GST proceedings worth around 8.4 crore dropped against the company

Regulatory & Legal View source PDF Explain this filing

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

+1.6%Reaction day

₹202.25

prior close

₹201.65

announcement price

After-mkt

timing

Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)+1.4%+0.2% vs market

Other Utilities peers, median of 12sector · industry level+0.3%+1.3% vs sector

On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 1.3 pts more than its Other Utilities 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

+3.7

10m

+2.6

15m

+2.6

30m

+2.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+1.6+1.4+0.2+0.3+1.3

Next day

+2.5+1.4+1.1-0.3+2.8

+1.8+0.9+0.9-0.7+2.6

+2.3+0.3+2.0-0.2+2.6

+0.5-0.4+1.0-2.4+3.0

+0.4-0.5+0.9-3.3+3.7

+0.7+1.1-0.4-1.4+2.1

15d

-6.3-2.5-3.8-9.2+3.0

-11.7-6.1-5.6-15.2+3.4

-19.2-2.8-16.4-10.4-8.9

-29.9-14.9-14.9-23.4-6.4

UpDownMarket · Nifty Microcap 250Sector · Other Utilities peers, median of 12Pending

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

AI summary

The GST Department, Gujarat had earlier issued a show cause notice alleging GST discrepancies of 5.07 crore across tax periods 2018-19 to 2023-24, with penalty and interest of 3.33 crore under Section 74(5) of the CGST/SGST Act. The company filed a detailed reply with clarifications and documents. On 18 December 2025, the Department dropped all proceedings against the company. No demand, penalty, or interest is now payable and the matter stands fully concluded.

Likely market impact

Positive — a potential tax liability of around 8.4 crore is cleared, removing a key overhang for shareholders.