Calcutta, July 10: The coal ministry has estimated an almost 30 per cent jump in plan outlay for the three PSUs under its fold in 2016-17.

The total plan outlay for Coal India (CIL), Neyveli Lignite and Singareni Collieries for 2016-17 is Rs 16,343.92 crore against a budget estimate of Rs 12,585.50 crore in 2015-16.

Srinagar: The death toll in the clashes between protesters and security forces in Kashmir mounted to 23, as normal life remained paralysed for the third day on Monday in the valley due to curfew-like restrictions and separatists-sponsored strike in the wake of the killing of Hizbul Mujahideen commander Burhan Wani in an encounter on Friday.

“Two persons have died in an incident of violence in Kulgam district yesterday and have been identified as Feroze Ahmad Mir (22) and Khursheed Ahmad Mir (38),” a police official said.

Mumbai: Indian Oil Corp. Ltd (IOCL), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) may jointly hold a 51% stake in a large refinery and petrochemical complex proposed to come up in coastal Maharashtra, two people familiar with the development said.

The state government and a strategic investor who is yet to be brought in will hold the rest.

Punjab National Bank (PNB) shares gained over 8 per cent on Monday after the Reserve Bank of India removed the public sector bank from the caution list and allowed foreign investors to buy its shares. The scrip later closed 8.21 per cent up at Rs 127.25.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs 180.50 on Aug 17, 2015 and a 52 week low of Rs 69.40 on Feb 17, 2016.

After ending flat on Friday, the two domestic equity markets opened strong on Monday, tracking a positive trend in the global markets.

BSE Sensex opened over 300 points up and soon climbed 440.89 points higher to 27,567.79 or 1.63% higher while NSE Nifty was up 1.49% or 124.20 points up at 8,447.40 from Friday's close.

Aiming to attract more fliers and achieve higher seat occupancy in its flights on trunk routes, Air India has decided to lower its last minute ticket fares to the level of 2-tier AC of Rajdhani trains.

As part of the pricing strategy, Air India will drop fares on four key routes--Delhi-Mumbai, Delhi-Chennai, Delhi-Kolkata and Delhi-Bengaluru--four hours before the departure of flights to these destinations.

Shares of three private sector banks – HDFC Bank, IndusInd Bank and YES Bank – have hit their respective lifetime highs on expectation of robust earnings for the first quarter (April –June) of the current financial year 2016-17.

YES Bank (up 2.5% at Rs 1,147), HDFC Bank (2% at Rs 1,196) and IndusInd Bank (up 1.8% at Rs 1,147) were up more than 1% each, touching their respective record highs on the BSE in intra-day trade. At 10:24 AM, the S&P BSE Sensex was up 1.7% or 472 points at 27,598.

Larsen & Toubro (L&T), the engineering and construction major, is all set to take its engineering services business unit, L&T Technology Services public. The Group will be filing the draft red herring prospectus (DRHP) in the next three to five weeks.

The technology services business is looking at a valuation of $1-1.5 billion, said two sources in the know.

Market regulator Securities and Exchange Board of India (Sebi) is likely to interrogate United Spirits (USL) officials over Vijay Mallya's severance package of $75 million, said a source with direct knowledge of the matter.

On July 9, the USL had accused Mallya of fund diversion worth Rs 1,200 crore from the company to various Mallya-owned entities, including Force India, Watson Ltd and Kingfisher Airlines.

Donald Trump has promised to liven up this year’s Republican National Convention. But some of America’s biggest corporations are bailing on the party.

Apple recently became the latest company to give the GOP’s presumptive nominee the cold shoulder; it won’t contribute money or products to the Republicans’ big shindig in Cleveland this month.

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