Sharda Motor Industries Limited has informed the Exchange about Action(s) taken or orders passed
SHARDAMOTR · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 1.0 pts less than Nifty Microcap 250 and 0.7 pts less than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Sharda Motor Industries has received appellate orders from the Commissioner of Income-Tax (Appeals), New Delhi, for 6 assessment years (AY 2018-19 to AY 2021-22 and AY 2023-24 to AY 2024-25). The original total tax demand of Rs 84.89 crore is expected to be reduced to just Rs 6.11 crore after the CIT(A) order. The company plans to file a further appeal before the Income Tax Appellate Tribunal (ITAT) against the remaining demand of Rs 6.11 crore. The appeal for AY 2022-23 is still pending before CIT(A). Management views the outcome as materially favorable, with nearly 93% of the demand being eliminated at this stage.
Positive for shareholders — the bulk of the tax demand (around Rs 78.78 crore) has been quashed, removing a major overhang on the stock. The company still has to fight the remaining Rs 6.11 crore, but the worst-case scenario has improved significantly.