Colgate Palmolive shares in news today on Rs 170-crore transfer pricing order
Shares of Colgate-Palmolive (India) opened higher at Rs 2031 against the previous close of Rs 2054 on BSE. Market cap of the firm rose to Rs 56,662 crore.
- Oct 31, 2023,
- Updated Oct 31, 2023 10:11 AM IST
Shares of Colgate-Palmolive (India) Ltd are in news today after the consumer products company said it received a transfer pricing order worth Rs 170 crore from the Income Tax (I-T) Department for the assessment year 2021-22.
Shares of Colgate-Palmolive (India) opened higher at Rs 2031 against the previous close of Rs 2054 on BSE. Market cap of the firm rose to Rs 56,662 crore.
A total of 0.76 lakh shares of the firm changed hands amounting to a turnover of Rs 15.11 crore on BSE. The market cap of Colgate-Palmolive rose to Rs 54,754 crore. The stock fell to a 52-week low of Rs 1434.60 on January 30, 2023.
The stock has gained 36.38% since the beginning of this year and has risen 27.38% in a year. The stock has a beta of 0.3, indicating very low volatility in a year.
In terms of technicals, the relative strength index (RSI) of Colgate-Palmolive stands at 52.5, signaling it's trading in the neither in the overbought nor in the oversold territory. The share is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The department has disallowed “certain” international transactions to the company, said the consumer products company in a communication to bourses.
“The Income Tax authority has issued the transfer pricing order making adjustments on Transfer Pricing issues. The company is awaiting completion of the draft assessment proceedings and post the same, an application will be made before the Dispute Resolution Panel,” Colgate-Palmolive (India) said.
“There is no impact on financial, operation or other activities of the company due to this transfer pricing order,” it said.
Colgate-Palmolive India logged a 22% rise in profit for the quarter ended September 2023. Net profit climbed to Rs 340 crore in Q2 against a net profit of Rs 278.02 crore in September 2022 quarter. Colgate-Palmolive India's total revenue stood at Rs 1462.38 crore in Q2, up 6.09% against Rs 1378.37 crore in the corresponding period of the preceding fiscal.
The board declared a first interim dividend of Rs 22 per equity share of face value of Re. 1/-each for the financial year 2023-24.
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Shares of Colgate-Palmolive (India) Ltd are in news today after the consumer products company said it received a transfer pricing order worth Rs 170 crore from the Income Tax (I-T) Department for the assessment year 2021-22.
Shares of Colgate-Palmolive (India) opened higher at Rs 2031 against the previous close of Rs 2054 on BSE. Market cap of the firm rose to Rs 56,662 crore.
A total of 0.76 lakh shares of the firm changed hands amounting to a turnover of Rs 15.11 crore on BSE. The market cap of Colgate-Palmolive rose to Rs 54,754 crore. The stock fell to a 52-week low of Rs 1434.60 on January 30, 2023.
The stock has gained 36.38% since the beginning of this year and has risen 27.38% in a year. The stock has a beta of 0.3, indicating very low volatility in a year.
In terms of technicals, the relative strength index (RSI) of Colgate-Palmolive stands at 52.5, signaling it's trading in the neither in the overbought nor in the oversold territory. The share is trading higher than the 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
The department has disallowed “certain” international transactions to the company, said the consumer products company in a communication to bourses.
“The Income Tax authority has issued the transfer pricing order making adjustments on Transfer Pricing issues. The company is awaiting completion of the draft assessment proceedings and post the same, an application will be made before the Dispute Resolution Panel,” Colgate-Palmolive (India) said.
“There is no impact on financial, operation or other activities of the company due to this transfer pricing order,” it said.
Colgate-Palmolive India logged a 22% rise in profit for the quarter ended September 2023. Net profit climbed to Rs 340 crore in Q2 against a net profit of Rs 278.02 crore in September 2022 quarter. Colgate-Palmolive India's total revenue stood at Rs 1462.38 crore in Q2, up 6.09% against Rs 1378.37 crore in the corresponding period of the preceding fiscal.
The board declared a first interim dividend of Rs 22 per equity share of face value of Re. 1/-each for the financial year 2023-24.
Also read: 2 reasons behind rally in midcap, smallcap shares & why investors are nervous now
Also read: Zerodha trading platform Kite sees technical issue; Nithin Kamath's co replies