Tax demand of about INR 2.37 crore from Tamil Nadu tax office

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

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₹4020.00

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used-0.2%+0.3% vs market

Pharmaceuticals peers, median of 156sector-0.2%+0.4% vs sector

On the reaction day the stock moved 0.3 pts more than Nifty Microcap 250 and 0.4 pts more than its Pharmaceuticals 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 · Pharmaceuticals peers, median of 156Pending

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AI summary

Sanofi India received a tax demand of about INR 2.37 crore from the Commercial Tax Officer in Tiruvallur, Tamil Nadu for FY 2021-22. This includes tax of about 1.34 crore, interest of about 89.3 lakh and penalty of about 13.4 lakh over disputed Input Tax Credit eligibility. The company plans to appeal before the Appellate Authorities.

Likely market impact

Small financial impact relative to company size; outcome pending since the matter will be appealed