India's Bansal Wire falls after 2.03 billion rupee tax penalty notice

Bansal Wire Industries

03/12/2025 03:55

** Shares of Bansal Wire Industries BANW.NS fall 2.2% to 311.40 rupees

** Stainless steel wire manufacturer receives tax penalty notice of around 2.03 billion rupees ($22.6 million)

** Notice highlights issues involving e-way bills, availment of blocked and excess input tax credit, non-payment of tax on some licence sales

** BANW expects no material impact and intends to file an appropriate response within prescribed timeline

** YTD, BANW down nearly 31%

($1 = 89.8930 Indian rupees)

 (Reporting by Urvi Dugar in Bengaluru)

 ((UrviManoj.Dugar@thomsonreuters.com;))