Business

New Delhi: The number of investors in mutual funds is rising rapidly, and the Securities and Exchange Board of India (SEBI) has now made it significantly easier to gift mutual fund (MF) units. Previously, investors had to sell their units and pay taxes before transferring them to family members or others. With the recent regulatory change, units can now be directly transferred without selling. According to SEBI’s updated rules, both Demat and Statement of Account (SOA) units can be gifted or transferred. This applies to transfers via wills, inheritance, or addition/removal of joint holders. Earlier, only Demat units could be transferred, while SOA units required selling, which triggered capital gains tax. Key Benefits for InvestorsTax experts highlight that this change removes a majo...

New Delhi: India’s GDP grew at a robust 8.2% in the second quarter, yet industrial production in October has fallen to a 13-month low. According to the Ministry of Statistics and Programme Implementation, the Index of Industrial Production (IIP) rose only 0.4% compared to the same month last year, significantly down from October last year’s 3.7% and September’s 4.6% growth. Weak performance in mining, power, and manufacturing sectors contributed heavily to the slowdown. Manufacturing grew just 1.8%, compared to 4.4% a year ago. Mining output declined by 1.8%, while electricity production dropped 6.9%, compared to a 2% increase last year. Consumer durables such as TVs and refrigerators saw a 0.5% contraction, while consumer non-durables fell 4.4%. For the current financial year up to Oct...

New Delhi: Apple, the American tech giant behind the iPhone, has made a major leadership change in its Artificial Intelligence (AI) division. The company has appointed Indian-origin researcher Amar Subramanyam as the new Vice President of AI. Subramanyam brings with him a wealth of experience, having previously served as Corporate VP of AI at Microsoft and spent 16 years at Google. At Google, he led the engineering of the Gemini Assistant, one of the company’s flagship AI projects. At Apple, he succeeds John Giannandrea and will report directly to Software Chief Craig Federighi. In his new role, Subramanyam will oversee key AI initiatives, including Apple Foundation Models, Machine Learning Research, and AI Safety & Evaluation. Apple stated that his deep expertise in AI and his a...

New Delhi: Investors now have a chance to buy shares of Bank of Maharashtra (BOM) at attractive prices as the government plans to divest up to 6% of its stake in the public sector bank. The Offer for Sale (OFS) opened today, December 2, 2025, for non-retail investors, while retail investors can participate starting tomorrow, December 3. Details of the OfferThe OFS is being managed under the Department of Investment and Public Asset Management (DIPAM), part of the Finance Ministry. DIPAM Secretary Arunesh Chawla stated, “The OFS in Bank of Maharashtra has opened today for non-retail investors. Retail investors can submit their bids on Wednesday, December 3. The government is offering 5% equity for sale, with an additional 1% available under the green shoe option.” Share Pricing and Ex...

New Delhi: Prominent businessman Mehli Mistry, a close associate of the late Ratan Tata, has resigned from the board of the Small Animal Hospital Trust (SAHT). The Mumbai-based trust runs India’s largest specialty hospital for pets, a project that was a long-cherished dream of Ratan Tata. The hospital was established after Tata struggled to find proper healthcare for his injured dog, prompting him to create the facility. In his resignation, Mistry stated, “Since I am no longer associated with the Sir Dorabji Tata Trust (SDTT) and Sir Ratan Tata Trust (SRTT), I cannot provide funding to the Small Animal Hospital Trust. I also do not wish to request funds from a trust I am not connected with, and therefore I resign with immediate effect.” In October, Mistry’s tenure as trustee in SDTT and...

New Delhi: The opposition has repeatedly questioned the government over LIC’s investments in the Adani Group, especially after Hindustan Hindenburg Research reports led to a sharp fall in Adani shares. Recent media reports, including one from The Washington Post, suggested that government officials may have encouraged LIC to invest in the group. Finance Minister Nirmala Sitharaman, however, clarified the government’s position on Monday. She stated that the Ministry of Finance does not issue any advice or directives to LIC regarding its investment decisions. She emphasized that LIC’s investments in the Adani Group were made strictly according to established Standard Operating Procedures (SOPs). LIC, India’s largest institutional investor, has made investment decisions over the years b...

Here’s a polished, newspaper-ready English version of your Meesho IPO article: Mumbai: E-commerce platform Meesho’s highly anticipated IPO opens tomorrow, December 3, 2025. Even before the formal launch, the IPO has created a buzz in the grey market, signaling strong investor interest. The IPO’s upper price band has been set at ₹111 per share, and the current Grey Market Premium (GMP) stands at 40.54%, indicating robust demand. What is GMP?The Grey Market Premium reflects an unofficial market where shares are traded before listing. A strong GMP suggests high investor enthusiasm and potential for a positive listing, though it does not guarantee price gains. Currently, Meesho’s GMP of ₹45 per share (40.54%) shows considerable pre-IPO demand. IPO DetailsMeesho’s IPO will rema...

New Delhi: The central government has formally constituted the 8th Pay Commission. Following this, central employee organizations have renewed their demand to merge the Dearness Allowance (DA) with the basic salary. Currently, the DA stands at 58%, having crossed the 50% mark as early as January 2024. Several employee unions have urged that the DA be merged into the basic pay, a move that would increase the overall salary structure. However, the Ministry of Finance has clarified that there is no proposal under consideration for such a merger. Responding to a question from MP Anand Bhadoria in the Lok Sabha, Minister of State for Finance, Pankaj Chaudhary, stated that the government has no plan to merge the DA with basic pay at present. The DA continues to be revised twice a year. Und...

Mumbai: The country’s financial capital, Mumbai, has witnessed unprecedented growth in property sales, with November breaking all previous records. Strong infrastructure development, improved connectivity, and sustained buyer confidence have fueled this surge, making 2025 a record-setting year for the city’s real estate sector. Record-Breaking NumbersAccording to the latest data from the Inspector General of Registration and Controller of Stamps, Maharashtra, 12,219 property registrations took place in November alone—a 20% increase over last year. Residential properties accounted for 80% of total registrations, with demand particularly high for large and premium homes. The government’s revenue from registration and stamp duties reached ₹1,038 crore, a 12% increase from the previous year...

New Delhi: Poonam Sharma and Naveen Patwal, an engineer couple from Pauri Garhwal, Uttarakhand, have built a thriving business in exotic mushrooms after learning valuable lessons from a major setback. Today, their brand, Planet Mushroom, boasts an annual turnover of ₹15 crore. Learning from the LockdownThe couple, both with engineering backgrounds, faced a loss of ₹2 crore during the COVID-19 lockdown in March 2020. At that time, three tons of button mushrooms destined for Delhi’s Azadpur Mandi went to waste due to the sudden market closure. This disaster taught them two key lessons: never depend on a single buyer and diversify beyond a product with a very short shelf life. Diversification StrategyTaking the lessons to heart, Poonam and Naveen diversified into exotic mushrooms such a...