GST demand of about 59 lakh for January 2021 interest, company plans to contest

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

-1.9%Reaction day

₹19.98

prior close

₹20.39

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.8%-2.8% vs market

Iron & Steel Products peers, median of 103sector+0.0%-1.9% vs sector

On the reaction day the stock moved 2.8 pts less than Nifty Microcap 250 and 1.9 pts less than its Iron & Steel Products 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

-2.0

10m

+0.2

15m

-1.9

30m

-1.9

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.9+0.8-2.8+0.0-1.9

Next day

-1.4+1.0-2.4+0.3-1.7

-0.2+1.7-1.9+0.9-1.0

+1.1+0.1+1.0+0.2+0.9

-0.2+0.8-0.9+0.2-0.4

-4.9-0.9-4.0-0.5-4.4

-5.0-4.5-0.5-4.4-0.6

15d

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UpDownMarket · Nifty Microcap 250Sector · Iron & Steel Products peers, median of 103Pending

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

AI summary

Rathi Steel and Power has received a GST demand order of about 59.45 lakh rupees from the Additional Commissioner of GST and Central Excise in Rourkela, Odisha, under Section 74 of the CGST Act, 2017. The demand relates to interest on delayed GST payments for January 2021. The company says no material impact is foreseen on its finances or operations, and it believes the demand is not maintainable and will explore legal remedies to contest it.

Likely market impact

Modest demand size versus company scale, but ongoing tax matters can weigh on sentiment; stock may see mild pressure until resolved.