Announced Wed, 24 Jun · 16:48 IST
Subsidiary JGL gets tax relief; adjustments cut from Rs 107.89 cr to Rs 42.41 cr
Regulatory & Legal View source PDF
JUBLPHARMA · price
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Price reaction · full curve 14 horizons · vs prior close
-1.9%1-day move
₹973.90
prior close
₹982.50
base price
After-mkt
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-0.9-0.8-0.9-1.0-1.9+0.2+0.4-0.2-0.4+0.8+4.9-0.0——
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AI summary
Jubilant Pharmova's step-down subsidiary Jubilant Generics received an Income Tax Rectification Order for AY 2023-24, reducing total tax adjustments from Rs 107.89 cr to Rs 42.41 cr. JGL also got relief from the Transfer Pricing Officer, restoring tax losses of Rs 65.48 cr. Appeal on merit grounds continues separately before CIT(A).
Likely market impact
Positive for the group; tax adjustments for subsidiary cut by about Rs 65 cr and tax losses of Rs 65.48 cr restored, easing financial burden.