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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.7 pts more than Nifty Microcap 250 and 3.2 pts more than its Logistics Solution Provider peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Flomic Global Logistics has received a demand notice of Rs. 10.62 crore (Rs. 10,61,81,024) from the Income Tax Department for Assessment Year 2020-21. The demand was raised by the Assessment Unit under Section 156 of the Income-Tax Act. The company has stated it believes the demand is unwarranted and without merit, and will be filing an appeal against the order. The company is initiating appropriate legal remedies to contest the assessment.
An income tax demand of ~Rs. 10.62 crore is material for a small-cap logistics company and could pressure short-term cash flows if the amount needs to be paid before appeal resolution. However, since the company plans to contest it, the final financial impact remains uncertain and contingent on the appeal outcome.