India Should Scrap Equity Tax on Foreigners, Says Edelweiss Head
· LiveMint Markets, Business Standard Mkts
India should consider removing the capital gains tax imposed on foreigners to help revive the country’s stock market, Edelweiss Financial Services Ltd. Chairman and Managing Director Rashesh Shah said, adding to a growing clamor for the exemption to boost inflows and support the local currency.
The analysis
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Market context
- A market-wide development: it reaches beyond any single stock.
- Sectors in the story: Financial Services, Capital Goods & Engineering and Capital Markets.
Financial Services
1M -0.2% · 3M -10.2%
Capital Goods & Engineering
1M -11.3% · 3M -10.2%
Capital Markets
1M +3.1% · 3M +1.5%
Sector moves are the average of the stocks we track in each sector.
In this story
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