Announced Tue, 14 Jul · 09:35 IST
Titan receives Income Tax penalty orders for AY 2017-18 and AY 2019-20
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TITAN · price
▲ 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
-0.2%1-day move
₹4596.40
prior close
₹4587.20
base price
In-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
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AI summary
Titan Company has received penalty orders from the Income Tax Department under section 270A of the Income Tax Act for assessment years 2017-18 (INR 56.67 Lakhs) and 2019-20 (INR 370 Lakhs). The penalties relate to adjustments on alleged under-reporting of income. The company states there is no material impact on financials, operations, or other activities and is in the process of filing an appeal.
Likely market impact
Minor tax penalties of about INR 4.27 crores combined; company filing appeal. No material impact on financials stated by management.