Subsidiary RSSL gets Rs 10.07 Cr GST demand fully dropped

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RANEHOLDIN · price

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

-1.7%Reaction day

₹1513.30

prior close

₹1525.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-2.5% vs market

Holding Company peers, median of 15sector+0.8%-2.5% vs sector

On the reaction day the stock moved 2.5 pts less than Nifty Microcap 250 and 2.5 pts less than its Holding Company 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

-0.8

15m

-0.8

30m

-1.2

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.7+0.8-2.5+0.8-2.5

Next day

-1.8+1.0-2.8+2.3-4.1

-1.3+1.7-3.1+1.4-2.7

+1.4+0.1+1.4+1.8-0.3

+2.7+0.8+1.9+2.3+0.4

-1.7-0.9-0.7-0.0-1.6

-5.6-4.5-1.1-2.6-3.0

15d

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UpDownMarket · Nifty Microcap 250Sector · Holding Company peers, median of 15Pending

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

AI summary

Rane Holdings' wholly owned subsidiary Rane Steering Systems (RSSL) received an order from GST Authority Chennai dropping the entire demand of Rs 10.07 Crores including Rs 0.92 Crore penalty. The demand related to alleged ineligible Input Tax Credit claims under Section 17(5) of GST Act for FY 2022-23 and 2023-24. The authority accepted RSSL's reply with supporting documents. No financial impact on the listed company.

Likely market impact

Positive outcome for shareholders - Rs 10.07 Cr tax demand on subsidiary fully dropped with nil financial impact on the company.