Update regarding drop of proceedings under section 73(6) of GST Act, by the Assistant Commissioner, Bengaluru, Karnataka.

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

+1.4%Reaction day

₹125.95

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Nifty Microcap 250market · in no size index; the smallest one is used+1.0%+0.4% vs market

Tyres & Rubber Products peers, median of 15sector+1.8%-0.4% vs sector

On the reaction day the stock moved 0.4 pts more than Nifty Microcap 250 and 0.4 pts less than its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

+1.4+1.0+0.4+1.8-0.4

Next day

-0.8-2.6+1.8+0.7-1.5

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+9.5+15.2-5.8+17.2-7.7

UpDownMarket · Nifty Microcap 250Sector · Tyres & Rubber Products peers, median of 15Pending

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AI summary

Indag Rubber Limited has received an order dated April 02, 2025, from the Assistant Commissioner of Commercial Taxes, Bengaluru, Karnataka, dropping the proceedings initiated under Section 73 of the GST Act, 2017 for the financial year 2020-21. This follows the company's reply to the earlier show cause notice dated November 15, 2024. As a result, the company is no longer required to pay any GST or interest amount that was under dispute. The company has confirmed there will be no impact on its financial position, operations, or other activities.

Likely market impact

Positive for shareholders — the tax uncertainty has been resolved in the company's favour with no additional financial liability, removing an overhang on the stock.