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State-owned Oil and Natural Gas Corporation (<keyword id="6354737" type="General" weightage="100" keywordseo="ongc" source="Orion">ONGC</keyword>) has cancelled the bids received for its <keyword id="6392149" type="General" weightage="80" keywordseo="daman" source="Orion">Daman</keyword> upside gas development project off the western coast due to high price quotes, sources said. The project is crucial to ONGC's strategy of ramping up gas production from its shallow-water fields off India's west coast. Once completed, the project would lead to nearly doubling of current gas production of 4-5 million standard cubic metres per day. Sources aware of the matter said the bids ONGC received for the project were way higher than the company's internal estimates and so the tender has been cancelled. The tender would now be divided into separate packages and rebid. Engineering and fabrication contractor <keyword id="45475" type="General" weightage="20" keywordseo="larsen-toubro" source="Orion">Larsen &amp; Toubro</keyword> (L&amp;T) emerged as the lowest bidder when the bids were opened in December last year. It quoted a cost of USD 663.77 million to build the infrastructure needed to ramp up production from the field that lies about 60 kilometers off the west coast. A consortium of Afcons and Indonesia's Gunanusa Utama Fabricators emerged a distant second in the bidding, quoting close to USD 801.90 million. Vietnam's PTSC and Abu Dhabi's National Petroleum Construction Company (NPCC) were also among those initially chasing the contract, but did not participate in the bid process. Sources said L&amp;T's quote of USD 663.37 million was 36.77 per cent higher than ONGC's revised internal estimate of USD 485.03 million. L&amp;T offered a USD 1 million discount but this was not acceptable to ONGC, they said, adding that ONGC could have tolerated a maximum variation of 20 per cent over the internal price estimate. Daman upside gas development project envisaged building four new wellhead platforms, seven infield pipelines, a new process gas compressor module and the addition of low-pressure compression at the existing process platform. It also includes topsides modifications at existing wellhead platforms. The project has been in the works for years but has been delayed on several occasions due to unfavourable gas pricing. But a rise in domestic gas prices turned around the project's commercial viability. ONGC has been producing natural gas from Daman since 2016 and has spent an estimated USD 1 billion on offshore infrastructure at the field over the past five to six years. The project to raise production involved building infrastructure that could also handle gas from neighbouring B-12 and C-24 marginal fields. India's domestic crude oil and natural gas production has been dwindling in recent years and ONGC is under increasing pressure from the government to boost its output and reverse the declining trend. Projects like Daman are crucial for meeting those objectives but the scrapping of the tender would add to the delay in boosting output. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/8-things-that-google-bard-can-do-but-chatgpt-cannot/articleshow/100187360.cms">8 things that Google Bard can do, but ChatGPT cannot</a> <a href="https://www.businessinsider.in/tech/apps/news/how-to-silence-fake-calls-from-unknown-numbers-on-whatsapp/articleshow/100186824.cms">How to silence calls from unknown numbers on WhatsApp</a> <a href="https://www.businessinsider.in/tech/mobile/news/survey-reveals-three-out-of-four-indians-suffer-from-nomophobia-heres-what-it-means/articleshow/100073985.cms">Survey reveals three out of four Indians suffer from NoMoPhobia: Here’s what it means</a>

ONGC scraps bids for flagship Daman gas field development over cost concerns

In one of the biggest lay-offs in India so far, <keyword id="45475" type="CITY" weightage="100" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> fired 14,000 employees of its employees from the workforce, terming it an attempt to “right size” its strength. 
 L&amp;T laid-off 11.2% of its total workforce and said it was done in regards to business slowdown and also because <keyword id="6357550" type="UNKNOWN" weightage="20" keywordseo="Digitisation">digitisation</keyword> of operations caused redundancies that led to downsizing. 
 
"The company has taken a lot of initiative to right size staffing in various businesses. The digitisation and productivity enhancement initiatives taken by us boiled down to redundancies of roles and we have been able to shed as a group 14,000 in the six months to September,” Chief Financial Officer R Shankar Raman told ET. 
 
Raman said the lay-off is a "correction”, adding the move should not be viewed as a sequential event. 
 
As per reports, the company has been dealing with many challenges with customers deferring orders and falling oil prices contributing to a sharp slowdown in the Middle-east, one of its biggest bets. 
 
In the first half of FY17, its revenue increased 8.6% to Rs 46,885 crore. Profits rose to Rs 2,044 crore from Rs 1,197 crore a year ago. 
 
