GST appeal outcome favours Vedant Fashions, penalties set aside

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MANYAVAR · price

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

-2.2%Reaction day

₹586.70

prior close

₹589.50

announcement price

After-mkt

timing

Nifty Microcap 250market-0.2%-2.0% vs market

Speciality Retail peers, median of 17sector-0.7%-1.5% vs sector

On the reaction day the stock moved 2.0 pts less than Nifty Microcap 250 and 1.5 pts less than its Speciality Retail 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

-1.3

10m

-1.3

15m

-1.1

30m

-0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-2.2-0.2-2.0-0.7-1.5

Next day

-0.5-0.1-0.4-1.1+0.6

-3.5-3.4-0.1-3.5+0.0

-5.4-3.5-1.9-4.1-1.3

-3.2-2.7-0.5-1.9-1.3

-6.2-1.1-5.1-2.3-3.9

-8.8-0.8-8.0-3.5-5.3

15d

-11.2-2.9-8.4-8.5-2.7

-15.5-3.5-12.0-8.7-6.7

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UpDownMarket · Nifty Microcap 250Sector · Speciality Retail peers, median of 17Pending

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

AI summary

Vedant Fashions got a favourable ruling in a GST appeal. The CGST Appellate Authority in Mumbai set aside the demand for interest and penalties totalling about 2.74 lakh rupees. The original order arose from a GST audit covering FY 2017-18 to 2019-20 of Manyavar Creations, which is now merged with the company. The company confirms there is no material adverse impact on its financials or operations.

Likely market impact

Favourable ruling: GST penalties and interest of about 2.74 lakh rupees set aside. No material financial impact.