Shree Cement stock in focus today on rectification of income tax order

Shares of Shree Cement are in focus today after the firm said an income tax order seeking Rs 588.65 crore has now been rectified to a lesser amount. The order dated May 28, 2025 now stands reduced to Rs 221.72 crore. In the previous session, Shree Cement stock ended 0.73% lower at Rs 30,693 on BSE. Market cap of the firm stood at Rs 1.10 lakh crore.

"This is in furtherance to Company’s disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 dated 28th May, 2025, informing about order u/s 143(3) of the Income Tax Act, 1961 for FY 2021-22 raising demand of Rs. 588.65 Crs. In furtherance to the aforementioned disclosure, the Company desires to inform that said order has now since rectified u/s 154 whereby the demand now stands reduced to Rs 221.72 Crs. The said demand has since been fully paid by way of adjustment against pending refunds," said Shree Cement in a communication to bourses.