Live
- Nagarkurnool: Burglary in a locked house
- Nadda asks voters to unseat BJD govt
- KCR Rally at Hanumakonda Chowrastha Road Show for Warangal Parliamentary Elections
- Yastika, Renuka Thakur star in India’s 44-run win over Bangladesh in T20I series opener
- Sai Sangeeta won gold medal for India in Dubai Asian Championship
- BSP's Akash Anand booked for hate speech against BJP
- Two die of sunstroke in Kerala, heat alert sounded in parts of state
- IPL 2024: Will Jacks, Kohli shock Gujarat, keep RCB's playoff hopes alive
- IPL 2024: 'Can't sit and speak from a box', Virat Kohli slams strike-rate critics
- ISL 2023-24: We have to give our everything, says FC Goa's Fernandes ahead of semis clash with Mumbai City
Shree Cement shares crash amid reports of Rs 4,000 crore tax demand
The shares of Shree Cement crashed on Friday amid reports that the Income Tax (I-T) Department has firmed up a Rs 4,000 crore tax demand against the company.
Mumbai: The shares of Shree Cement crashed on Friday amid reports that the Income Tax (I-T) Department has firmed up a Rs 4,000 crore tax demand against the company.
The company's shares were trading 4.36 per cent lower at Rs 27,099.9 per share on BSE at 2 p.m. on Friday.
I-T officials had carried out a survey of the company’s premises in June last year at which point also the company’s shares had plunged in the stock markets.
The tax demand is reported to be a sequel to the tax survey of the company’s premises in Rajasthan which allegedly found that some deductions had been wrongfully claimed on waste water management and power facilities by the company.
Shree Cement has termed the allegations speculative and devoid of merit.
The company had this week announced a revamp of its corporate brand identity with ‘Bangur’ as the umbrella brand aimed at making a stronger connect with customers the company’s stepped up marketing campaign.
