H.G. Infra gets GST show-cause notice for about 94 crore rupees

Regulatory & Legal View source PDF Explain this filing

HGINFRA · price

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

-0.4%Reaction day

₹462.45

prior close

₹463.15

announcement price

After-mkt

timing

Nifty Microcap 250market+0.8%-1.2% vs market

Civil Construction peers, median of 100sector+1.0%-1.4% vs sector

On the reaction day the stock moved 1.2 pts less than Nifty Microcap 250 and 1.4 pts less 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

+1.7

10m

+1.7

15m

+1.4

30m

+1.4

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.4+0.8-1.2+1.0-1.4

Next day

-3.9+2.5-6.4+1.6-5.5

-4.5+2.3-6.8+1.7-6.2

-3.8+2.8-6.5+1.9-5.7

-2.1+4.1-6.2+2.5-4.6

-0.3+2.5-2.8+1.2-1.5

-3.4+1.2-4.6-0.9-2.5

15d

-13.3-0.8-12.5-2.3-11.0

-13.1-1.7-11.4-3.0-10.1

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 100Pending

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

AI summary

H.G. Infra Engineering received a Show Cause Notice from the Karnataka GST authority related to audit proceedings for FY 2022-23. The aggregate liability proposed is about 94 crore rupees. The notice cites issues with input tax credit claims and turnover reconciliation. The company states the observations are not sustainable on facts or in law and plans to file a detailed response. It does not foresee any material financial impact at this stage.

Likely market impact

Tax demand of 94 cr disputed by the company; expects favorable outcome. Watch for updates on adjudication proceedings.