NDTV gets Rs 443.28 crore income tax demand for AY 2008-09; to appeal

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Price reactionminutes from the announcement price · days from the prior close

-1.8%Reaction day

₹82.25

prior close

₹80.95

announcement price

After-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-1.3%-0.5% vs market

TV Broadcasting & Software Production peers, median of 16sector-0.5%-1.3% vs sector

On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 1.3 pts less than its TV Broadcasting & Software Production peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · TV Broadcasting & Software Production peers, median of 16Pending

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AI summary

Income Tax department has issued a notice of demand of Rs 443.28 crore on NDTV for Assessment Year 2008-09, following an order under Section 143(3) read with Section 144C(3). This comes after the Supreme Court dismissed NDTV's earlier Special Leave Petition against a Delhi High Court ruling in the same reassessment matter. NDTV plans to appeal before the Commissioner of Income Tax (Appeals) and apply for a stay on the demand. The company says it has strong merits and will pursue all legal remedies.

Likely market impact

Rs 443.28 crore demand is very large relative to NDTV size; outcome of appeal and stay application is critical for shareholders.