"If we believe that some business will take some time to get back to normalcy, it is important that we reduce under-recoveries. We are redefining roles and jobs which are redundant, we are allowing people to move on. It is across businesses,” Raman told ET, adding “financial services has defocused on certain lines of businesses and has let go a lot of people. Same is the case in minerals and metals.” 
 
L&amp;T has a five-year strategic plan in place and aims at touching revenue to Rs 2 lakh crore.

Larsen & Toubro fires 14,000 employees, calls it a “correction”

<ul><li>The scope of the project involves design, supply, construction and testing, and commissioning of the depot.</li><li><keyword id="6354919" type="General" weightage="20" keywordseo="lt" source="Orion">L&amp;T</keyword> is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It has operations in over 50 countries.</li><li>Shares of L&amp;T were trading marginally up by 0.06 per cent at ₹ 2,085.65 on <keyword id="35140" type="General" weightage="50" keywordseo="bse" source="Orion">BSE</keyword> in preclose session. </li></ul> <keyword id="147676" type="General" weightage="50" keywordseo="larsen" source="Orion">Larsen</keyword> and Toubro (L&amp;T) on Monday said it has bagged another "large" order in the proposed <keyword id="1025777" type="General" weightage="20" keywordseo="mumbai-ahmedabad" source="Orion">Mumbai-Ahmedabad</keyword> bullet train project from the National High-Speed Rail Corporation. The project involves commissioning of a depot spread over around 82 hectares in Gujarat, L&amp;T said in a filing to exchanges. Though the engineering and construction giant did not reveal the worth of the order, as per the project classification of the company, a large project falls in the range of ₹ 2,500 crore to ₹ 5,000 crore. "The buildings and factories business of L&amp;T Construction has secured an order from the <keyword id="6432751" type="General" weightage="20" keywordseo="national-high-speed-rail-corporation-limited" source="Orion">National High-Speed Rail Corporation Limited</keyword> (NHSRCL) to construct the Sabarmati Depot (MAHSR - D-2) in Gujarat for the (MAHSR project through a consortium led by <keyword id="1137882" type="General" weightage="50" keywordseo="sojitz-corporation" source="Orion">Sojitz Corporation</keyword>, Japan," it said. The scope of the project involves design, supply, construction and testing, and commissioning of the depot spread over approximately 82 hectares including various specialised equipment required to inspect and maintain the rolling stock based on the proven <keyword id="1932907" type="General" weightage="50" keywordseo="shinkansen" source="Orion">Shinkansen</keyword> technology and upon completion, will be the biggest depot in India for this purpose. L&amp;T is already executing civil viaduct and station packages (C4, C5 &amp; C6), special steel bridges packages P4(X) and P4 (Y), and ballastless track works for the bullet train project. L&amp;T is an Indian multinational engaged in EPC projects, hi-tech manufacturing and services. It has operations in over 50 countries. Shares of L&amp;T were trading marginally up by 0.06 per cent at ₹ 2,085.65 on BSE in preclose session. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/india-germany-ink-deal-on-comprehensive-migration-and-mobility-partnership/articleshow/96001711.cms">India, Germany ink deal on comprehensive migration and mobility partnership</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/kolkata-hyderabad-and-pune-remain-indias-most-affordable-residential-cities-jll/articleshow/96001910.cms">Kolkata, Hyderabad and Pune remain India’s most affordable residential cities: JLL</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/e-commerce-platform-carousell-lays-off-110-employees-to-reduce-costs/articleshow/95997109.cms">E-commerce platform Carousell lays off 110 employees to reduce costs</a>

