wife Kavery Kalanithi have resigned from the board of directors of Kal Airways, the holding company of SpiceJet.
* Domestic passenger traffic fell 15.7 per cent in October, while government-owned Air India strengthened its market share to 20.8 per cent.
* Russia's Sistema Shyam is in preliminary discussion with Aircel to pick up an equity stake, Vsevolod Rozanov, president and CEO said.
"We have had preliminary discussions, which also include them apart from others. But we will not take any decision unless we are assured our investment in the country is protected," Rozanov was quoted as saying by Business Standard.
* Tata Teleservices Ltd has begun winding up operations in the Jammu and Kashmir, north-east and Assam telecom areas, after deciding against participating in the auction for radio spectrum in the 800Mhz band, according to an official in department of telecommunications.
* IKEA is poised to become the first major foreign company to open wholly owned stores in India after it received a crucial government clearance to invest 105 billion rupees ($1.9 billion)
* Diageo Plc will launch a mandatory share tender offer to buy up to 26 percent additional stake in India's United Spirits Ltd from public shareholders on Jan. 7, the
manager to the offer said in a notice to the Bombay Stock
* The National Pharmaceutical Pricing Authority has imposed a blanket ceiling on the prices of insulin, irrespective of the brand.
* Sam Balsara, the owner of Madison Media, is negotiating with Japan's Dentsu and as well as U.K.-based WPP to sell the Indian domestic advertisement agency, according to sources close to Balsara.
* The realty arm of Bharti Group is in negotiations with DB Realty to buy a 49 percent stake in a special purpose vehicle that is developing a plot located in a hospitality district being developed near the Delhi International Airport, according
to people familiar with the transaction.
* Holiday Inn Express on Tuesday launched its first property in the country and the only second in South East Asia at Ahmedabad.
OTHER FACTORS TO WATCH
* Indian debt/FX factors to watch
* Yen falls broadly, euro pins hope on deal for Greece
* Oil drops as Gaza truce seen; losses pared on API data
* Foreign institutional investor flows
* For closing rates of Indian ADRs
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