Subsidiary loses GST writ petition in Rajasthan High Court

Litigation LossRegulatory & Legal View source PDF Explain this filing

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

+2.1%Reaction day

₹867.00

prior close

₹866.75

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.6%+2.7% vs market

Civil Construction peers, median of 96sector-0.8%+2.9% vs sector

On the reaction day the stock moved 2.7 pts more than Nifty Microcap 250 and 2.9 pts more than its Civil Construction 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

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Sessions after the filingfrom the prior close

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Reaction day

+2.1-0.6+2.7-0.8+2.9

Next day

+2.0-0.1+2.0-0.7+2.7

+0.9+0.2+0.7-0.5+1.4

+1.1+0.4+0.6-0.8+1.9

+4.2+0.0+4.2-1.2+5.4

+4.4+0.6+3.8-0.3+4.7

+2.2+0.7+1.6-1.7+3.9

15d

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-5.4+0.2-5.6-4.4-1.0

-10.0-3.7-6.3-8.8-1.2

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 96Pending

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AI summary

Subsidiary Nagaur Mukundgarh Highways Private Limited filed writ petitions before the Rajasthan High Court challenging GST levy on annuity payments under a CBIC circular dated June 2021. The High Court dismissed the petitions on August 17, 2026. The aggregate amount involved is about Rs 69.79 crore. The company is evaluating further legal remedies with its legal advisors.

Likely market impact

Rs 69.79 crore financial exposure for subsidiary; negative impact if further remedies fail