Navkar Corp gets GST order for FY20; demand largely dropped

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NAVKARCORP · price

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

-2.7%Reaction day

₹99.33

prior close

₹97.31

announcement price

In-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used-2.1%-0.6% vs market

Logistics Solution Provider peers, median of 46sector-0.6%-2.1% vs sector

On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 2.1 pts less than its Logistics Solution Provider 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

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Sessions after the filingfrom the prior close

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Reaction day

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Next day

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UpDownMarket · Nifty Microcap 250Sector · Logistics Solution Provider peers, median of 46Pending

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AI summary

Navkar Corporation received an order under Section 74 of the Gujarat GST Act, 2017 for FY 2019-20. The original demand was Rs 50.54 lakh covering tax, interest and penalty. The company paid Rs 8,628 during proceedings and the balance demand was dropped by the tax department. The company states there is no major impact on its financial, operational or other activities.

Likely market impact

No major financial impact as most of the original GST demand was dropped by the department; minimal effect on shareholders.