Announced Wed, 1 Apr · 21:51 IST
Income tax draft order, potential demand of ~Rs 149 Cr
Regulatory & Legal View source PDF
SHREECEM · price
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Price reaction · full curve 14 horizons · vs prior close
+1.0%1-day move
₹23340.00
prior close
₹22955.00
base price
After-mkt
timing
5m10m15m30m1D2D3D4D5D7D15D1M2M3M
-0.2-0.5-0.6-0.1+1.0-0.1+3.7+1.8+3.8+6.9+7.9+6.0+6.6+12.4
Up moveDown movePending
AI summary
Shree Cement received a draft Income Tax Assessment Order for FY 2022-23 from the Assistant Commissioner of Income Tax, Central Circle, Ajmer. The order proposes a likely demand of ~Rs 149 Cr (excluding interest), which may be adjusted against pending refunds. The company plans to file objections before the Dispute Resolution Panel or Commissioner Appeals, and believes the disallowances are not sustainable.
Likely market impact
Potential Rs 149 Cr tax demand (excl. interest), but company will contest and expects no major financial impact. May pressure near-term sentiment.