SRF income tax demand cut to Rs 9.46 cr from Rs 327.44 cr after rectification

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

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₹2639.00

prior close

₹2656.60

announcement price

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Nifty Midcap 150market-0.0%+0.0% vs market

Specialty Chemicals peers, median of 95sector-1.2%+1.2% vs sector

On the reaction day the stock moved in line with Nifty Midcap 150 and 1.2 pts more than its Specialty Chemicals 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

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Reaction day

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Next day

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UpDownMarket · Nifty Midcap 150Sector · Specialty Chemicals peers, median of 95Pending

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AI summary

SRF's income tax demand for Assessment Year 2022-23 has been reduced from Rs 327.44 crores to Rs 9.46 crores after the Income Tax Department accepted the company's rectification application. The department acknowledged that the original demand arose from a technical error. SRF is evaluating further legal recourse for the remaining Rs 9.46 crores still under demand.

Likely market impact

Positive outcome - about 97 percent drop in disputed tax demand, easing the overhang, though a smaller residual amount remains contested.