GST demand of about Rs 1.55 crore for 2023-24; company plans appeal

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STARPAPER · price

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

+2.1%Reaction day

₹147.63

prior close

₹147.63

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.0%+3.1% vs market

Paper & Paper Products peers, median of 32sector-1.1%+3.2% vs sector

On the reaction day the stock moved 3.1 pts more than Nifty Microcap 250 and 3.2 pts more than its Paper & Paper 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

+0.6

10m

+0.9

15m

+3.6

30m

+4.3

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

+2.1-1.0+3.1-1.1+3.2

Next day

-2.5-3.3+0.9-2.0-0.4

-1.6-2.9+1.4-2.2+0.6

-0.2-1.3+1.1-1.2+1.0

-3.1pendingpending-1.5-1.6

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15d

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UpDownMarket · Nifty Microcap 250Sector · Paper & Paper Products peers, median of 32Pending

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

AI summary

The GST department ordered total demands of Rs 1.55 crore for 2023-24, including tax, interest and penalties. This mainly relates to denied input tax credit for raw materials destroyed in a mill fire, plus GST on self-consumed paper and other receipts. The company will appeal.

Likely market impact

The company reports no material effect on operations or finances and will appeal, but the stock may face short-term pressure.