, Century Tex, SAIL

Essar Oil-Company has offered a strategic stake of 50 percent minus 1 share in Essar Oil to Rosneft, Russia: ET-Company expects valuation at Rs 48,000 crore (USD 7-8 billion)

Fund ActionMotilal Oswal Financial Services-HDFC MF-HDFC Equity Fund sells 18.10 lakh shares at Rs 289/share-Morgan Stanley Investment Management Inc A/C Morgan Stanley buys 13.63 lakh shares at Rs 289/shareAhmednagar Forgings-Amtek Auto sells 18 lakh shares at Rs 215.4/share (promoter)-W LD Investment Pvt Ltd buys 17.99 lakh shares at Rs 215.4/shareCARE Ratings-Swiss Finance Corporation (Mauritius) sells 4.81 lakh shares at Rs 1491/share-CLSA Global Markets Pte buys 4.81 lakh shares at Rs 1491/shareGujarat Apollo-Sharda Anilkumar Patel buys 1 lakh shares at Rs 124/share (all promoter)-Asit Anilkumar Patel HUF buys 1 lakh shares at Rs 124/share-Ajitkumar Tribhovandas Patel sells 1 lakh shares at Rs 124/share-Swati Ajitkumar Patel sells 1 lakh shares at Rs 124/share

Textile compaines in focus-Textile Industry to miss USD 45 billion export target this fiscal: FE-Exports expected to reach USD 41 billion due to slowdown in China

Corporate Action-HDFC dividend - Rs 2.00/share-Sundaram-Clayton dividend - Rs 4.00/share

Government-Allots Sitanala coal block in Jharkhand to SAIL-Allots Talaipali, Kerandari, Chatti Bariatu, Chatti Bariatu South, & Dulanga coal blocks to NTPC

Coal secretary Anil Swarup says-Government allots 38 coal mines to central & state PSUs-India’s coal imports may fall to about 160 million tonne in 2015-16-India’s coal imports to jump 19 percent to 200 million tonne in 2014-15

Ortel Communications-Board to meet on March 31 to consider approving unsecured loan-Board to meet on March 31 to consider approving finance lease from CISCO

Monnet Ispat says-At preliminary stage of discussion to sell part stake in Monnet Power-No material development to warrant any disclosure at this stage

Glenmark Pharma-Moves Supreme Court against Delhi High Court injunctionAlert: Delhi High Court had restrained Glenmark from selling, manufacturing anti-diabetes drug Zeta, Zeta-Met-Supreme Court to hear Glenmark's plea on March 25

Spectrum Auction-Government receives bids worth Rs 1.09 lakh crore at the end of day 18-About 89 percent of spectrum provisionally allocated to bidders-110 rounds of bidding completed at the end of day 18-6 rounds of bidding completed today-Bidding is taking place in all bands-Auction in 2100, 1800, 900 and 800 MHz bands continues-Brisk bidding seen today, with activity requirement set at 100 percent-Majority of service areas going at a premium over reserve price-Bidding to recommence tomorrow, expect competitive bidding to continue

Tata Sons says-RBI rejects its application to buyback TTSL shares from Docomo-Company applied to buyback shares at price above current fair value-RBI conveyed TTSL price not in conformity with extant FEMA regulations-RBI advised TTSL shares should be bought back current fair value-To resolve the issue in the arbitration with Docomo-Can't comment further as the matter is sub-judice

Godrej Properties-Adds new residential project in Kolkata to its portfolio-Kolkata residential project will have saleable area of 3 million square feet

GMR Infrastructure says-Arm GMR Airports in agreement to acquire 10 percent stake in DIAL from Malaysia Airports-GMR Airports to acquire 10 percent equity stake in DIAL for USD 79 million-Post acquiring 10 percent stake, GMR Airports will hold 64 percent stake in DIAL

Other stocks and sectors that are in news today:-SBI sees credit growth at 15 percent in FY16: DNA-Coal India production target for FY16 to be fixed at 550 million tonne-PNB raises Rs 1,800 crore from bonds to fund infra projects: PTI-UltraTech Cement is looking at a share-swap proposal to merge the cement division of Century Textiles with it at a valuation of Rs 10,500 crore: BS-Coal, Power Minister Piyush Goyal says have not indulged in any kind of favouritism in coal block allocation-Sun Pharma says merger of Ranbaxy with company has been consummated-RBI says FIIs can invest up to 24 percent in Deccan Gold Mines-TRAI issues recommendations on reserve prices for auction of FM radio in new cities-SEBI bars Goldmine Food Products from mobilising funds from investors-Idea Cellular launches 3G services in Delhi in 900 MHz spectrum-Godrej Properties announces township project in Pune spread across 43 acres-Udaipur Cement floor price for sale of 14.18 percent equity in company at Rs 10/share-Ipca Labs receives US FDA import alert for Pithampur and Silvassa units