The stock dipped 5% to Rs 87 on the BSE, after rallied 14% on Monday.
Sale of 9.75% to LTS Investment fund fetches profit of Rs 33 cr for Oswals; says wish to re-focus on core areas
Oswal Greentech holds a 14.17% stake in NDTV as of June 30 which it acquired in 2011 for Rs 24.4 crore; at current prices, the sale is expected to net Rs 82 crore
New Delhi Television (NDTV) has got partial relief from Income Tax Appellate Tribunal (ITAT) in a case related to payment of income tax. The ITAT has disallowed a tax claim by the Income Tax department in excess of Rs 22 crore from the Delhi-based media company for the assessment years 2007-08 and 2008-09.Earlier, the firm got tax relief under the same case from ITAT for AY2006-07. The I-T department had disallowed expenditure aggregating in excess of Rs 50 crore incurred by the media company during AY2006-07 and AY2010-11.While, the I-T department added Rs 22.09 crore on NDTV's tax bill for the two assessment years. ITAT has asked the firm to pay Rs 12,00,000. It has "also asked the tax officer to allow additional allowance of employee stock ownership plan (ESOP) expenses. According to the claim of ESOP expenses now allowed to NDTV is Rs 43.53 crore as against original claim of Rs 21 crore. This will mean NDTV will pay even lower tax than earlier", the company informed the Bombay Stoc
Revenues for the group decreased 8 per cent for the Q1 of FY 2016-17 against Q1 of FY 2015-16
The I-T department had disallowed expenditure aggregating in excess of Rs 50 crore incurred by the media company
NDTV claims the violations in the notice are merely procedural
NDTV board has announced a restructuring of its business intending to list NDTV Convergence in the stock market