Business Business: Shares of Suzlon Energy Limited will be in focus on Monday. The reason for this is the notification received by the company from the Income Tax Department. The Ahmedabad Income Tax Department has issued a notice of Rs 101 crore to the company.
In the information given to the stock exchange, the company said that this claim is related to late payment of employee PF / ESI dues in the financial year 2016-17. Suzlon Energy is preparing to appeal against the notice. The company hopes that the decision will be in its favor.
Suzlon Energy had earlier said that the Income Tax Department has waived tax of Rs 260.35 billion collected for the financial years 2015-16 and 2016-17. The department has taken this decision after the decision of the ITAT. Let’s say this penalty exceeded the company’s profit in the September quarter.
Suzlon Energy’s share prices fell more than 5 percent last month. The company’s shares fell 1.54 per cent to Rs 61.96 after BSE close on Friday.
During the last year, Suzlon Energy’s share prices have appreciated by over 63 per cent. The company’s 52-week high is Rs 86.04 and 52-week low is Rs 35.49. We would like to inform you that Suzlon Energy’s share prices have appreciated by over 450 per cent in two years. At the same time, the stock has managed to generate a return of over 2,300 per cent in 5 years.
