Subsidiary RSSL GST demand cut to Rs.1.09 lakh from Rs.20.21 crore

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RANEHOLDIN · price

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

-0.9%Reaction day

₹1539.00

prior close

₹1534.50

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.3%-0.6% vs market

Holding Company peers, median of 13sector-0.2%-0.7% vs sector

On the reaction day the stock moved 0.6 pts less than Nifty Microcap 250 and 0.7 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

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15m

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Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-0.9-0.3-0.6-0.2-0.7

Next day

+2.3+0.7+1.6+1.0+1.3

+1.4+0.6+0.8+1.9-0.5

-3.8+0.5-4.3+1.5-5.3

-2.5+1.1-3.6+1.0-3.6

-3.8+0.3-4.1+0.0-3.8

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15d

-9.0-2.2-6.8-1.0-8.1

-14.8-4.9-9.9-4.2-10.6

-13.9-7.5-6.4-6.4-7.5

-2.4-4.8+2.4-5.8+3.4

UpDownMarket · Nifty Microcap 250Sector · Holding Company peers, median of 13Pending

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

AI summary

Rane Holdings wholly owned subsidiary RSSL received a GST order from the Assistant Commissioner (ST), Chennai South. An earlier show cause notice for Rs.20.21 crores on Input Tax Credit differences in FY 2021-22 has been reduced to just Rs.1.09 lakhs after the authority accepted RSSL's submissions. The final amount is tax Rs.36,510, interest Rs.33,364 and penalty Rs.40,000. The company will pay within statutory timeline and does not intend to pursue the matter further.

Likely market impact

Highly favorable outcome for shareholders. Demand slashed from Rs.20.21 cr to Rs.1.09 lakh, about 99.95 percent reduction. Positive resolution.