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Mutual funds may soon get to offer investment products that have been accessible mostly to rich investors with bigger amounts to invest. The Securities and Exchange Board of India (Sebi) has proposed to introduce a new asset class for investors, who want to put between Rs10 lakh and Rs50 lakh in differentiated investment strategies such as Long-short equity and Inverse Exchange Traded Funds, among others. Investors can invest a minimum of Rs 10 lakhs in such products, below the threshold of Rs 50 lakh for portfolio management service (PMS) and Rs 1 crore for alternative investment funds (AIFs). The minimum investment size of mutual funds is as low as Rs 500 and there is no cap. Several affluent investors put money in PMS and AIFs for more focused and unique investment strategies.

Car services and repair platform GoMechanic, which was on the verge of collapse about a year-and-a-half ago, on Tuesday said it achieved operational profit in the June 2024 quarter under the new management. The company was acquired by Servizzy, a subsidiary of the Lifelong Group, in March 2023 after anomalies in its financial records were found under previous management and the firm was put on sale by the investors. Under the new management, GoMechanic has posted a revenue of Rs 210 crore in the financial year 2023-24 and a revenue of Rs 85 crore in the April-June 2024 quarter.

The Dow Jones Industrial Average surged to a new record high Tuesday, as blue chips gained while tech stocks lagged.

₹5,500-crore initial public offering.“Some of the weaker players have already fallen off over the last year, last few months, and the larger players - the top five- six people - are contributing to 80% plus of the industry... So, in one sense the consolidation has happened," Rakesh Sharma, executive director, Bajaj Auto, said at a post-earnings press conference.He emphasized that as Baja Auto and other electric two-wheeler makers widen their distribution networks and expand their product portfolios, Ola Electric will feel the heat.

Gold prices advanced Tuesday, on track for a record close as rising expectations of a September interest rate cut bolstered demand for bullion.

Gold prices rose on Tuesday as comments from Federal Reserve Chair Jerome Powell bolstered the case for a September rate cut, while investors awaited more U.S. economic data for further monetary policy cues. Spot gold gained 0.8% to $2,440.29 per ounce by 1207 GMT. The bullion hovers only slightly below the record high of $2,449.89 hit on May 20.

₹39,999 for the 8GB RAM/128GB storage and ₹42,999 for the 12GB RAM and 256GB storage variant. Meanwhile, the OnePlus Stylo 2 is priced at ₹5,499 and OnePlus smart keyboard is priced at ₹8,499.The tablet will be available to buy on Amazon, OnePlus's own website and select retail outlets. The OnePlus Pad 2 features a 12.1-inch LCD 3K display with a resolution of 3,000 × 2,120 pixels and a peak brightness of 900 nits.

NEW YORK—For die-hard fans of the Rubik’s Cube, it isn’t about whether you can crack the iconic puzzle. It’s about how fast. In a bustling hotel ballroom in Queens, some 90 competitors are practicing or locked in a speed-cubing showdown, racing to match all sides of the three-dimensional puzzle.

Mint. The plan involves launching at least one satellite in collaboration with ISRO for weather profiling in each state, and increasing by ten-fold, the number of observation stations, rain gauges, radiosonde (a meteorological device that measures atmospheric parameters and transmits it back to ground stations) and wind profilers deployed in the country.

Fraud Risk Management in commercial banks including regional rural banks and all India financial institutions. The RBI said in a circular dated July 16, 2024, “These master directions have been prepared based on a comprehensive review of the earlier Master Directions, circular and emerging issues. These Master Directions are principle-based and strengthen the role of the Board in overall governance and oversight of fraud risk management in the Regulated Entities (REs).” The Reserve Bank of India issued three revised Master Directions on Fraud Risk Management for the Regulated Entities, namely for:

ONGC) achieved a milestone as its share price surged past Rs 323 with a 5.18 per cent intraday gain on Tuesday. This performance propelled ONGC's market capitalization to Rs 4.06 lakh crore, marking the highest in the company's history. The surge in share prices is a testament to ONGC's robust financial health and strategic direction.

KPI Green Energy had announced July 18 as the record date for the purpose of its 1:2 stock split. This means that today is the last day to buy the shares in order to qualify for the split, since July 17 is a market holiday. Earlier in the month of May, KPI Green Energy had announced that it will be splitting its shares in the ratio 1:2, which means that for every share having face value of Rs 10, there will now be 2 shares having face value of Rs 5.

Apple’s sales in India leapt 33% to nearly $8 billion in 2023-24 over what it recorded the previous year, according to a Bloomberg report on Monday, with iPhones notching up over half that total. While the company’s exports of locally assembled handsets were worth far more at $14 billion last year, the brand’s rising domestic offtake speaks of success on another front: its grand challenge of converting an Android-dominated market for smartphones to its iOS devices.

The Hong Kong Securities and Futures Commission (SFC) has identified seven unauthorized cryptocurrency exchanges and placed them on its Alert list for conducting unauthorized activities in the region without obtaining the required licenses.

Around three months after the president of its annuity business announced plans to retire at the end of the year, Nationwide has found a suitable successor to the role.

dinosaur has been mounted for display at Los Angeles' Natural History Museum. The newly found species is older than Tyrannosaurus rex, as per a Fox News report. The species is known as "Gnatalie" and it lived 150 million years ago in the late Jurassic Era. The dinosaur's fossils, remarkable for their distinct and vibrant hues, owe their unique coloration to the presence of the mineral celadonite. During the fossilization process, this mineral infiltrated the bones, replacing the original organic material and imparting its characteristic greenish tint.

Several commercial fishermen in New England have been sentenced in a fraud scheme that centered on a critically important species of bait fish and that prosecutors described as complex and wide-ranging

Eras Tour, Taylor Swift had an unexpected moment when she swallowed a bug by mistake while on stage. It happened on Saturday, July 13, in Milan, while she was singing «I Almost Do» and playing the piano. She started coughing shortly after the song began and told the crowd that she needed some time to gather herself, as per the reports of 'The Mirror'. She asked for a moment to cough and said she expected it to happen because there were so many bugs that night. She recovered from the event and continued her act after clearing her throat. She had already dealt with a similar peculiar difficulty while performing live in Chicago and London. This wasn't the first time she faced it.

Stocks that traded heavily or had substantial price changes on Monday: Macy’s and Burberry fall; Trump Media and Tesla rise

The world’s largest asset manager has just gotten much bigger.

MUMBAI: Nielsen Media, a global major in audience measurement and analytics, has picked up an office space spread over four floors in a commercial complex in Mumbai’s western suburb Goregaon through a long-term lease of over 10 years. The total rental outgo for the company for the over 152,000 sq-ft office space in commercial tower Oberoi Commerz III, part of larger layout Oberoi Garden City, will be more than Rs 465 crore over 10 years without factoring in any rental escalation. The agreement includes a clause to escalate lease rentals by 15% every three years and a five-year lock-in period.