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InfrastructureMedium impactAfter close

Supreme Court stays IRCON VAT demand of ₹79 crore

after close1 source ↓written by the desknot a recommendation

The Supreme Court has granted a stay on VAT demands of ₹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 specific years, leading to tax notices from state authorities. 📉

This stay may alleviate immediate financial pressure on IRCON, potentially stabilizing investor sentiment in 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, 16:12 IST.

Sourcesnews.google.com

Read inENहिंతెमराதગુ

The market after the news

IRCON closed −4.3% on the day of the news, from ₹129.75 to ₹124.18; Nifty −3.3% over the same session.

Bulletin at 16:12 IST on 18 Mar 2026. Every change is measured from ₹129.75, the last close before it, on 18 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 it107.54129.75151.96axis spans 41%before the news · 18 Mar129.75Nifty 50IRCONbulletinD0+1+3+512 Mar24 Mar7 AprReference close ₹129.75. 16 sessions from 12 Mar to 7 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 %
Before18 Mar₹129.75basebase
On the day19 Mar₹124.18▼ −4.3%▼ −3.3%−1.0 pp difference
+1 session20 Mar₹123.68▼ −4.7%▼ −2.8%−1.9 pp difference
+3 sessions24 Mar₹118.62▼ −8.6%▼ −3.6%−4.9 pp difference
+5 sessions27 Mar₹121.24▼ −6.6%▼ −4.0%−2.5 pp difference
Gap at the open, % · ₹
▼ −3.2%−4.10 on 19 Mar
Day's range, % · ₹
2.4%≈ 3.1 high to low
Volume on the day
0.44×the 20-session average
Futures OI on the day
—
Futures OI open, lots
—
Futures premium, ₹
—
Puts per call, by OI
—
Max pain
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