Wonderla Holidays Ltd's Chennai project gets waiver of 10% Local Body Tax for 10 years from Tamil Nadu Government

Wonderla Holidays Limited has announced that the Government of Tamil Nadu has granted waiver of Local Body Tax (LBT) of 10% for a period of 10 years from the commencement of commercial operations, after persistent efforts by the Company.

The Government of Tamil Nadu vide Government Order (Ms) No. 71 dated 02.06.2023, has made amendment to the Municipal Administration and Water Supply Department Notification No.II(2)/MAWS/828(d)/2019 dated 22nd October 2019. As per the amendment, the Company has been granted LBT waiver for a period of 10 years from the date of commencement of commercial operation subject to the condition that the commercial operation shall be commenced within a period of 2 years from 2nd June 2023, which is very positive for the business of the Company. With this, the Company expects to commence the operations of the Chennai project at the earliest.

Shares of Wonderla Holidays Limited was last trading in BSE at Rs. 520.95 as compared to the previous close of Rs. 516.25. The total number of shares traded during the day was 20487 in over 1475 trades.

The stock hit an intraday high of Rs. 523.80 and intraday low of 510.05. The net turnover during the day was Rs. 10583649.00.

Source : Equity Bulls

Keywords

WonderlaHolidays INE066O01014 LocalBodyTax Waiver TamilNaduGovernment ChennaiProject