MRF tax demand reduced from Rs 91.53 cr to Rs 36.19 cr

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MRF · price

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

-0.9%Reaction day

₹123250.00

prior close

₹123585.00

announcement price

After-mkt

timing

Nifty Midcap 150market-2.4%+1.5% vs market

Tyres & Rubber Products peers, median of 16sector-1.4%+0.4% vs sector

On the reaction day the stock moved 1.5 pts more than Nifty Midcap 150 and 0.4 pts more than its Tyres & Rubber Products 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

-0.6

10m

-0.6

15m

-0.6

30m

-0.7

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.9-2.4+1.5-1.4+0.4

Next day

-0.9-1.1+0.2-0.6-0.2

-0.5-1.0+0.5-0.4-0.1

-0.6-0.0-0.5-0.1-0.4

-0.7-0.1-0.6-0.1-0.6

-0.9-0.4-0.6-0.1-0.8

-1.0-1.6+0.5-0.3-0.7

15d

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UpDownMarket · Nifty Midcap 150Sector · Tyres & Rubber Products peers, median of 16Pending

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

AI summary

MRF Limited informed the exchange that the Deputy Commissioner State Tax, Pala, Kerala has passed a rectification order reducing the total CST demand for FY 2014-15 from Rs 91.53 crores to Rs 36.19 crores. The matter relates to export clearances and declaration forms under sales tax, originally disclosed in August 2023. The company is examining the order and will decide on challenging the remaining demand.

Likely market impact

Positive for MRF as tax demand cut by over 60 percent. Company may still challenge the residual amount.