CG Power gets updated stay on Rs 468 crore income tax demand pending ITAT appeal

Court stay obtainedRegulatory & Legal View source PDF Explain this filing

CGPOWER · 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

-0.8%Reaction day

₹590.20

prior close

₹590.00

announcement price

After-mkt

timing

Nifty 100market · index membership as recorded later (tracked since Jun 2026)-0.5%-0.3% vs market

Heavy Electrical Equipment peers, median of 30sector+1.2%-1.9% vs sector

On the reaction day the stock moved 0.3 pts less than Nifty 100 and 1.9 pts less than its Heavy Electrical Equipment 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

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15m

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30m

-0.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.8-0.5-0.3+1.2-1.9

Next day

+3.0-1.4+4.4+0.5+2.5

+11.8+1.1+10.7+5.1+6.7

+13.1+1.4+11.8+6.3+6.9

+13.4+0.9+12.5+5.5+7.8

+14.2+1.1+13.1+5.9+8.3

+15.2+2.0+13.2+9.4+5.9

15d

+20.6+0.8+19.8+5.9+14.6

+20.8-1.8+22.6+4.4+16.4

+10.8-12.1+22.9-6.8+17.6

+37.9-4.3+42.2+30.0+7.9

UpDownMarket · Nifty 100Sector · Heavy Electrical Equipment peers, median of 30Pending

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

AI summary

Income Tax department raised Rs 467.76 crore tax demand on CG Power for AY 2021-22 in July 2025. Company appealed to ITAT Mumbai and obtained a stay on demand subject to 20 percent payment. After tax refund adjustment of Rs 23.42 crore, additional Rs 28.13 crore payment is required in 3 installments. Stay remains valid till ITAT hears the appeal.

Likely market impact

Positive: Stay on Rs 468 crore tax demand extended; firm to pay extra Rs 28 crore in 3 installments while ITAT appeal continues.