The proposal envisages selling about 5% equity stake in ONGC, 3% in IOCLand 10% in OIL. 

Oil prices posted the deepest plunge in more than three years in the international market. Brent crude, used to price international oils, dropped to $65.17 a barrel. Oil has now fallen roughly 30 percent for 12 straight days, driven by worries over rising oil production around the world and weakening demand from developing countries, with expectations for increased supply from the US and OPEC.

Brent crude prices were trading at $68.15 per barrel, down 2.08% from their previous close. Benchmark US crude fell 78 cents to $59.15 per barrel in electronic trading on the New York Mercantile Exchange. The contract sank 26 cents on Monday to $59.93.

While the SpiceJet stock fell up to 4.12%, InterGlobe Aviation declined up to 4.43%.  The Jet Airways stock too lost 6.54% on the BSE.

The state electricity regulatory commissions will fix tariffs for electricity supply from distribution companies to the charging stations at a ceiling of 15% over the average cost of supply

WhatsApp to appoint India head by year-end; Tatas removed Cyrus Mistry unconstitutionally, says RTI response from RoC Mumbai; LPG price hiked by Rs 2.94 per cylinder; India jumps 23 places in global ease of doing business rankings; Apple India sees 140% jump in net profit to Rs 896 crore in FY18. Watch more in this episode of Business Wrap.