“We remain positive on India’s growth story given strong tailwinds and expect steady returns with a stock-specific approach,” Prabhudas analysts Amnish Aggarwal and Anushka Chhajed said, adding that the June quarter saw sales beat of 0.6 per cent, while EBITDA and PBT were lower than estimates by 6.5 per cent and 9.7 per cent, respectively.
Jane Street may take Singapore route to sort out India tax row
With the Income Tax (I-T) department questioning the tax benefits it had claimed, the Wall Street firm is understood to be working on initiating the