Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from Sterlite Technologies Limited ( (IN:STLTECH) ).
Sterlite Technologies Limited has disclosed that it received a demand order of INR 36.83 crore from the Assessment Unit of the Income Tax Department for the financial year 2025-26, issued under various provisions of the Income-tax Act, 1961. The adjustments relate mainly to intra-group services received from overseas related parties, interest on loans and advances, corporate guarantees and recovery of SBLC fees, and interest on outstanding receivables, which the company characterizes as arising from differing interpretations of tax law rather than any violation. STL plans to challenge the demand by filing an appeal before the Income Tax Appellate Tribunal within the prescribed 60-day period and has stated that there is no immediate financial impact on its operations, signaling to investors and other stakeholders that it expects a reasonable chance of a favorable outcome given precedents in similar cases.
More about Sterlite Technologies Limited
Sterlite Technologies Limited (STL) is an India-based technology company operating in the communications and digital infrastructure space, providing optical networking solutions, system integration, and related technology services to telecom operators, enterprises, and governments. The company focuses on building high-capacity networks and digital infrastructure, positioning itself as a key player in the broadband and data-centric connectivity markets.
Average Trading Volume: 97,659
Technical Sentiment Signal: Hold
Current Market Cap: 49.83B INR
Learn more about STLTECH stock on TipRanks’ Stock Analysis page.