GST proceedings for FY 2020-21 dropped, no financial impact

Regulatory & Legal View source PDF Explain this filing

HEGAM · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

-1.6%Reaction day

₹227.79

prior close

₹227.01

announcement price

After-mkt

timing

Nifty Smallcap 250market+0.1%-1.7% vs market

Electrodes & Refractories peers, median of 9sector+0.6%-2.3% vs sector

On the reaction day the stock moved 1.7 pts less than Nifty Smallcap 250 and 2.3 pts less than its Electrodes & Refractories 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

-0.8

10m

-0.7

15m

-0.5

30m

-0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.6+0.1-1.7+0.6-2.3

Next day

-4.0-1.1-2.9-1.2-2.7

-7.9-3.3-4.6-3.4-4.5

-10.0-4.4-5.7-4.9-5.2

-12.2-7.0-5.2-8.1-4.1

-10.0-6.0-4.1-5.3-4.7

+0.2-3.6+3.8-4.2+4.4

15d

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UpDownMarket · Nifty Smallcap 250Sector · Electrodes & Refractories peers, median of 9Pending

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

AI summary

HEG Advanced Materials informed that the GST authority has dropped proceedings against HEG Limited (Resulting Company under the Composite Scheme of Arrangement) under Section 74 of the MPGST and CGST Acts for FY 2020-21. A earlier show-cause notice from the Deputy Commissioner of State Tax, Mandideep, had proposed recovery of IGST refunds plus a penalty of about Rs 282.34 crore. The company states nil financial, operational, or other impact.

Likely market impact

Positive: a potential penalty of about Rs 282 crore has been dropped, though company reports nil financial impact.