Nifty, Sensex soar nearly 6% as government cuts taxes to prop up growth [Reuters]
HDFC Bank Limited (HDB)
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Source: Reuters
Nifty, Sensex soar nearly 6% as government cuts taxes to prop up growth - Reuters 3 Min Read (Reuters) - Indian shares surged nearly 6% on Friday and were set for their best day in more than a decade after the government announced deep cuts in corporate taxes to revive flagging growth in Asia’s third-largest economy. Finance Minister Nirmala Sitharaman said the effective corporate tax rate would be lowered to around 25% from 30% and scrapped the minimum alternative tax for domestic companies. Governments and central banks around the world have been loosening monetary and fiscal policies to revive economic growth hurt mainly by the ongoing U.S.-China trade war and weak consumer demand. India’s moves are the latest in a raft of measures from the government to lift the economy after growth hit a six-year low in the April-June period, mainly dragged by a slump in private investment. “The measures announced by the finance minister this morning can be described as a ‘New Deal’ for the India
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HDB
News
- HDFC Bank Limited (NYSE: HDB) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating.MarketBeat
- 100 Countries with Lowest GDP Per Capita [Yahoo! Finance]Yahoo! Finance
- HDFC Bank: The Jury Is Still Out, Although The Risk-Reward Is In A Better Place [Seeking Alpha]Seeking Alpha
- 20 Fastest Growing Economies in Asia in 2024 [Yahoo! Finance]Yahoo! Finance
- HDFC Bank Limited (HDB) Benefitted From the Strong Growth of the Indian Economy [Yahoo! Finance]Yahoo! Finance
HDB
Sec Filings
- 5/2/24 - Form 6-K
- 4/29/24 - Form 6-K
- 4/29/24 - Form 6-K
- HDB's page on the SEC website