Tax Tangle
Infosys to challenge new tax demand
Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees income tax demand raised by Indian authorities earlier this month. Full Article
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MARKET EYE-Morgan Stanley adds Shriram Transport Finance to Asian banks model
* Morgan Stanley adds Shriram Transport Finance Co to its Asian banks model portfolio with 5 percent weight, while maintaining 15 percent weight on HDFC Bank. * The investment bank expects Asian banks to post "meager" earnings growth in the next year. "This coupled with mild economic recovery, will likely cause market to keep rewarding stocks with strong EPS growth outlook. * Morgan Stanley also lists Housing Development Finance Corp , LIC Housing Finance, IndusInd Bank , Yes Bank among other Indian lenders, while maintaining underweight stance on India's government owned banks. (abhishek.vishnoi@thomsonreuters.com /; abhishek.vishnoi.reuters.com@reuters.net)
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