Court quashes Rs 2,791 million tax demand against Apollo Tyres

Court stay obtainedRegulatory & Legal View source PDF Explain this filing

APOLLOTYRE · price

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

-1.1%Reaction day

₹524.00

prior close

₹524.05

announcement price

After-mkt

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Nifty Midcap 150market · index membership as recorded later (tracked since Jun 2026)-1.7%+0.6% vs market

Tyres & Rubber Products peers, median of 15sector-1.7%+0.5% vs sector

On the reaction day the stock moved 0.6 pts more than Nifty Midcap 150 and 0.5 pts more than its Tyres & Rubber Products 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

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Reaction day

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Next day

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UpDownMarket · Nifty Midcap 150Sector · Tyres & Rubber Products peers, median of 15Pending

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

AI summary

The Madras High Court has quashed CGST proceedings under Section 74 against Apollo Tyres, setting aside the entire demand of Rs 2,791 million in a composite supply matter. This follows an earlier intimation from August 2023 about the pending litigation. No penalty or settlement payment is involved.

Likely market impact

Positive - removes a Rs 2,791 million tax liability overhang from the company's books. Likely to boost investor sentiment.