Mangal Electrical Industries Limited has informed the Exchange about Action(s) initiated or orders passed

MEIL · price

Loading chart…

▲ 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

+8.4%1-day move

₹290.50

prior close

₹292.43

base price

After-mkt

timing

5m10m15m30m1D2D3D4D5D7D15D1M2M3M

-1.0-0.5-1.4-1.5+8.4+10.1+7.2+4.6+1.5+3.2+16.9+3.6+8.1+3.1

Up moveDown movePending

AI summary

Mangal Electrical Industries Limited received an order from the Office of the Appellate Authority (Government of Rajasthan) State Tax, Jaipur in appeal No. 115/AA-I/GST/2023-24. The order relates to an alleged excess availment of Input Tax Credit and discrepancies in GST returns for FY 2017-18. The total demand amounts to approximately ₹55.73 lakhs, including tax, interest, and penalty. The company disputes the order and plans to file an appeal with the Appellate Tribunal, citing advice from legal counsel and the prevailing law.

Likely market impact

A GST tax demand of ₹55.73 lakhs could impact the company's finances if upheld. However, since the company intends to appeal and the amount is not material relative to most listed entities' financials, the stock impact is likely minimal unless the appeal fails.