The government is likely to include call and put options in the share purchase agreement of Air India to profitably sell its residual stake in the airline after strategic disinvestment.

A put option gives the existing shareholders the right to sell securities at a specified price, thereby providing an exit route from the company. A call option allows the buyer to acquire shares at a predetermined price, which is usually above the current price, within a limited time period, allowing it to increase its shareholding in the company.

The Securities and Exchange Board of India (Sebi) is likely to accept information technology major Infosys’ consent plea to settle charges of disclosure lapses pertaining to the severance package paid to former chief financial officer (CFO) Rajiv Bansal.

According to sources, the matter involves “minor disclosure lapses”, which, according to Sebi rules, could attract a penalty of a mere Rs 800,000.

Faced with pricing pressure, large Indian pharmaceutical companies are focusing on selective product launches in the US market. The move comes amid increasing competition in the generic drug space and customer consolidation, which are impacting the companies' profits.

“I do not think we are going to file more than 20 products in a year, but we will choose them well. Nowadays, in the US, you think you have a very good product but there are eight companies filing the product on day one and then there another five after that.

BENGALURU: Amazon India has set up 15 specialised fulfilment centres (FCs) to ramp up its daily essentials and consumables business for Amazon Now. The company, which has taken the hyperlocal delivery platform to the top four metro cities, will be utilising the new warehouses to meet demands for its two-hour express deliveries as well as scheduled ones on Amazon Now.

New Delhi: State-owned explorer ONGC Ltd is likely to miss its target date of gas production from its KG basin block because of changes in government policies and the introduction of the goods and services tax.

"The new policies concerning the oil and mining sector, as referred in the reply of ONGC to the NSE and the BSE, though not amply clarified in the reply, were pertaining to policies such as purchase preference policy, steel policy, GST policy and not regulatory policy," ONGC said in a statement.

New Delhi: A spate of heavy shelling and ceasefire violations by Pakistani forces, displacing more than 500 villagers on the Indian side of the border in Kashmir, have led to a dramatic escalation of tensions, according to police and intelligence officials.

According to the centre’s statistics, increased shelling by Pakistan since 14 February has left 19 people dead, of whom 10 are security personnel while nine are civilians. Another 80 people have been injured.

Mumbai: The Indian rupee on Tuesday opened higher but soon erased all of its gains and was trading marginally lower against US dollar.

The local currency opened at 64.73 a dollar. At 9.15am, the home currency was trading at 64.83, down 0.06% from its previous close of 64.80.

The Bank of Baroda (BoB) played a crucial role in allowing South Africa’s politically influential Gupta family to move hundreds of millions of dollars linked to alleged dirty deals into offshore accounts, an investigation by the Organized Crime and Corruption Reporting Project (OCCRP) and The Hindu has found.

The benchmark BSE Sensex gained over 132 points to 34,578.39 in early trade , rising for the third straight session today on buying by domestic institutional investors (DIIs) amid strong global cues.

Investors are also eyeing Q3 GDP data, to be released tomorrow. Market sentiment was bolstered after a Morgan Stanley report said India’s economic recovery is expected to have gathered momentum and GDP growth for the December quarter is likely to have accelerated to 7 %, broker said.

After the Committee of creditors (CoC) of Bhushan Power and Steel rejected Liberty House’s bid as it was submitted after the February 8 deadline, the UK-based firm on Monday moved the National Company Law Tribunal (NCLT) seeking redress. Arguing its case before the NCLT, the Liberty House’s counsel said the resolution professional (RP) or the CoC should consider its resolution plan and not return it as unopened since “the more they get, the better (it is) for the financial creditors”.

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