The Telecom Regulatory Authority of India (TRAI) came down on Reliance Jio's most recent freebie plan that extended free offers till June, and asked the telecom operator to withdraw the three months of complimentary benefits provided by the Jio Summer Surprise. “Jio accepts this decision," the company said in a statement. It noted that it is in the process of fully complying with the regulator’s advice, and will be withdrawing the complimentary benefits "as soon as operationally feasible". One point that rival players will not be too happy about is Jio saying that all new customers who subscribed for the Summer Surprise before the discontinuation will still receive the offer. 

ONGC , IOC and BPCL are planning to move to daily reviews of fuel prices, aligning their processes along with international practices. Prices at petrol pumps as a result, may change every day. This would replace the existing Indian practice of fortnightly revisions of fuel prices. While this policy has been in the offing, the technology that enables it - the automation of filling stations, and digital networks that allow companies to change prices from a single point - have become available recently. Previously, dealers would wait for the fortnightly phone call from regional centres to change prices at their stations.  

Stock in spotlight: Agri inputs and seeds company Rallis India, which has seen enthusiasm from analysts at HDFC Securities and ICICI Securities, who've given the company share price targets of Rs. 270-300. The company posted decent results in Q3 despite the rural markets taking a hit from demonetization. 

Photo of the day: A flock of red sheep graze on a hillside in Scotland. The farmer has been dyeing his sheep since 2007, to entertain passing motorists. Jane Barlow/PA