Income tax penalty of Rs 34.24 lakh for AY 2017-18; company to appeal

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

+2.9%Reaction day

₹517.25

prior close

₹521.00

announcement price

After-mkt

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Nifty Microcap 250market+0.9%+2.1% vs market

Specialty Chemicals peers, median of 94sector+0.7%+2.2% vs sector

On the reaction day the stock moved 2.1 pts more than Nifty Microcap 250 and 2.2 pts more than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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Next day

+4.2+0.5+3.7+0.5+3.7

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15d

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UpDownMarket · Nifty Microcap 250Sector · Specialty Chemicals peers, median of 94Pending

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AI summary

Archean Chemical received an income tax penalty order of Rs 34.24 lakh under Section 270A for AY 2017-18, alleging under-reporting of income amounting to misreporting. The order came from the Deputy Commissioner of Income Tax, Central Circle, Chennai on June 30, 2026. The company plans to appeal before CIT (Appeals) and expects a favorable outcome, stating no material financial impact.

Likely market impact

Small penalty under appeal; management sees no material financial impact on operations or shareholders.