Shares of Lanco Infratech are likely to see frenzied buying on Friday, as the company is said to get back ₹175 crore as income tax reimbursement.
The Supreme Court has allowed the claim of Lanco Infratech for reimbursement of ₹175 crore income tax paid for its subsidiary firm Lanco Kondapalli Power for the financial years 2001 to 2012. The amount could significantly buoy the fortunes of the debt-laden infrastructure major.