Sapphire Foods India falls on notice from tax authority
24/09/2026 10:06
BUZZ-Sapphire Foods India falls on notice from tax authority ** Shares of Sapphire Foods India SAPI.NS fall as much as 3.8% to 222.68 rupees; lowest intraday change since August 28
** Stock last down 3.7% to 222.71 rupees
** Restaurants and bars co received tax show cause notice for 5.17 billion rupees ($53.88 million) from Chennai tax authority
** Co received tax notice for wrongly availed tax credits and underpaid tax
** SAPI says tax notice contains calculation mistakes in amounts demanded by authority**Says tax notice had no material impact on financials and operations
** Stock down 13.15% YTD
($1 = 95.9500 Indian rupees)
(Reporting by Anushka Rajvedi in Bengaluru)
((mailto: anushka.rajvedi@thomsonreuters.com))
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