Indian Stocks Rise as Reliance Gains 11.6%, SEBI Tax Recommendation Reported

Contributing sentiments towards policy:

57% : On Oct. 30, the company announced record consolidated quarterly EBITDA (earnings before interest, taxes, depreciation and amortization) of ₹62,409 crore, up 23.9% from a year earlier, and consolidated profit after tax of ₹29,550 crore, up 33.8%.
56% : India's Income Tax Department lists a 12.5% rate for relevant long-term gains on securities held by foreign institutional investors under applicable provisions.
53% : EconoTimes previously covered SEBI's reported recommendation on foreign portfolio investor taxes.
52% : Indian equities closed higher Monday, Nov. 2, led by Reliance Industries, as investors weighed a Reuters report that the Securities and Exchange Board of India (SEBI) recommended ending long-term capital-gains tax for foreign investors.
49% : If adopted, the proposals would eliminate long-term capital-gains tax on qualifying equity gains for foreign investors and on qualifying mutual fund switches.
48% : Reuters also reported that SEBI proposed allowing mutual fund investors to move holdings into other schemes without long-term capital-gains tax if they had held the units for more than a year.

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