Dear Readers / Visitors / Reliance fans,
In our last update about Reliance industries on 4 December 2008, we have asked to enter the stock once it closes above 1145 lvls. Last week it has managed to close above 1145 & non stop rally was seen upto 1300 - 1325 lvls.
Today also it has crossed levels of 1350 & heading towards congestion levels of 1350 - 1400. This is the area where profit booking can come.
Source : CNBC TV 18: Also today Adavce tax nos were out & Reliance industries has given advance tax numbers at Rs 440 crore versus Rs 1045 crore (YoY). Now these two numbers are not comparable primarily because the Rs 1045 crore last year in Q3 included Rs 499 crore of tax given as Minimum Alternate Tax (MAT) paid on their RPL stake sale last year. RIL had paid Rs 536 crore in MAT for RPL stake sale last year. It also included Rs 200 crore as tax deducted at source on behalf of the suppliers.
Taking all this into account, RIL has paid almost the same advance tax as last year. CNBC-TV18 sources have given this clarification; the fact that there is no sharp decline in numbers.
Other Tax nos :
The State Bank of India’s Q3 advance tax stands at Rs 1,700 crore versus Rs 1,088 crore (YoY), reports CNBC-TV18, quoting sources. HDFC’s advance tax is at Rs 279 crore versus Rs 215 crore (YoY). ICICI Bank’s Q3 advance tax is at Rs 470 crore versus Rs 500 crore (YoY).
CNBC-TV18 Disclaimer:
This information has not been provided to the stock exchanges, and is source-based.
Regards,
Allies Financial Services
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