Daily Market Highlights | 5th August 2021 📊
NIFTY50: ₹16,294.60 | +0.22%
Top Gainers 📈
BHARTIARTL: +3.86%
EICHERMOT: +3.45%
ITC: +3.07%
TECHM: +2.75%
TATASTEEL: +2.32%
Top Losers 📉
SBIN: -3.28%
INDUSINDBK: -2.33%
ICICIBANK: -1.84%
BAJFINANCE: -1.75%
BAJAJFINSV: -1.30%
NIFTY50: ₹16,294.60 | +0.22%
Top Gainers 📈
BHARTIARTL: +3.86%
EICHERMOT: +3.45%
ITC: +3.07%
TECHM: +2.75%
TATASTEEL: +2.32%
Top Losers 📉
SBIN: -3.28%
INDUSINDBK: -2.33%
ICICIBANK: -1.84%
BAJFINANCE: -1.75%
BAJAJFINSV: -1.30%
Govt tables taxation law amendments to repeal retrospective tax
https://www.moneycontrol.com/news/business/economy/govt-introduces-taxation-laws-amendment-bill-to-nullify-retro-tax-demands-7283341.html
Download moneycontrol app: http://m.moneycontrol.com/mom
https://www.moneycontrol.com/news/business/economy/govt-introduces-taxation-laws-amendment-bill-to-nullify-retro-tax-demands-7283341.html
Download moneycontrol app: http://m.moneycontrol.com/mom
Moneycontrol
Govt Buries Ghosts Of Retrospective Tax, Tables Taxation Law Amendments In Lok Sabha
"The Bill proposes to amend the Income-tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28th May…
*Bajaj Consumer Care Ltd.* | *CMP* Rs. 273 | *M Cap* Rs. 4028 Cr | *52 W H/L* 324/162
(Nirmal Bang Retail Research)
*Result marginally below expectation*
Revenue from Operations came at Rs. 215.3 Cr (-12.5% QoQ, 9.8% YoY) vs expectation of Rs. 229.9 Cr, QoQ Rs. 246 Cr, YoY Rs. 196.1 Cr
EBIDTA came at Rs. 52.3 Cr (-13.9% QoQ, -8% YoY) vs expectation of Rs. 59.6 Cr, QoQ Rs. 60.8 Cr, YoY Rs. 56.9 Cr
EBITDA Margin came at 24.3% vs expectation of 25.9%, QoQ 24.7%, YoY 29%
Adj. PAT came at Rs. 48.9 Cr vs expectation of Rs. 55.7 Cr, QoQ Rs. 53.9 Cr, YoY Rs. 54.2 Cr
Quarter EPS is Rs. 3.3
Share is trading at P/E of 16.6x FY22E EPS
(Nirmal Bang Retail Research)
*Result marginally below expectation*
Revenue from Operations came at Rs. 215.3 Cr (-12.5% QoQ, 9.8% YoY) vs expectation of Rs. 229.9 Cr, QoQ Rs. 246 Cr, YoY Rs. 196.1 Cr
EBIDTA came at Rs. 52.3 Cr (-13.9% QoQ, -8% YoY) vs expectation of Rs. 59.6 Cr, QoQ Rs. 60.8 Cr, YoY Rs. 56.9 Cr
EBITDA Margin came at 24.3% vs expectation of 25.9%, QoQ 24.7%, YoY 29%
Adj. PAT came at Rs. 48.9 Cr vs expectation of Rs. 55.7 Cr, QoQ Rs. 53.9 Cr, YoY Rs. 54.2 Cr
Quarter EPS is Rs. 3.3
Share is trading at P/E of 16.6x FY22E EPS
Taxsutra Breaking News - Govt. withdraws retrospective amendment to 'indirect transfers' made in 2012, to now apply prospectively!!! Big impact on Vodafone tax case... @Taxsutra .... hugeeee!
Breaking news:
Indian Govt suddenly withdraws Indirect transfer capital gain provisions for years prior to 2012.
This apparently is done to give benefit to Vodafone UK, which was in litigation since 15 years with Indian income tax department. Hopefully Vodafone UK will pump more money into "Idea" now....
Cairn UK will also be a beneficiary of this...
Indian Govt suddenly withdraws Indirect transfer capital gain provisions for years prior to 2012.
This apparently is done to give benefit to Vodafone UK, which was in litigation since 15 years with Indian income tax department. Hopefully Vodafone UK will pump more money into "Idea" now....
Cairn UK will also be a beneficiary of this...
Highly positive news for Vodafone Idea and Cairn
https://www.moneycontrol.com/news/business/economy/govt-introduces-taxation-laws-amendment-bill-to-nullify-retro-tax-demands-7283341.html
https://www.moneycontrol.com/news/business/economy/govt-introduces-taxation-laws-amendment-bill-to-nullify-retro-tax-demands-7283341.html
Moneycontrol
Govt Buries Ghosts Of Retrospective Tax, Tables Taxation Law Amendments In Lok Sabha
"The Bill proposes to amend the Income-tax Act, 1961 so as to provide that no tax demand shall be raised in future on the basis of the said retrospective amendment for any indirect transfer of Indian assets if the transaction was undertaken before 28th May…
Tata Chemicals reports Q1 earnings
🔸Net profit at Rs 342.1 cr Vs Rs 74.1 cr (YoY)
🔸Revenue up 26.8% at Rs 2,977.2 cr Vs Rs 2,348.2 cr (YOY)
🔸EBITDA up 67.1% at Rs 601.2 cr Vs Rs 359.7 cr (YoY)
🔸EBITDA margin at 20.2% Vs 15.3% (Yoy
🔸Net profit at Rs 342.1 cr Vs Rs 74.1 cr (YoY)
🔸Revenue up 26.8% at Rs 2,977.2 cr Vs Rs 2,348.2 cr (YOY)
🔸EBITDA up 67.1% at Rs 601.2 cr Vs Rs 359.7 cr (YoY)
🔸EBITDA margin at 20.2% Vs 15.3% (Yoy
Bharti Airtel headed for a multi-year breakout; stock can double from here
https://mybs.in/2ZgbqJk
－shared via Business Standard iPhone App
https://mybs.in/2ZgbqJk
－shared via Business Standard iPhone App
Business-Standard
Bharti Airtel headed for a multi-year breakout; stock can double from here
The Sunil Mittal-owned company reported a net profit of Rs 283.5 crore in the first quarter of the current fiscal (Q1FY22), which was much lower than the consensus estimates