The New India Assurance Company Limited has informed the Exchange about Disclosure under Reg 30 of SEBI LODR

NIACL · price

Loading chart…

▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Price reaction · full curve 14 horizons · vs prior close

-2.2%1-day move

₹124.60

prior close

₹125.10

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

+1.6+2.1+2.6+2.7-2.2-5.6-0.6-0.9-0.6+5.7+31.1+32.8+33.4+47.8

Up moveDown movePending

AI summary

The New India Assurance Company has received an income tax assessment order for Assessment Year 2023-24 from the National Faceless e-Assessment Centre under Section 143(3) of the Income Tax Act, 1961. The order involves disallowance of certain expenses amounting to approximately Rs. 189.37 crore (Rs. 1,89,37,08,470). The company has stated it will contest this order by filing an appeal before the National Faceless Appeal Centre (NFAC) or pursuing other legal remedies. Until resolved, this amount will be shown as a contingent liability in the company's financial statements.

Likely market impact

While this is a sizeable tax demand, the company plans to appeal and the amount will only be treated as a contingent liability for now. If the appeal fails, it could impact future earnings, but no immediate hit to the books is expected.