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Tax panel orders recovery in Hinduja Global-NxtDigital merger

after close1 source ↓written by the desknot a recommendation

a recovery
₹1,203 cr

The tax panel has ruled the merger between Hinduja Global Solutions and NxtDigital as tax avoidance, ordering a recovery of ₹1,203 cr. The merger lacked genuine commercial substance, leading to disallowed tax set-offs and potential penalties. This ruling highlights the government's strict enforcement of tax regulations, impacting corporate strategies.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 31 Oct 2025, 21:11 IST.

Sourcesnews.google.com

The market after the news

HGS closed −0.7% on the day of the news, from ₹517.10 to ₹513.35; Nifty +0.2% over the same session.

Bulletin at 21:11 IST on 31 Oct 2025. Every change is measured from ₹517.10, the last close before it, on 31 Oct. Nifty 50 is measured over the same sessions.

  • HGS close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
HGS closes around the bulletin against the close before the news, with Nifty 50 rebased to it460.43517.10573.77axis spans 25%before the news · 31 Oct517.10Nifty 50HGSbulletinD0+1+3+527 Oct7 Nov18 NovReference close ₹517.10. 16 sessions from 27 Oct to 18 Nov; the price axis spans 25 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before31 Oct₹517.10basebase
On the day3 Nov₹513.35▼ −0.7%▲ +0.2%−0.9 pp difference
+1 session4 Nov₹517.80▲ +0.1%▼ −0.5%+0.6 pp difference
+3 sessions7 Nov₹504.85▼ −2.4%▼ −0.9%−1.5 pp difference
+5 sessions11 Nov₹497.20▼ −3.9%▼ −0.1%−3.7 pp difference
Gap at the open, % · ₹
▼ −0.4%−1.91 on 3 Nov
Day's range, % · ₹
2.2%≈ 11 high to low
Volume on the day
0.99×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
—

Source NSE UDiFF bhavcopy · HGS on the desk →

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