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The finance ministry has proposed a substantial increase in penalty and punishment to the ministry of electronics and information technology (Meity) for inclusion in the proposed Data Protection Bill, likely to be introduced in the monsoon session of Parliament.

As a result of the proposed merger, the standalone book value per share of the bank would increase by 4.9%, as calculated on audited financials as of March 31, 2023.

On Friday, the yield on the 10-year benchmark government bond settled at 7.12%, its highest closing level since April 28. The yield on the 10-year bond settled at 7.12% on Monday too, 15 basis points higher than a low of 6.97% touched on May 19. Over the same period, the yield on the highly liquid four-year bond climbed 13 basis points.

​​That compares with an 11% gain in the Nifty 50 index. The tech-heavy Nasdaq has rallied 15% in this period, while the NYSE FANG+ surged 26%. The ET Ecommerce NonProfi table index, comprising stocks that are yet to make money, gained 30% in three months and outperformed the ‘Profi table’ index which climbed just about 16%.

India imported 1.8 million barrels per day (mbd) of Russian crude in June. China imported 1.6 mbd of seaborne Russian crude in June, 12% more than in May, and Europe took 0.42 mbd, 28% more than in the previous month.

The non-banking finance company had called for bids under a cash-security receipt structure, based on an existing offer. Omkara Asset Reconstruction Company provided a binding offer, setting the reserve price for the auction.

The portfolio included six real estate accounts sold for ₹1,075 crore, equating to a 60% recovery for L&T Finance, the people said. The finance company invited offers under a 15:85 structure for ten accounts with a total loan of ₹3,022.5 crore, according to a notice issued by the finance company on its website early last month.

The Sensex topped 65,300.35 on Monday, surpassing the previous high of 64,768.58 last Friday. The index closed at 65,205.05, up 486.49 points or 0.75% from the previous close.

While the Singapore International Arbitration award had directed P&W to dispatch around 20 engines by December 2023, the engine maker had subsequently challenged it citing payment failure by the airline and the ongoing global supply chain shortage. In its petition which was reviewed by ET, P&W has claimed that the airline owes it over $100 million.

The offer will see fresh shares worth Rs 2,700m and a stake worth Rs 1,350m by exiting shareholder SAIF Partners India IV Limited. Proceeds from the IPO will be used for working capital and general corporate purposes. The bid deadline is 6 July, with shares being offered between Rs 301 and Rs 317 each.