Moneycontrol Selects: Top stories this morning

MC selects.

Here is a collection of the most important stories this morning:

Zomato gains on platform fee hike; stock up 106% in 1 year, CLSA sees more upside

Zomato shares opened higher on January 2 as international brokerage CLSA stays bullish on the stock after the food delivery major raised its mandatory platform fee, charged from users, from Rs 3 to Rs 4 in its key markets. According to analysts at CLSA, the 33 percent platform fee hike would partially offset the impact of GST on delivery charges. The brokerage has a 'buy' call on the stock with a target price of Rs 168 per share. Read More

LIC faces Rs 806-cr GST notice from Maharashtra, plans to challenge order

State-owned Life Insurance Corporation of India received a GST notice of Rs 806.3 crore from the Maharashtra deputy commissioner of state tax for various compliance-related shortcomings in FY 2017-18. The demand notice includes Rs 365.02 crore of GST dues, Rs 404.7 crore of penalty, and an interest payment of Rs 36.5 crore. Read More

From return of FIIs to sustainable growth: 7 themes to ride on in 2024

The exuberance in the domestic markets is likely to continue in 2024, feel analysts, given the heady cocktail of positive factors — the return of FIIs, rate cuts, political stability, weak dollar and the Indian economy’s strength relative to peers. From the various narratives surrounding the election-driven markets to strategies around infrastructure and digital transformation, here are experts’ seven key themes to watch out for in 2024. Read More

Windfall tax on petroleum crude oil raised, cut to nil on diesel and ATF

India has hiked the windfall tax on crude oil while reducing the tax on diesel and aviation turbine fuel, according to a government notification. The government hiked the windfall tax on petroleum crude oil to Rs 2,300 ($27.63) a ton from Rs 1,300, it said. Read More

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New Year Yet No Resolution: Delhi continues to grapple with 'Very Poor' air quality in 2024

Residents of Delhi experienced little relief from the ongoing problem of air pollution, with the national capital registering a 'very poor' Air Quality Index (AQI) on January 2. According to data from the Central Pollution Control Board (CPCB), the overall AQI for Delhi at 6:30 am on January 2 stood at 346. Read More

Ashok Vaswani assumes charge as Kotak Mahindra Bank's MD and CEO; key things to know about him

Kotak Mahindra Bank on January 1 announced that veteran banker Ashok Vaswani has taken over as the Managing Director (MD) and CEO of the bank. He succeeded Dipak Gupta, who served as the interim MD and CEO after founder director Uday Kotak stepped down as the head of the bank, effective September 1, 2023. The Reserve Bank of India (RBI) in October 2023 approved the appointment of Vaswani as the bank's MD and CEO for a period of three years. Read More