L&T bags new large order in Mumbai-Ahmedabad bullet train project

<ul><li><keyword id="6698812" type="UNKNOWN" weightage="20" keywordseo="A-M-Naik">A M Naik</keyword>, the non-executive chairman of L&amp;T, earned ₹194 million ($2.7 million) last year after encashing all his accumulated leaves. </li><li>His total payout, which included a base <keyword id="10876" type="PERSON" weightage="20" keywordseo="salary">salary</keyword> of ₹27.3 million, came to ₹1.37 billion for the year. </li><li>A son of a village primary school teacher in Gujarat, Naik joined L&amp;T as junior engineer in 1965, rose through the ranks. </li></ul> Indians are famous for not taking a<a href="https://www.businessinsider.in/india-ranked-as-the-most-vacation-deprived-country-in-the-world-survey/articleshow/66749566.cms"> break</a> from work. And one of the biggest examples of that could be Anil Manibhai Naik. On January 26, the now retired non-executive chairman of industrial conglomerate <keyword id="45475" type="CITY" weightage="20" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> (L&amp;T), was awarded the Padma Vibhushan - India’s second-highest honour for civilians-- for his contribution to India’s corporate sector. The government honour caps a terrific 12-month period for Naik who made a staggering $3 million last year for unused leaves in his career spanning five decades. According to L&amp;T’s annual report for 2017-18, Naik earned <a href="http://investors.larsentoubro.com/upload/AnnualRep/FY2018AnnualRepL&amp;T-AR%202017-2018.pdf">₹194 million</a> ($2.7 million) last year after encashing all his accumulated leaves. His total payout, which included a base salary of ₹27.3 million, came to ₹1.37 billion for the year. His retirement gratuity benefits and the exercise of his stock options netted him more than ₹1 billion of his total. A son of a village primary school teacher in Gujarat, Naik joined L&amp;T as junior engineer in 1965, rose through the ranks, and eventually steered the construction major’s entry into the defence. The <a href="https://www.google.com/search?rlz=1C1GCEU_enIN820IN820&amp;ei=AMtOXM7cGYz2rQGWwqHgDw&amp;q=larsen+%26+toubro+share+price&amp;oq=larsen+%26+toubro+share+price&amp;gs_l=psy-ab.3..0l6.227.2088..2197...0.0..0.186.1303.0j11......0....1..gws-wiz.......0i71j0i67.5RttBKLKS0A">₹1.83 trillion</a> L&amp;T group today offers IT solutions and financial services too. Naik famously <a href="https://www.thehindu.com/news/cities/mumbai/the-man-who-took-on-ambani-birla-to-save-lt/article20553489.ece">fended off</a> takeover bids from by the <keyword id="10924" type="PERSON" weightage="20" keywordseo="Ambani">Ambani</keyword> family in the late 1990s. While he announced <a href="https://www.ibtimes.co.in/lts-am-naik-donate-75-his-lifetime-income-charitable-causes-691351">in August 2016</a> that he would give away 75% of his income to charitable causes over his lifetime-- that an executive’s unused leaves are worth $3 million will be an uncomfortable fact for millions more who slog through their lives without <a href="https://economictimes.indiatimes.com/news/economy/finance/indias-pension-system-ranked-near-bottom-among-major-economies/articleshow/61218172.cms">the assurance of a secured retirement</a>. SEE ALSO: <a href="https://www.businessinsider.in/oxfam-finds-that-indias-1-own-more-than-50-of-the-countrys-wealth/articleshow/67620424.cms">India’s billionaires saw their wealth grow by ₹22 billion every day last year while the poorest 50% only saw a 3% rise in income: Oxfam</a>

Calling in sick? Meet the Indian executive who made nearly $3 million for leaves he didn’t take

Larsen' and "Toubro" are not simply non-Indian names, they are unmistakably Danish. All in all, what are names from a far off Scandinavian nation doing on the marquee of an association which was depicted by India's Home Minister as being so naturally Indian that it has a place neither with the private segment nor people but for the country?

This is how 2 Danish
Engineers created one of the biggest infrastructure companies in India

Off lately, the complex field of underwater warfare has seen a leading player in the form of <keyword id="90593" type="COMPANY" weightage="100" keywordseo="Larsen-and-Toubro">Larsen and Toubro</keyword>. The engineering giant is now ready to get a major share in a Rs 5,000-crore deal with Russia; the deal would be done to upgrade and refit Kilo class submarines, originally belonging to Russia. 
 
L&amp;T, which is already a leading partner for the nuclear submarine project of the Indian Navy, has now been chosen as the Indian partner for the Kilo class refit. The program is meant to increase the life of these submarines by 10 years each, which would be done using some complex engineering. 
 
As per ET sources, the Indian government received a letter from Russia, stating that the earlier partnership plan that it had with the Pipavav (promoted by Anil Ambani) now stands cancelled. The reason behind this cancellation was the delay that would have happened at the end of the shipyard in meeting timelines set by the Navy for the upgrade plan. 
 
L&amp;T is expected to upgrade at least three submarines in India after this deal, making the yard a leading contender to receive similar orders from other neighbouring nations that operate Kilo class submarines. 
 
"A survey of the equipment profile and finances was conducted at the Cochin Shipyard, Pipavav and the L&amp;T yard at Kattupalli. Only the L&amp;T facility was found technically capable of carrying out the work in the given timeframe," an official involved in the process told ET. 
 
