MUMBAI: Minutes after India 's surprise announcement of a 10 percent long-term capital gains tax on equities, Rakshit Sethi's inbox began filling with emails from worried foreign investors. Sethi, managing director at investment firm Fair Value Capital, could offer few words of comfort. "There is no way to sugar coat it," he said. "India was looking expensive even prior to this," he said. "So to that extent, there was just too much over-optimism in India and it gives you reason to correct in the market.

Source: Economic Times February 06, 2018 12:22 UTC