Here is a collection of the most important stories this evening:
November GST collections at Rs 1.46 lakh crore, down 3.9% from October
India collected Rs 1.46 lakh crore as Goods and Services Tax (GST) in November, the finance ministry said on December 1. At Rs 1.46 lakh crore, the GST collections for November are up 10.9 percent compared to the same month last year, but 3.9 percent lower from October.
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SoftBank to sell 5% stake in Policybazaar via block deal tomorrow
SoftBank is likely to sell a 5 percent stake in Policybazaar via a block deal on December 2, CNBC Awaaz reported on December 1, citing sources. The stake that would be offloaded would be worth Rs 1,000 crore, the report said. The block deal, as per the report, is likely to be at a 5 percent discount to its closing price of December 1.
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Govt cuts windfall tax on locally produced crude oil and diesel exports
The Central government on December 1 said that it has further cut windfall tax on locally produced crude oil and diesel exports. The tax on crude oil produced by firms such as state-owned Oil and Natural Gas Corporation (ONGC) has been reduced to Rs 4,900 per tonne from the existing Rs 10,200 per tonne, as per a government notification.
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Yes Bank gets conditional approval from RBI for planned stake sale to Carlyle, Advent
Private sector lender Yes Bank said on December 1 that its planned stake sale to Carlyle Group and Advent International has received conditional approval from the Reserve Bank of India. Both the Carlyle Group and Advent are to acquire 10 percent stake each in the private sector lender, with both investing money into the bank against 184.8 crore equity shares and Rs 128.37 crore warrants each.
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Maruti Suzuki total sales up 14.4% YoY to 1.59 lakh units in November
India's largest carmarker in terms of market share, Maruti Suzuki India , on December 1 stated that its total sales for the month of November rose 14.4 percent year-on-year to 1.59 lakh units as compared to 1.39 lakh units in the same month last fiscal.
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City gas distributors to gain most from Kirit Parikh panel pricing recommendations
City gas distribution companies stand to benefit the most if the recommendations of the Kirit Parikh committee on gas pricing are implemented, brokerages said. The committee, which submitted its report on November 30, suggested a floor price of $4 per metric million British thermal units (mmBtu) and a cap of $6.50 per mmBtu for gas produced from legacy and old domestic fields. The cap will rise by 50 cents every year, according to the recommendations, and pricing will be deregulated from January 2027.
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Mumbai airport servers restored after two hours of chaos and confusion
A technical snag at the Chhatrapati Shivaji Maharaj International Airport on December 1, which lasted nearly two hours, caused huge chaos and confusion. Airport authorities explained: “There was a network interruption resulting from a cable cut during some construction work in the city. This interrupted the various ticketing systems. All systems are now restored and working.”
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Gujarat Assembly elections: Phase 1 voting ends, 59.24% voter turnout recorded
An average 59.24 per cent voter turn-out was recorded as of 5 pm on Thursday across 89 Assembly seats in the first phase of Gujarat elections, election officials said.
While voting began at 8 in the morning and ended at 5 pm, the final turn-out would be higher as the process continued at the polling stations where voters had arrived before 5 pm and were standing in queues. The fate of 788 candidates will be decided in the first phase.
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