News Digest for the day

The Economic Times

ONGC to seek Russia's surety for Rosneft deal
Co wants a sovereign guarantee or letter of comfort for $6bn loan to Russian co.

Govt may grant tax sops to put broking M&As in the fast lane
Acquisition of broking entities to bring in capital gains and are liable to be taxed.

Gail sounds out govt over Panna-Mukta gas price dispute
Co says diversion of gas from HVJ system would adversely impact power & fertiliser production in the country.

The Financial Express

Lehman Brothers to pick up 8.5% stake in KPIT Cummins
FII limit to be increased from 24% to 49%.

Edible oil, oilseed duty recast likely
Consumer affairs ministry proposes halving of import duty on oilseeds to 15%.

Welspun to sell Tommy Hilfiger home textiles
'Tommy Hilfiger' to be premium brand; 'Spaces' aimed at mass market & 'Welspun' to be a discount brand.

The Business Line

New autonomy package for PSU banks on cards
Exercise to depend on good corporte governance practices.

Pharma retailers threaten to stop stocking psychotropic medicines
Allege harassment under narcotic drugs Act.