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A 10% jump for India Inc earnings after Modi govt cut taxes, say analysts

The surprise reduction in corporate tax drove a 5.3 per cent surge in the S&P BSE Sensex Index to 38,014.62 on Friday, its biggest gain since May 2009

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India’skeystockgauges’earningsestimateshavebeenraisedbyasmuchas10%byanalystsafterFinanceMinister NirmalaSitharaman delivereda$20billiontaxbreakinherlatestattempttoboosteconomicgrowthfromasix-yearlow. Thesurprisereductionin corporatetax drovea5.3percentsurgeintheS&PBSESensexIndexto38,014.62onFriday,itsbiggestgainsinceMay2009.Thegovernment’smovemayimproveearnings,marginsandhelpinitiatecapacityexpansionbeforeapotentialimprovementinconsumerdemandinthefestival ...