Max Financial Services gains on settling tax dispute under ‘Vivad Se Vishwas Scheme’

13 May 2020 Evaluate

Max Financial Services is currently trading at Rs. 455.10, up by 7.90 points or 1.77% from its previous closing of Rs. 447.20 on the BSE.

The scrip opened at Rs. 459.05 and has touched a high and low of Rs. 461.05 and Rs. 443.55 respectively. So far 18697 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 611.05 on 04-Mar-2020 and a 52 week low of Rs. 279.75 on 24-Mar-2020.

Last one week high and low of the scrip stood at Rs. 471.00 and Rs. 438.00 respectively. The current market cap of the company is Rs. 12225.20 crore.

The promoters holding in the company stood at 28.31%, while Institutions and Non-Institutions held 59.21% and 12.48% respectively.

Max Financial Services (MFSL) has settled a long pending income tax case under the dispute resolution scheme Direct Tax Vivad Se Vishwas, 2020, recently launched by the Indian Government. MFS has paid Rs 123.78 crore for settling the litigation involving capital gains from the stake sale of its erstwhile telecom joint venture Hutchison Max Telecom.

MFSL is the first large private sector player in India to have settled and paid under the Vivad Se Vishwas Scheme. The settlement was finalized with the Pr.CIT-1, Jalandhar earlier this month and due taxes have been remitted. The payment also clears a tax dues contingent liability that has been reported on the company's books for the past two decades.

Max Financial Services, a part of the Max Group, is the holding company for Max Life, India’s largest non-bank, private life insurance company.

Max Financial Share Price

1285.10 33.00 (2.64%)
31-Oct-2024 16:01 View Price Chart
Peers
Company Name CMP
Max Financial 1285.10
Delphi World Money 285.25
Anand Rathi Wealth 4130.00
Prudent Corporate 3117.65
Nuvama Wealth 6986.00
View more..
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.