As per the attached intimation
NBCC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 2.0 pts less than Nifty Smallcap 250 and 2.0 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
NBCC has received orders from the Office of the Principal Commissioner of CGST, Delhi South Commissionerate, demanding tax, penalty, and interest on two overseas projects executed by the company as Project Management Consultant (PMC). The total demand, including penalty for both works, is Rs. 79.95 crore along with applicable interest; one order alone comprises Rs. 8.22 crore tax + Rs. 82.17 lakh penalty + Rs. 5.52 crore interest. The issues raised relate to ITC apportionment under Rules 42 and 43 of the CGST Rules, and reversal of ITC claimed from cancelled dealers, return defaulters, and non-payers for FY 2021-22. The orders were received on December 26 and 31, 2025, with an initial disclosure made on January 20, 2026 and this fresh intimation filed on February 4, 2026. The company is preparing to appeal before the appropriate authority and has stated it does not anticipate any material impact on its financial, operational, or business activities.
The combined demand of about Rs. 80 crore plus interest is not trivial, but since the company plans to contest it and assesses no material business impact, immediate stock reaction is likely muted. Investors should track the appeal outcome, as an unfavorable ruling could pressure earnings and sentiment.