The premium promised by the government for natural gas produced in geologically challenging conditions must be linked to the prevalent market prices of a basket of alternative liquid fuels, with a discount factor that would reduce progressively, allowing the price to come close to arm’s length price over a period of three to five years, major private sector explorers have argued.

Air India kicked off a virulent fare war across the domestic network on Monday, cutting economy class fares up to half compared to Saturday’s rates, undercutting both low-cost and full-service carriers.

The move comes a few days after Vistara launched services in India, between three cities to begin with.

Benchmark indices are likely to open higher tracking the gains in select Asian peers. Some volatility may be expected later in the session as consumer inflation for the month December rose to 5% from 4.38% in the previous month, primarily due to a rise in food prices.

Traders would read the increase of 3.8% in industrial production for the month of November with some caution as it is over a negative base.

Korean automaker Hyundai's new sports utility vehicle will be bigger than Ford Ecosport, which is the bestseller in the sub-four meter segment.

Slated for launch in the second half of this calendar year, the all-new SUV from Hyundai will be pitted against the Ford SUV but will be "roomier, more powerfull and have the characteristics of a true SUV," said a top Hyundai India official.

The depressed share prices of public sector behemoths Coal India and ONGC is forcing the Finance Ministry reconsider its decision to dilute its stake in the two companies, top government officials have told Business Standard.

If the share prices of the two companies remain at current levels, the 10% stake sale in Coal India and 5% stake sale in ONGC will likely be called off.

In a significant move, the Supreme Court on Monday directed the central government to allow e-voting by NRIs. Supreme Court gave the government four weeks time to inform about further steps taken to implement EC's suggestion.

The Centre told Supreme Court that it has accepted Election Commission's suggestion to extend voting rights to NRI's through postal ballots.

As per the agreement, "BSE will establish an international exchange in GIFT SEZ-IFC, a multi-services Special Economic Zone (SEZ) being developed as India's first International Financial Services Centre by Gujarat International Finance Tec-City Company Ltd."

BSE, along with its associates and members, will invest upto Rs 150 crore to set up this international exchange.

Tata Motors owned Jaguar Land Rover (JLR), UK's premium luxury car manufacturer today announced that it plans to create 1,300 new jobs at its UK plant as it plans to add new Jaguar models to its product portfolio.

The new jobs will be at the company's Solihull plant where it will built its new Jaguar crossover sports utility vehicle (SUV). The SUV is set to go on sale in 2016.

Markets pared early gains in late morning trades as investors booked profit at higher levels after reports suggest that retail inflation is likely to be on the higher side. The government will detail November IIP and December CPI data later today.

At 11:40AM, the 30-share Sensex was down 22 points at 27,436 and the 50-share Nifty was trading flat at 8,285.

Delhi International Airport Private Ltd (DIAL), a unit of infrastructure conglomerate GMR, plans to retire its existing foreign currency term loans with funds raised through bonds.

Ratings agency Moody's has assigned Ba1 rating to these bonds.

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