Update on West Bengal Entry Tax dispute resolved via settlement scheme

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RAMCOIND · price

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

+3.2%Reaction day

₹306.00

prior close

₹309.55

announcement price

In-mkt

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Nifty Microcap 250market · in no size index; the smallest one is used+1.8%+1.3% vs market

Other Construction Materials peers, median of 17sector-1.5%+4.6% vs sector

On the reaction day the stock moved 1.3 pts more than Nifty Microcap 250 and 4.6 pts more than its Other Construction Materials peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Other Construction Materials peers, median of 17Pending

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AI summary

Ramco Industries updated on its long-pending West Bengal Entry Tax dispute (pre-GST, from 2013). The company paid 75 percent of entry tax amounting to Rs 2.21 crore under the state Settlement of Dispute Scheme, getting a 25 percent waiver on principal (Rs 74 lakh) and full waiver of interest (Rs 729.23 lakh) and penalty. The litigation is now considered resolved.

Likely market impact

Positive for shareholders as a long-pending tax dispute ends with major savings on interest and penalty, though Rs 2.21 crore is paid out.