Resolution:
There are two possible ways to overcome the situation:

1>  We have to use plain ADB publication service and check the checkbox against the columns which are target for publication. This checkbox heading name is "Update trigger" and can be located under ADB's "Tables" tab. This configuration will create an .sql script containing the trigger on base table which will handle selective update publication - the desired functionality. The downside of this approach is trigger will be based on base table rather than MV log and we will have to use plain ADB palette for configuration.

2> We have to use Oracle Apps publication BO, attaching it to ADB publication service. This will generate the .sql script file containing the trigger. We will have to eventually create a new trigger on base table to propagate the data to publication table and from there it will be published by adapter. We  will also have to handle that the data does not go in publication table if such updatation is handled by trigger mentioned earlier (i.e. trigger on base table). This will avoid duplicate publication. But this approach is more tailored, difficult to implement and error prone;