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InfrastructureMedium impactPre-market

Supreme Court stays IRCON's ₹79 crore VAT demand

pre-market1 source ↓written by the desknot a recommendation

The Supreme Court has granted a stay on VAT demands totaling ₹78.64 crore against IRCON International Ltd, related to the Ganga Bridge project for fiscal years 2010-11 to 2016-17, excluding 2011-12. This follows a Patna High Court ruling that upheld VAT demands for certain years.

This development may alleviate financial pressure on IRCON, potentially improving market sentiment around the stock.

Not investment advice. For informational purposes only.

OI Charts is not a SEBI-registered investment adviser or research analyst. This bulletin was written by the OI Charts desk from the public sources listed here. It is commentary on market conditions, not a basis for any investment decision and not a recommendation to buy or sell any security. Prices as of 18 Mar 2026, 07:16 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

IRCON closed +2.5% on the day of the news, from ₹126.52 to ₹129.75; Nifty +0.8% over the same session.

Bulletin at 07:16 IST on 18 Mar 2026. Every change is measured from ₹126.52, the last close before it, on 17 Mar. Nifty 50 is measured over the same sessions.

  • IRCON close ₹
  • Nifty 50, rebased to the close before the news
  • close before the news
  • above it
  • below it
IRCON closes around the bulletin against the close before the news, with Nifty 50 rebased to it104.86126.52148.18axis spans 41%before the news · 17 Mar126.52Nifty 50IRCONbulletinD0+1+3+511 Mar23 Mar6 AprReference close ₹126.52. 16 sessions from 11 Mar to 6 Apr; the price axis spans 41 percent.
price axis fixed at 4 × the 14-session true range around the close before the news · values printed at each marked session
Closes after the news against the close before it, with Nifty 50 over the same span
SessionClose ₹Change %Nifty %
Before17 Mar₹126.52basebase
On the day18 Mar₹129.75▲ +2.5%▲ +0.8%+1.7 pp difference
+1 session19 Mar₹124.18▼ −1.9%▼ −2.5%+0.6 pp difference
+3 sessions23 Mar₹115.24▼ −8.9%▼ −4.5%−4.4 pp difference
+5 sessions25 Mar₹123.82▼ −2.1%▼ −1.2%−1.0 pp difference
Gap at the open, % · ₹
▲ +1.0%+1.27 on 18 Mar
Day's range, % · ₹
3.6%≈ 4.6 high to low
Volume on the day
0.75×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
—

Source NSE UDiFF bhavcopy · IRCON on the desk →

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