Income tax penalty of Rs 9.35 crore deleted in appeals

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KNRCON · price

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

-1.6%Reaction day

₹121.96

prior close

₹120.49

announcement price

After-mkt

timing

Nifty Microcap 250market-1.5%-0.1% vs market

Civil Construction peers, median of 98sector-1.4%-0.1% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.1 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

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10m

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15m

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30m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.6-1.5-0.1-1.4-0.1

Next day

-1.9-1.2-0.7-1.4-0.6

-3.8-2.8-1.0-3.1-0.7

-1.9-1.8-0.2-3.3+1.4

-1.9-2.0+0.2-3.6+1.8

-6.9-3.3-3.6-4.3-2.7

-5.2-2.0-3.2-3.8-1.4

15d

-8.3-3.9-4.4-5.5-2.9

-19.8-10.7-9.1-11.4-8.4

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 98Pending

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

AI summary

KNR Constructions received an order from the Commissioner of Income Tax Appeals in Hyderabad deleting an income tax penalty of about Rs 9.35 crore for Assessment Year 2021-22. The company's appeal was allowed and the penalty order was set aside. The company has stated the financial and operational impact as nil.

Likely market impact

Positive - a tax penalty of about Rs 9.35 crore has been deleted in the company's favour, removing a potential liability.