The FM's statement today is not a policy change. It is not even a commitment to review.
She said she will listen. She listened before Budget 2026. Then did nothing.
The next budget is February 2027. Nine months away.
Until then — "willing to listen" is the oldest political phrase in the book.
In July 2024 the FM raised LTCG from 10% to 12.5% and STCG from 15% to 20%.
Sensex crashed 1,000 points the same day. Investors called it "cruel" and "madness."
Today she said she is "willing to listen." It gets interesting from here. 🧵
Here is the comparison nobody is making.
India taxes short term stock gains at 20%. The US taxes them as ordinary income at normal bracket rates from 10% to 37%. Singapore: zero capital gains tax. UK: zero on ISA accounts. Hong Kong: zero.
India competes for the same global capital with one hand tied behind its back.
The stock was at ₹820 at its 52 week low. Hit ₹2,875 today.
The market didn't re-rate an auto parts company.
It re-rated a precision engineering company with an aerospace and semiconductor order book — that happens to still make auto parts on the side.
The label was wrong. The business had already changed.
Most people read the headline. You just read the breakdown.
Most people know Sansera as an auto parts company.
The results just dropped. Profit more than doubled. Stock hit an all time high of ₹2,875 today.
The auto parts story is the decoy. It gets interesting from here.
The management roadmap makes this more interesting.
CEO Bindiganavile Preetham said the target is 40% revenue from non-auto and EV components — reducing reliance on ICE engines entirely.
They are already at 32%.
A company that lived and died by the internal combustion engine is systematically replacing that revenue with aerospace, defence and semiconductors.
Eight percentage points away from completing that transition.