The first of the four Kilo class subs will be going to the Russian Zvezdochka shipyard where they would be inspected and refitted, while the remaining three would be handled at the Kattupalli yard. 
 
These refits will be extending the life of the subs while also upgrading their combat potential.

L&T partners with Russia for upgrading Kilo class submarines

Forget the metro or the latest speed giants roaring across Indian roads. Come Saturday (February 1) and India’s financial capital will be rolling out the country’s first-ever <keyword id="64918" type="UNKNOWN" weightage="100" keywordseo="Monorail">monorail</keyword>, connecting the central suburb of <keyword id="157686" type="CITY" weightage="100" keywordseo="Wadala">Wadala</keyword> to <keyword id="6366202" type="COMPANY" weightage="100" keywordseo="Chembur">Chembur</keyword> on the eastern outskirts of Mumbai and covering a distance of 8.93 km across seven stations in about 21 minutes. Currently, it takes around 40 minutes to cover this stretch. 
 <keyword id="81878" type="UNKNOWN" weightage="100" keywordseo="Mumbai-monorail">Mumbai monorail</keyword> will be formally inaugurated by <keyword id="26806" type="POSITION" weightage="80" keywordseo="Maharashtra-Chief-Minister">Maharashtra Chief Minister</keyword> <keyword id="6356262" type="PERSON" weightage="80" keywordseo="Prithviraj-Chavan">Prithviraj Chavan</keyword> on Saturday afternoon and the commute will be open for the masses from Sunday onwards. The two-phase project costs around Rs 3,000 crore and the second phase linking Wadala to <keyword id="2039948" type="UNKNOWN" weightage="100" keywordseo="Sant-Gadge-Maharaj-Chowk">Sant Gadge Maharaj Chowk</keyword> (popularly known as <keyword id="2039952" type="UNKNOWN" weightage="100" keywordseo="Saath-Rasta">Saath Rasta</keyword> and originally called <keyword id="2039957" type="UNKNOWN" weightage="100" keywordseo="Jacobs-Circle">Jacob’s Circle</keyword>) in south Mumbai will be operational within a year. 
 As of now, tickets are priced between Rs 5 and Rs 11 and a <keyword id="359126" type="TECHNOLOGY" weightage="100" keywordseo="smart-card-system">smart card system</keyword> is already in place, but there will be no <keyword id="2039963" type="UNKNOWN" weightage="100" keywordseo="Season-pass">season pass</keyword>. The seven stations on the Phase-I route include Chembur, <keyword id="2039964" type="UNKNOWN" weightage="100" keywordseo="VN-Purav/RC-Marg-Junction">VN Purav/RC Marg Junction</keyword>, <keyword id="2039965" type="CITY" weightage="100" keywordseo="Fertilizer-Township">Fertilizer Township</keyword>, <keyword id="75662" type="CITY" weightage="100" keywordseo="Bharat-Petroleum">Bharat Petroleum</keyword>, <keyword id="1351055" type="UNKNOWN" weightage="100" keywordseo="Mysore-Colony">Mysore Colony</keyword>, <keyword id="683956" type="UNKNOWN" weightage="100" keywordseo="Bhakti-Park">Bhakti Park</keyword> and <keyword id="6537145" type="ORGANIZATION" weightage="100" keywordseo="Wadala-Depot">Wadala Depot</keyword>. When the entire corridor starts working, tickets will cost Rs 5-19, across a total of 19 stations. 
 The monorail project has been executed by engineering major <keyword id="45475" type="CITY" weightage="100" keywordseo="Larsen-Toubro">Larsen &amp; Toubro</keyword> and Malaysian firm <keyword id="1563400" type="ORGANIZATION" weightage="80" keywordseo="Scomi-Engineering">Scomi Engineering</keyword>. It is owned and operated by <keyword id="64095" type="ORGANIZATION" weightage="100" keywordseo="Mumbai-Metropolitan-Region-Development-Authority">Mumbai Metropolitan Region Development Authority</keyword> (<keyword id="48470" type="ORGANIZATION" weightage="100" keywordseo="MMRDA">MMRDA</keyword>), which has already spent Rs 1,900 crore on both the phases. The civil work on the second phase has been completed as well. 
 Construction for the Chembur-Wadala-Jacob Circle (Sant Gadge Maharaj Chowk) route – a total distance of 19.17 km – started back in 2009 and was scheduled to be completed in April 2011. But the project got delayed for more than 2.5 years and only the <keyword id="2039976" type="UNKNOWN" weightage="100" keywordseo="Wadala-Chembur">Wadala-Chembur</keyword> section could be completed in the first phase. With the entire stretch becoming operational, it will be the <keyword id="2039979" type="UNKNOWN" weightage="100" keywordseo="Worlds-second-longest-monorail">world’s second longest monorail</keyword> corridor, after <keyword id="6355311" type="COUNTRY" weightage="100" keywordseo="Japan">Japan</keyword>’s Osaka Monorail (23.8 km). Apart from Japan, other countries running monorails include <keyword id="1334" type="COUNTRY" weightage="100" keywordseo="China">China</keyword>, <keyword id="8695" type="COUNTRY" weightage="100" keywordseo="Malaysia">Malaysia</keyword>, the <keyword id="6354458" type="COUNTRY" weightage="100" keywordseo="US">US</keyword>, <keyword id="87" type="COUNTRY" weightage="100" keywordseo="Germany">Germany</keyword> and <keyword id="6355478" type="COUNTRY" weightage="100" keywordseo="Australia">Australia</keyword>. 
 
