Morning Buzz: Macro indicators in positive zone; Murugappa family agreement comes into effect, and more
GST collection increased to Rs1.72 lakh crore in October while car sales rose to a record 391,472. Legal proceedings initiated by some Murugappa family members would be withdrawn
Laptop import proposals worth $10 billion cleared
As the system of pre-clearing laptop imports comes into force, the Centre has received 110 applications for imports of $10 billion. Applications have come in from Lenovo and Xiaomi as well as Dell, Apple and HP. This indicates that the government is planning a liberal clearance policy, and as of now, there is no aim at curbing imports.(Financial Express)
Mutual funds draw flak for investing in Honasa Consumer IPO
Mutual funds that subscribed to the Mamaearth IPO are facing flak on social media. A third of the anchor book was allotted to mutual funds. The issue has been subscribed 70 percent on Day 2. With rich valuations and post listing swings, investors had expected funds to be more circumspect. Investors said that saying it is a minuscule portion of funds invested is not a sufficient justification.(BusinessLine)