Sensex Today | Share Market Live Updates: Sensex, Nifty to start under caution; Gift Nifty trades lower
Tata Elxsi, the design and digital technology division of the Tata Group, recently disclosed a net profit of ₹200 crore in the quarter ending September 2023, according to a regulatory filing submitted on October 17.This net profit marks a 14.8% annual growth, given that it was ₹174.3 crore in the corresponding period last year. Moreover, the company's net profit witnessed a sequential increase of 5.9% from ₹188.9 crore, which was reported in the June 2023 quarter.
(Read More)Vaishali Parekh, Vice President — Technical Research at Prabhudas Lilladher recommends:2. BUY WEST COAST PAPER at 754.40 stoploss 742 Target 7903.
BUY CYIENT at 1777.85 stoploss 1755 Target 1860 (Read More)The Bombay High Court is currently being approached by the Income Tax Department to contest a tribunal order favoring the Life Insurance Corporation (LIC) in tax dispute cases amounting to a cumulative sum of ₹4,993 crore.The specific matter revolves around two tax dispute cases concerning amounts of ₹1,838.8 crore and ₹3,153.9 crore, respectively, both associated with the assessment year 2013-14.The Mumbai bench of the Income Tax Appellate Tribunal had previously issued a ruling in support of the LIC in both these cases. (Read More)Bharti Airtel and Reliance Jio could face potential tax demands exceeding ₹14,000 crore due to the Supreme Court’s recent decision on licence fee categorisation, according to analysts.
The judgment stipulated the treatment of the licence fee as capital, a departure from its previous classification as an expenditure.While the judgment implies a heightened tax liability, the real impact may be mitigated by factors like depreciation and amortization spanning the 20-year licence tenure, brokerage firms noted. It is
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