Anil Dhirubhai Ambani Group (ADAG) stocks are in focus today. Shares of Reliance Communication fell around 1.5 percent in intraday trade on Tuesday as CNBC-TV18 reports quoting sources that telecom company and its subsidiaries have come under service tax scanner.
Reliance Telecom, a subsidiary of Reliance Communications has been slapped a tax order to the tune of Rs 200 crore for the years 2006-2011. Reliance Telecom operates in Gujarat, Madhya Pradesh, West Bengal, Himachal Prasdes, Odisha, Bihar, Assam and the north east of India.
Another order of Rs 13 crore has been issued to Reliance Communication Infra. Notices raising tax demand of Rs 90 crore has been issued to Reliance Tele Infra for period of 2007-2011.
Meanwhile, Reliance Media jumped 10 percent intraday as it is looking for a go-ahead for its Rs 500 crore qualified institutional placement (QIP) issue at its annual general meeting on December 24.
At 10:50 hrs Reliance Communications was quoting at Rs 141.00, down Rs 1.30, or 0.91 percent while Reliance MediaWorks was at Rs 51.35, up Rs 2.55, or 5.23 percent on the BSE.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
