India's Eureka Forbes hits fresh record low after $28.4 mln tax notice

Eureka Forbes

29/09/2026 08:34

** Shares of India's Eureka Forbes EURK.NS fall 2.2% to a fresh record low of 353.30 rupees, marking their fourth straight session of record lows
** Water and air purifier maker says it received show-cause notice from Uttar Pradesh GST authority for FY2022-23
** Adds notice alleges tax liability of 1.49 billion rupees, interest of 1.09 billion rupees and penalty of 149.2 million rupees, aggregating to 2.73 billion rupees ($28.41 million)
** All 14 analysts covering the stock rate it "buy"; median PT is 641.50 rupees - LSEG compiled data
** Stock down 42.9% YTD

($1 = 96.0875 Indian rupees)

 (Reporting by Payel Das in Bengaluru)
 ((Payel.das@thomsonreuters.com))