From HDFC Bank to ITC: Shopping list of brokerages post corporation tax cut

A cut in corporation tax to an effective 25.2 per cent on Friday triggered a rally at the bourses, with the S&P BSE Sensex surging over 3,000 points in just two days. In this backdrop, most brokerages – domestic and foreign – have recast their target levels for the frontline indices. 

While they acknowledge a possible rise in the fiscal deficit as a result of this measure, they do suggest investors who with a long-term investment horizon use the opportunity to buy, especially on any decline in the index levels.