GST show cause notice of Rs 15.37 crore from Haryana authority

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WELENT · price

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

-1.8%Reaction day

₹743.00

prior close

₹736.00

announcement price

After-mkt

timing

Nifty Microcap 250market-1.3%-0.5% vs market

Civil Construction peers, median of 99sector-1.1%-0.7% vs sector

On the reaction day the stock moved 0.5 pts less than Nifty Microcap 250 and 0.7 pts less than its Civil Construction 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

+1.4

10m

+0.6

15m

+0.9

30m

+0.6

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.8-1.3-0.5-1.1-0.7

Next day

-2.7-1.3-1.4-1.8-0.9

-3.1+0.0-3.1-1.0-2.1

-0.4-0.2-0.2-1.1+0.7

-0.4-3.0+2.6-2.4+2.0

-1.2-2.7+1.5-2.6+1.4

-0.7-1.7+1.1-1.6+1.0

15d

-15.6-8.9-6.7-8.7-6.9

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UpDownMarket · Nifty Microcap 250Sector · Civil Construction peers, median of 99Pending

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

AI summary

Welspun Enterprises received a show cause notice from the Haryana State GST Authority for FY 2022-23. The notice proposes a tax demand of Rs 15.37 crore along with applicable interest and penalty, alleging short payment of tax and excess claim of input tax credit. The company states the demand is without merit, plans to file a detailed reply, and expects the matter to be set aside during adjudication. Management sees no material impact on financials or operations.

Likely market impact

Contested Rs 15.37 crore tax demand from Haryana GST; company plans to fight it and expects no material financial impact.