CESTAT sets aside Rs 15.24 crore customs duty demand against company

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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

+1.9%Reaction day

₹23.24

prior close

₹23.35

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.0%+1.8% vs market

Food Products peers, median of 88sector · industry level+0.2%+1.7% vs sector

On the reaction day the stock moved 1.8 pts more than Nifty Microcap 250 and 1.7 pts more than its Food 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

-0.3

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

+1.9+0.0+1.8+0.2+1.7

Next day

+3.2-0.0+3.2+0.8+2.4

+2.7-0.2+2.9+0.1+2.6

+4.5+0.2+4.3-0.1+4.6

+12.7+0.3+12.4+0.0+12.7

+14.2+0.4+13.8+0.6+13.7

+16.4+0.9+15.4-0.6+17.0

15d

+7.8+1.6+6.2+1.9+5.9

+37.7+2.0+35.7+1.3+36.4

+17.0+0.6+16.4-2.2+19.2

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UpDownMarket · Nifty Microcap 250Sector · Food Products peers, median of 88Pending

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AI summary

CESTAT Bangalore allowed the company's appeal and set aside the entire customs duty demand of Rs 15,24,30,536 along with interest, redemption fine and penalties related to alleged undervaluation of imported fish meal during 2014-2015. The company may also be entitled to a refund of Rs 75 lakh already appropriated. The department may appeal further.

Likely market impact

Positive: Rs 15.24 crore demand quashed, potential Rs 75 lakh refund, but department may still appeal in higher court.