Tax windfall: India Inc to increase capex spending, retire high-cost loans

With a surprise tax windfall in its kitty, Corporate India is redrawing its capital allocation strategy, plans to retire high-cost bank loans and, in a few cases, even giving the green signal to capacity expansion projects.  While the tax cut will help companies across most sectors, energy, financials, metals, and mining are going to see major improvement in their 2019-20 (FY20) bottom line. Oil-marketing firms would gain 17 per cent on their 2020 earnings, while the retail banks are expected to gain 14 per cent in FY20, according to an analysis by Edelweiss.  Among the p.....

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