Jsw Metal Shares Drop 4% On Report Of Tax Evasion By Firm


By CNBCTV18.com  IST (Printed)

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JSW Metal shares had been down 3.2 %, buying and selling at Rs 659 on the BSE at 10:44 am. The inventory has been dropping for the final two days and has fallen 4 % throughout the interval.

Shares of JSW Metal dropped as a lot as 4 % on Friday after CNBC-TV18 reported that the Mumbai GST zone has detected tax evasion of Rs 265 crore by the metal maker.

The credit score of unutilised cess was consequently claimed as refund by GST authorities and it’s learnt that JSW Metal has repaid round Rs 261.7 crore in numerous tranches again to the GST authorities.

CNBC-TV18 has written to JSW Metal for formal remark and is awaiting its response.

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At 10:44 am, JSW Metal shares had been down 3.2 %, buying and selling at Rs 659 on the BSE. The inventory has been dropping for the final two days and has fallen 4 % throughout the interval.

The inventory has generated 70 % returns Yr-To-Date whereas previously one yr, it has gained 82 %.

Shares of different steel corporations have additionally seen a steep rally on the again of commodity inflation which is seen boosting realisations and earnings of those companies.

Nifty Steel has risen 67 % YTD and rose 86 % previously one yr.

 



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