Cairn Energy Plc is considering settling a protracted tax dispute with the Indian government to fetch the UK oil explorer tax refunds totalling $1.06 billion.

• Stocks Under F&O Ban: Aditya Birla Fashion, Hindustan Copper, and Others
• Stocks in Focus: Tech Mahindra, Rail Vikas Nigam, Axis Bank, Reliance Industries, Others
• United Breweries Shares Hit 10% Upper Circuit on Stellar Q4 Update 
• PhonePe Indus Appstore Launched Voice Search Feature For Ten Indic Languages
• Hindustan Unilever Announced a 6% YoY Decline in Net Profit; Declared Interim Dividend 

On Tuesday, the company said it is considering entering into statutory undertakings with the government of India under a new law, clearing the way for the release of its assets seized since 2014.

The refund will allow Cairn Energy to return funds to its shareholders through dividends and stock buybacks and further expand its business, the company said.