Nestle India receives customs order demanding about Rs 12 crore from Mundra Port

Regulatory & Legal View source PDF Explain this filing

NESTLEIND · price

Loading chart…

▲ 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

-0.5%Reaction day

₹1457.00

prior close

₹1451.50

announcement price

After-mkt

timing

Nifty 100market-0.4%-0.1% vs market

Packaged Foods peers, median of 35sector-0.7%+0.2% vs sector

On the reaction day the stock moved 0.1 pts less than Nifty 100 and 0.2 pts more than its Packaged Foods 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

+0.7

10m

+0.4

15m

-0.0

30m

-0.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.5-0.4-0.1-0.7+0.2

Next day

-0.7-0.2-0.5+0.0-0.7

+2.7-0.6+3.3-1.0+3.7

-1.4-0.9-0.5-1.0-0.4

-2.4-1.4-1.0-0.3-2.1

-2.8-1.5-1.3-0.9-1.9

-3.9-1.9-2.0-0.7-3.2

15d

-6.3-3.5-2.8-4.6-1.7

-7.6-5.8-1.8-4.1-3.6

-19.0-6.7-12.3-12.9-6.1

—————

UpDownMarket · Nifty 100Sector · Packaged Foods peers, median of 35Pending

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

AI summary

Nestle India received an adjudication order from the Principal Commissioner of Customs, Mundra Port under Section 28(8) of the Customs Act, 1962. The order demands customs duty of Rs 11.10 crore along with applicable interest, a redemption fine of Rs 25 lakh, and a penalty of Rs 50 lakh. The company states there is no material impact on its financials, operations, or other activities and will explore legal options to challenge the order.

Likely market impact

Company says no material financial impact. Will challenge the order. Total demand is small relative to Nestle India's overall size.