Cairn India Ltd., which pumps crude oil from the nation’s biggest deposit on land, started its first commercial sales of natural gas from the area and activated a new oil field to revive lower-than-expected output.
Lupin Ltd., the drugmaker founded by Indian billionaire Desh Bandhu Gupta, is seeking to acquire brands in the U.S. to expand its most profitable business, and may spend as much as $1 billion on a deal.
Finance Minister P. Chidambaram’s proposal to increase levies for Indian companies with pretax income of more than $1.8 million may reduce earnings by 2 percent, said analysts including Deven Choksey, managing director of K.R. Choksey Shares & Securities Pvt.
Reliance Industries Ltd. and Essar Oil Ltd., operators of India’s two biggest refineries, face at least a two-year wait to profitably retail diesel, as the government prolongs the process of completely freeing prices.
Indian airlines including SpiceJet Ltd. and IndiGo may be allowed to store imported jet fuel at state-owned refiners’ facilities as the government works to ease rules to help carriers pare their biggest cost.