MAM
TV media scrips drop marginally; Sensex crosses 3,900 mark
MUMBAI: In a truncated week comprising only four trading sessions, the 30-share Bombay Stock Exchange (BSE) sensitive index surged 37.44 points or 0.9 per cent (as compared to 3,883.76 points last week) to settle at 3,921.20 points. The S&P CNX Nifty index gained 25.10 points or two per cent to settle at 1,247.75 (as compared to 1,222.65) registering a 29-month closing high.
The listed television industry scrips registered marginal drops but were fairly stable when compared to their last week levels.
On the BSE, Zee Telefilms Ltd, the only media company on the 30-scrip BSE sensex, opened the day (14 August) at Rs 119.60; fell by 1.59 per cent and closed at Rs 117.70 – as compared to Rs 115.20 on 9 August 2003. The volume of shares traded was around 882,060 shares.
On the NSE, the scrip opened at Rs 120.20; and closed at the previous day’s close of Rs 117.65 (as compared to Rs 115.40 on 9 August 2003). The Zee Telefilms counter registered a volume of around 1.99 million shares.
Balaji Telefilms opened the day (14 August) at Rs 72.35; dropped 0.48 per cent and was last traded at Rs 72 (as compared to Rs 75.35 on 9 August). The volume of shares traded on the BSE was around 80,330 shares.
On the NSE, the scrip opened at Rs 70.05; and ended the day at Rs 71.95 as compared to Rs 75.35 on 9 August 2003. The counter registered a volume of around 340,818 shares.
Television Eighteen India opened the day (14 August) at Rs 115.25; dropped 0.26 per cent and was last traded at Rs 114.95 as compared to Rs 113.80 on 9 August. The volume of shares traded on the BSE was around 196,765 shares.
According to the new restructuring that has announced, CNBC AP will hold a 10 per cent strategic stake in TV18’s unlisted channel broadcast subsidiary. TV18 now owns almost 90 per cent stake in CNBC-TV18, India’s premier business television service. The stake increase (from the earlier 49 per cent) will be virtually cash neutral for TV18.
On the NSE, the scrip opened at Rs 119.90; and closed at the previous day’s close of Rs 115.25 as compared to Rs 113.85 on 9 August 2003. The counter registered a volume of around 455,423 shares.
Sri Adhikari Brothers (SABTNL) opened the day (14 August) at Rs 67.70; dropped 0.96 per cent and ended at Rs 67.05 (as compared to Rs 68 on 9 August). The volume of shares traded on the BSE was around 24,919 shares. On the NSE, the scrip opened at Rs 68; and closed at Rs 66.65 as compared to Rs 67.75 on 9 August 2003. The counter registered a volume of around 40,573 shares.
Creative Eye opened the day (14 August) at Rs 15.07; dropped 1.86 per cent and was last traded at Rs 14.79 as compared to Rs 14.95 on 9 August. On the NSE, the scrip opened at Rs 14.95; and closed at Rs 14.60 as compared to Rs 14.70 on 9 August 2003.
Cinevistaas opened the day (14 August) at Rs 28.75; dropped 1.74 per cent and closed at Rs 28.25 as compared to Rs 29.25 on 9 August. On the NSE, the scrip opened at Rs 29; and closed at Rs 28.95 as compared to Rs 29.70 on 9 August 2003.
ETC Networks opened the day (14 August) at Rs 53.40; dropped 1.22 per cent and closed at Rs 52.75 as compared to Rs 29.25 on 9 August. The volume of shares traded was 27,766. On the NSE, the scrip opened at Rs 52.60; and closed at Rs 52. The volume of shares traded was 32,596.
Reports indicate that old economy stocks continue to be the focus of the market as a good monsoon, the strong export growth and a recovery in manufacturing have raised expectations of a rebound in GDP (Gross Domestic Product) growth this year. There is optimism that the BSE Sensex might cross the 4,000 mark.
Brands
Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
