SRF gets show cause notice over Rs 266 crore ITC claim

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

-1.1%Reaction day

₹2486.20

prior close

₹2484.90

announcement price

After-mkt

timing

Nifty Midcap 150market+0.5%-1.6% vs market

Specialty Chemicals peers, median of 101sector-0.6%-0.5% vs sector

On the reaction day the stock moved 1.6 pts less than Nifty Midcap 150 and 0.5 pts less than its Specialty Chemicals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Sessions after the filingfrom the prior close

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Reaction day

-1.1+0.5-1.6-0.6-0.5

Next day

-0.8+1.6-2.3+1.0-1.8

-1.3+0.9-2.2+1.1-2.4

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15d

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UpDownMarket · Nifty Midcap 150Sector · Specialty Chemicals peers, median of 101Pending

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

AI summary

SRF has received a show cause notice from the CGST department in Vadodara alleging disallowance of Input Tax Credit of about Rs 266.32 crore for financial years 2022-23 and 2023-24. The department flagged mismatches between ITC claimed in GST returns and the auto-generated statement on the GST portal. SRF says the notice is not legally tenable, plans to contest before the appropriate forum, and believes it will have no financial impact.

Likely market impact

Show cause notice only, not an order. SRF disputes the claim and expects no financial impact. Watch for company response.