GST demand of about Rs 1.18 crore for FY21, company to appeal

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AFCONS · price

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Price reactionminutes from the announcement price · days from the prior close

+0.3%Reaction day

₹241.80

prior close

₹242.04

announcement price

After-mkt

timing

Nifty Smallcap 250market+1.1%-0.8% vs market

Civil Construction peers, median of 96sector+0.4%-0.1% vs sector

On the reaction day the stock moved 0.8 pts less than Nifty Smallcap 250 and 0.1 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+0.3

10m

+0.0

15m

+0.3

30m

+0.0

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+0.3+1.1-0.8+0.4-0.1

Next day

+1.2+1.5-0.3+0.8+0.4

+0.5+1.5-1.0+1.3-0.8

+1.4+0.3+1.1+0.6+0.8

+1.4+0.4+1.0+0.8+0.6

+1.1-0.8+1.9-1.0+2.1

-1.8-4.1+2.3-5.3+3.5

15d

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UpDownMarket · Nifty Smallcap 250Sector · Civil Construction peers, median of 96Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Afcons Infrastructure received a GST demand order of about Rs 1.18 crore from the CGST authority in Ahmedabad North for FY 2020-21, alleging excess Input Tax Credit claimed. The demand includes tax of around Rs 59 lakh and an equal penalty amount, with interest yet to be quantified. The company disputes the order fully and will appeal before the appropriate authority. The filing states there is no financial impact on the company from this matter.

Likely market impact

Company disputes demand and plans to appeal; operations impact stated as nil, but outcome of appeal remains uncertain.