Announced Tue, 11 Aug · 18:37 IST
Court orders Manaksia Steels to deposit Rs 3.33 cr in Haldia land case
MANAKSTEEL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
+0.7%1-day move
₹84.71
prior close
₹88.94
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-2.9-4.4-3.4-3.3+0.7+1.5+1.1+2.7+1.5+0.3+29.0+32.2——
Up moveDown movePending
AI summary
Calcutta High Court ordered Manaksia Steels to deposit Rs 3.33 crores with Haldia Development Authority within 6 weeks. The 2008 case involves 35 acres of land where HDA sought enhanced premium of Rs 15 lakh/acre versus originally agreed Rs 5.50 lakh/acre. The land came to Manaksia Steels via a 2014 demerger from Manaksia Ltd. Company says no material impact on operations and may appeal.
Likely market impact
Rs 3.33 cr payable to HDA; company sees no material impact on operations and may appeal. Watch for further updates on appeal outcome.