Analysts predict significant upside for Reliance Industries, IIFL Finance, and Tech Mahindra. Reliance is expected to benefit from improved O2C performance and potential Jio listing updates. IIFL Finance could see sharp rerating due to microfinance recovery and lower costs. Tech Mahindra’s earnings growth potential is underestimated, with positive news expected regarding US policies.
FCNR(B) hurdle: Singapore holds ground on withholding tax
Given the spread between interest offered on FCNR deposits and interest charged on loans, a 10% WTH on loan interest on tax grossed-up basis would