Tips to save IPO listing gains tax!
In the years 2023 and 2024, many IPOs brought huge earnings for the investors. But tax also has to be paid on this! What is the tax rule on booking listing gains from IPO? How can tax liability on listing gains be reduced? How will the tax be calculated on selling IPO shares?
Here is the list of top stocks that could be in focus on May 6.
Infosys: Infosys has joined forces with Deakin to develop a strategic action plan for research, innovation and skill development. The organisations will work together, combining their strengths in emerging technologies and design to innovate at scale.
Wipro: The IT firm has entered into a partnership with Transcell Oncologics to transform vaccine safety assessment using artificial intelligence. This alliance combines Transcell’s innovative stem cell technology with the advanced artificial intelligence capabilities of Wipro HOLMES, enabling customers to improve the safety of global vaccine immunization programs.
AF Enterprises: The company has been emerged as L1 bidder and has received a work order amounting around Rs 200 crore from Uttar Pradesh Medical Supplies Corporation (UPMSCL). The order is for the manufacturing of a personal eye protector goggle.
Kalyan Jewellers: The company has extended the gold ownership certificate initiative. This was launched last year, during the lockdown, and with the lockdown imposed again, the brand has reinitiated the facility, based on customer request.
Jindal Drilling: Jindal Drilling & Industries has received a Letter of Award (LoA) from Oil and Natural Gas Corporation (ONGC) for charter hire of Offshore Drilling Rig Jindal Explorer for the contract period of 3 years.
Ceat: The tyre major has reported results for the fourth quarter ended March 31, 2021. The company has reported an above 2-fold jump in its net profit at Rs 141.84 crore for the quarter under review as compared to Rs 50.12 crore for the same quarter in the previous year. The total income of the company increased by 45.51% at Rs 2282.15 crore for Q4FY21 as compared to Rs 1568.37 crore for the corresponding quarter the previous year. On a consolidated basis, the company has reported an above 2-fold jump in its net profit attributable to owners at Rs 152.80 crore for the quarter under review as compared to Rs 51.88 crore for the same quarter in the previous year. The total income of the company increased by 45.40% at Rs 2292.89 crore for Q4FY21 as compared to Rs 1576.92 crore for the corresponding quarter the previous year.
InterGlobe Aviation (IndiGo): The aviation major has airlifted 2,717 oxygen concentrators from Thailand, China, Qatar, Hong Kong and Singapore to India amid the Covid-19 pandemic’s second wave in the country. In total, the airline has transported 4,142 oxygen concentrators — weighing about 72,461 kg — within India or from outside India. A massive load of other medical supplies has also been flown in on IndiGo flights to support the country.
Tata Steel: Tata Steel on Wednesday posted a consolidated net profit of Rs 7,161.91 crore for the quarter ended March 2021, mainly on account of higher income. The company had reported a net loss of Rs 1,615.35 crore in the year-ago quarter, Tata Steel said in a BSE filing.