Morning Buzz: Macro indicators in positive zone; Murugappa family agreement comes into effect, and more

India’s GST collection increased to Rs1.72 lakh crore in October. Image: Shutterstock

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)

Several macro indicators in positive zone

India’s GST collection increased to Rs1.72 lakh crore in October. Car sales rose to a record 391,472 in anticipation of festive season sales in Diwali. Power consumption was up by 21 percent to 138.9 billion units, and diesel and petrol sales rose by 5 percent and 3 percent respectively. Two blips in the data included the manufacturing PMI that slipped to 55.5, indicating the slowest expansion since February. And tractor sales fell to 117,714 units.