Mumbai monorail is going to be a colourful affair, flaunting green, pink and blue. It will be able to peak to 80 km/hour while the average speed has been set at 65 km/hour. Initially, six trains will run from 7 in the morning till 3 in the afternoon. But from March onwards, it will function 19 hours a day and the train frequency will improve as well – from 15 minutes to nine and finally to three-four minutes. As of now, each train has 4 air-conditioned coaches and can carry as many as 560 passengers. After the second phase is commissioned, there will be 10 more trains with six coaches each and a total of 19 stations. 
 But will the monorail be an essential part of our daily commute once the novelty wears off? It is bound to bring some much-needed relief to Mumbaikars, struggling to cope with traffic snarls on a daily basis. But to make the good work really effective, the second phase should be completed at the earliest. One also wonders if the authorities will consider starting a <keyword id="2039974" type="UNKNOWN" weightage="100" keywordseo="Second-monorail-project">second monorail project</keyword> in and around Mumbai as was originally planned. Experts feel that the need for an expanded monorail corridor may arise after all the proposed metro rail routes are commissioned and there is further requirement for a seamless <keyword id="457467" type="UNKNOWN" weightage="100" keywordseo="feeder-service">feeder service</keyword>. And when that happens, the people of Mumbai are bound to have a completely hassle-free commute.

