Carraro India wins Rs 7.99 crore tax relief for AY 2011-12

Court Stay ObtainedRegulatory & Legal View source PDF Explain this filing

CARRARO · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.4%Reaction day

₹512.00

prior close

₹516.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-2.7%+1.3% vs market

Auto Components & Equipments peers, median of 110sector-2.9%+1.6% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 1.6 pts more than its Auto Components & Equipments 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

-0.7

10m

-1.6

15m

-2.3

30m

-2.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.4-2.7+1.3-2.9+1.6

Next day

-7.8-3.5-4.3-3.0-4.8

-3.2-2.0-1.3-1.2-2.0

-5.7-4.1-1.7-4.0-1.8

-7.1-3.9-3.2-3.4-3.7

-3.5-2.0-1.5-2.1-1.4

+2.0-0.6+2.5-1.5+3.5

15d

+13.9+4.4+9.4+6.7+7.2

+2.9+1.3+1.6+2.9+0.0

-14.2-6.9-7.4-7.1-7.2

+12.6+4.6+8.0+1.8+10.8

UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 110Pending

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

AI summary

Carraro India received an Order Giving Effect from the Pune Income Tax office implementing the Bombay High Court ruling that allowed the company's writ petition for AY 2011-12. The company gets Rs 2.74 crore relief from tax demand plus Rs 5.26 crore refund paid under protest. Total benefit of about Rs 7.99 crore, which reduces contingent liabilities.

Likely market impact

Positive - Rs 7.99 crore tax relief and refund will boost earnings and cut contingent liabilities.