Tax show cause notice received by merged entity Gujarat Siddhee Cement

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SAURASHCEM · price

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

+4.1%Reaction day

₹56.71

prior close

₹57.00

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.6%+3.5% vs market

Cement & Cement Products peers, median of 37sector+1.6%+2.6% vs sector

On the reaction day the stock moved 3.5 pts more than Nifty Microcap 250 and 2.6 pts more than its Cement & Cement 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

+0.4

10m

+0.6

15m

+0.9

30m

+1.1

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+4.1+0.6+3.5+1.6+2.6

Next day

+0.6+0.4+0.3+0.1+0.5

-0.3+0.7-1.0+0.0-0.4

-2.1+1.0-3.1-0.9-1.2

-2.1-0.0-2.1-1.4-0.7

-1.8-0.6-1.2-2.0+0.2

+1.2+0.7+0.5-0.9+2.0

15d

-9.2-1.2-7.9-5.5-3.6

-6.1-0.9-5.2-5.4-0.7

-17.0-9.0-8.0-12.8-4.2

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UpDownMarket · Nifty Microcap 250Sector · Cement & Cement Products peers, median of 37Pending

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

AI summary

Saurashtra Cement informs that Gujarat Siddhee Cement Ltd, merged with the company via NCLT order in March 2023, has received a show cause notice from the State Tax office in Veraval under Section 74 of the CGST and GGST Acts. Section 74 covers alleged tax evasion or suppression of facts. Detailed disclosures are in Annexure A.

Likely market impact

Tax notice on merged entity could lead to financial liability if not resolved. Watch for further updates on outcome.