India's HEG down after getting tax demand worth 2.82 billion rupees

HEG Advanced Materials

02/07/2025 06:43

** Shares of HEG HEGL.NS fall as much as 2.3% to 501.7 rupees per share

** Graphite electrodes manufacturer receives a show-cause notice from Bhopal Tax Authority for GST demand and recovery of IGST refunds for the financial year 2018–19

** HEGL says the total tax demand amounts to 2.82 billion rupees, and it will only have a limited impact on the final tax liability

** Also adds it will file a reply to the notice

** HEGL up 0.6% in 2025 so far, underperforming the 5.3% rise in the Nifty 500 index .NIFTY500, exchange data shows

(Reporting by Bharath Rajeswaran in Bengaluru)

((bharath.rajeswaran@thomsonreuters.com; +91 9769003463;))