The realty index was hit equally badly as interest rates began to rise. I am not clear. This is a time for consolidation, I do not expect a runaway bull market at any point in time. I would rather be cautious than being very aggressive in this market, let me put it this way. If they are put in two brackets — one is the mid income and above mid income which is where Mahindra Holidays, Thomas Cook fall into and then the luxury end of the segment which includes India Hotels, Chalet Hotels, Taj Hotels and the Marriotts of the world.
In the first batch, it bought over 28 lakh shares, while the second lot was of about 27 lakh shares. The average price for the deal was at Rs The stock ended Friday with a fall of close to 7 per cent at Rs Pending application s , if any, also stand disposed of," the apex court bench comprising Justices U U Lalit and Vineet Saran ruled. Shares of Vodafone Idea closed about 2.
The apex court's order is part of a larger tax dispute between the telco and the Income Tax department amounting to Rs 4, crore and may help the operator to meet its working capital or capex needs, even as it needs to repay around Rs 50, crore of AGR dues, say experts. This is the second such refund that the telco will get and it comes at a time when the telco has told SC in the AGR case that it faces a severe cash crunch with its net worth totally eroded.
The genesis of this battle can be traced to when the telco sought a refund of Rs 4, crore for assessment years AY to The IT department had withheld the amount, claiming that outstanding dues were yet to be settled by the telco. The top court mentioned that the department cannot withhold refunds against undetermined future demands.
The telco has been involved in various tax-related disputes with the I-T department, including the Rs 20,crore withholding tax dispute related to its Hutchison stake buy in , which is currently under international arbitration.
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There are few pockets, like some public sector banks, which are showing relative strength against the broader markets.
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