Mumbai Monorail Is
Now On Track; To Run From Feb 1

The entire country celebrating Raksha Bandhan today. But are you one of those elder siblings still mulling and stuck over the perfect gift to give your younger ones? Well, then it is time for you to move beyond your traditional gift ideas like sweets, gadgets, clothes, and jewelry, and invest in their future prosperity. How? By gifting them <keyword id="19905382" type="General" weightage="20" keywordseo="stocks" source="keywords">stocks</keyword>, or even mutual fund units. Here's a deep dive into how you can lay the foundations of a lasting bond with your siblings, and cement their financial future, one stock and one mutual fund unit at a time. <h2>How can I gift shares ?</h2>You can swiftly transfer shares online, provided both you and your siblings have a <keyword id="19977340" type="General" weightage="20" keywordseo="demat" source="keywords">demat</keyword> account. Many brokerage firms like Zerodha, Groww and others also offer this facility. For this, you will need to input details like your sibling's name (who you wish should receive these shares), particulars of their demat account, the amount of shares you wish to give as gift, and the name and 12-digit ISIN number of the company whose stocks you want to transfer. In addition, you will also have to provide the beneficiary owner ID of your siblings, reason for transferring these shares, and bank account details. In order to kickstart the process, you'll have to initiate what is known as an off-market settlement. This means without the stock exchange coming into the picture, two parties i.e. you and your sibling will mutually settle shares. For this, you will have to submit a delivery instruction slip (DIS) to your DP, or depository participant, which serves as a bridge between you and the depository. When you are transferring shares, you are essentially transferring your ownership of such stocks to them, and thus, you need to inform your DP and depository of the same. At present, there are only 2 depositories present in the country, namely NSDL and CDSL. You can submit this DIS both online and offline. If you have more than one siblings you wish to transfer shares to, remember to use separate DIS for each recipient's account. Once you initiate the transfer, your broker will send an email and SMS to the recipient, who will have 7 days to accept this. But remember, once you've transferred these shares, there is no provision to revoke this transfer. And just like with your clothes, accessories and everything else in life, your siblings will have full freedom and ownership to do whatever they deem fit with these shares! However, what you can certainly do, and make this gift more meaningful, is drive home the value of holding these securities for the long term, so that they are able to make the most of this investments. Ideally, a good start would be to start investing in stocks of large-cap, blue-chip companies, and them eventually complement them with small and midcap stocks, which offer higher legroom for growth. Per brokerage firm Master Capital Services Ltd, "consider choosing stocks from well-established companies with a solid track record and growth potential. It is essential to consider risk tolerance, investment horizon, and financial goals before selecting stocks for your brothers and sisters. The finest present you could give your siblings this year would be long-lasting financial stability". If you're looking for some stock recommendations you can consider for your siblings, we have you covered as well: <h4>Larsen &amp; Toubro Ltd. </h4>Why you should consider this? The company has shown consistent revenue growth and profitability in the past years while maintaining stability with its ROCE &amp; ROE of around 19% and 15%. L&amp;T has a significant global presence, with projects and operations in various international markets. This geographic diversification helps in tapping into global opportunities and reduces dependence on the domestic market. <h4>HCL Technologies Ltd. </h4>Why you should consider this? HCL Technologies is one of the IT giants of India, which is ranked amongst the top five Indian IT services companies in terms of revenues. HCL offers a wide array of IT, business services, engineering, R&amp;D services, and software products with operations in 60 countries. The company has been investing heavily in digital technologies, including cloud computing, artificial intelligence (AI), and automation. This focus aligns with current industry trends and positions the company to capture growth in the high-demand areas. <h4>TATA Motors Ltd.</h4>Tata Motors Limited is a leading manufacturer of automobiles and one of the largest OEM in India offering a wide range of passenger and commercial vehicles. Tata motors owns the flagship brand of Jaguar and Land Rover (JLR) which is a dominant automobile player in the global market. Its early entry in the electric vehicle segment has positioned it well ahead of many competitors and currently, it enjoys the largest market share in the EV segment in India. The focus on innovation and sustainability, along with a robust product lineup, positions Tata Motors well for future growth and market opportunities. <h2 style="margin-bottom: 0.7em; line-height: 1.3; color: rgb(0, 0, 0); font-size: 24px; background: 0px 0px; text-rendering: optimizelegibility;">Tax Implications of gifting shares</h2>The best part about gifting shares is that it is tax-exempt, since you're giving it to your relative. This means your sibling will not be liable to pay any taxes on this gift. However, to be on the safer side, make sure that the market value of the shares that you gift them does not exceed Rs 50,000, or else your siblings, i.e. the recipient will have to incur a tax liability. If your siblings decide to sell these gifted shares, they will have to pay LTCG (long-term capital gains) tax at the rate of 12.5%, or STCG (short-term capital gains) tax at the rate of 20%, depending on how long they hold these securities for. <h2>Gifting mutual fund units? </h2>Unfortunately, you cant transfer your mutual fund units to your siblings. The transfer of mutual fund units is only possible in case the unitholder passes away. But the one thing you can certainly do is start an SIP, or systematic investment plan (SIP) in their name. With as much as Rs 5,000 per month, invested over a period of 10 years, you 'll have invested Rs 6,00,000 for you siblings, which would have earned returns worth Rs 5,61,695, taking their total corpus to Rs 11,61,695. You can even start an SIP with just Rs 500/month in their name. You can nudge them into continuing this, so that you instill the value of financial discipline and long-term investing in them. Remember, at the end of the day, the true value of your gift lies not just in its monetary worth, but in the knowledge, responsibility, and financial acumen that you will pass on to your siblings. So, this <keyword id="22639140" type="General" weightage="100" keywordseo="Rakshabandhan" source="keywords">Rakshabandhan</keyword>, consider tying not just a rakhi, but also a knot of financial empowerment.

You Searched For "Larsen Toubro lays off" and got 8 results

ONGC scraps bids for flagship Daman gas field development over cost concerns

PTI

Larsen & Toubro fires 14,000 employees, calls it a “correction”

BI India Bureau

L&T bags new large order in Mumbai-Ahmedabad bullet train project

PTI

Calling in sick? Meet the Indian executive who made nearly $3 million for leaves he didn’t take

Dilsher Dhillon

This is how 2 Danish Engineers created one of the biggest infrastructure companies in India

Gaurav Sangwani

L&T partners with Russia for upgrading Kilo class submarines

BI India Bureau

Mumbai Monorail Is Now On Track; To Run From Feb 1

Sanghamitra Mandal

Move over regular gifts! Gift your sister stocks, MF units this Rakhi

Ira Alok Puranik

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