Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
UltraTech Cement Limited ( (IN:ULTRACEMCO) ) has shared an announcement.
UltraTech Cement Limited has disclosed that it has received orders from the Assistant Commissioner, State Goods and Services Tax, Trichy, Tamil Nadu, relating to an alleged delayed payment of tax and interest. The authority has dropped a substantial tax demand of about Rs 1,334.8 crore, along with interest of roughly Rs 899.8 crore and a penalty of about Rs 13.34 crore, while upholding only a minor penalty of Rs 54,641, which the company will pay. UltraTech stated that the outcome of this GST proceeding has no material financial impact on its operations, easing a potential regulatory overhang for stakeholders.
More about UltraTech Cement Limited
UltraTech Cement Limited, part of the Aditya Birla Group, is India’s largest cement producer, manufacturing and marketing cement and related building materials for infrastructure and construction markets in India and overseas. The company is listed in India and also has debt listed on international exchanges in Luxembourg and Singapore, reflecting its scale and access to global capital markets.
Average Trading Volume: 10,586
Technical Sentiment Signal: Buy
Current Market Cap: 3472.5B INR
See more data about ULTRACEMCO stock on TipRanks’ Stock Analysis page.