Bharti Airtel  said that it has sold 10.3% stake in its tower company Bharti Infratel to U.S. private equity firm KKR & Co LP and Canada Pension Plan Investment Board. It has sold its stake for Rs. 6,193.9 crore. The news has come even as Reliance said yesterday that Jio may extend its free offerings to customers by a month, until the end of April.The huge discounts Jio has provided customers have cost players like Airtel, Vodafone and Idea market share and revenue as they cut prices to match Jio. The stake sale by Airtel would give it additional cash reserves it needs to take on Jio. 

The government now wants a cut, if the value of your property increases: The Finance Ministry is planning to impose charges like a 'land value tax' on properties whose value has increased because of a government project, such as a metro station, or elevated road being built close by. The Finance Ministry believes that in such cases, a portion of the increased value on the property should pass on to the government. The government has yet to decide how this money would be collected - it might be a surcharge on stamp duty, or an additional tax.

Stock in spotlight: JK Tyre, which is looking at expanding its presence in the high-margin radial tyre markets. The falling price of natural rubber may boost the fortunes of tyre companies according to analysts. ICICI Securities had issued a BUY on JK Tyre after its Q3 results, with a target of Rs. 145 in share price.  

Photo of the day: Fishermen paddle across Lake Vembanad in Kochi. Lake Vembanad is the longest in India. Sivaram V/Reuters