Cosmo First files writ petition in Gujarat HC seeking Rs 58.34 Cr tax incentive refund

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COSMOFIRST · price

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

+3.2%Reaction day

₹593.00

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+1.6%+1.6% vs market

Packaging peers, median of 61sector+0.7%+2.5% vs sector

On the reaction day the stock moved 1.6 pts more than Nifty Microcap 250 and 2.5 pts more than its Packaging 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

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UpDownMarket · Nifty Microcap 250Sector · Packaging peers, median of 61Pending

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AI summary

Cosmo First has filed a writ petition in the Gujarat High Court against the State of Gujarat's Industries and Mines Department, challenging lower incentive received under the Gujarat Industrial Policy 2015. The company is claiming a refund of Rs 58.34 Crores in tax incentives up to March 2025, with an additional incentive accrual of Rs 33.53 Crores. The matter is at the initial filing stage.

Likely market impact

Positive if company wins — potential recovery of Rs 58.34 Cr incentive plus Rs 33.53 Cr additional. Outcome uncertain, case freshly filed.