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An announcement from Syngene International Ltd. ( (IN:SYNGENE) ) is now available.
Syngene International has received a favourable order from the High Court of Karnataka in a long-running tax matter concerning assessment years 2010-11, 2011-12 and 2012-13. The court allowed the company’s writ petition challenging the adjustment of income tax refunds for 2010-11 and 2011-12 against outstanding demands for other years and the non-issue of a refund for 2012-13, together aggregating to about Rs 48.9 crore, and directed the tax authorities to refund the amount with interest, subject to verification. Syngene said it does not expect a material impact on its financials, operations or activities from the order and is analysing the judgment to determine its next steps, with no penalties or compliance aberrations noted by the court.
More about Syngene International Ltd.
Syngene International Limited, based in Bengaluru, is a contract research and manufacturing services company operating in the biopharmaceutical and life-sciences sector. It provides integrated discovery, development and manufacturing services to global pharmaceutical, biotechnology and other research-driven organizations, with a focus on supporting R&D and related activities from its facilities in India.
Average Trading Volume: 64,078
Technical Sentiment Signal: Hold
Current Market Cap: 263.6B INR
For an in-depth examination of SYNGENE stock, go to TipRanks’ Overview page.