Archive · 12 Jun 2025
Ashoka Buildcon Shares Fall After GST Search Notice
Ashoka Buildcon, a construction company, saw its stock price drop after the Goods & Service Tax Department searched its office in Nashik.
This happened on June 11, 2025, and the search is still underway.
The company has said that the search hasn't stopped their normal business operations and that they don't yet know if it will cost them any money.
Ashoka Buildcon builds things like roads and bridges, and also sells concrete.
Ashoka Buildcon shares fell over 4% on Thursday.
The Goods & Service Tax Department served a notice for Search & Seizure operations.
The operations took place at the company's Nashik office on June 11, 2025.
The search is ongoing as of the report's publication.
The company states normal operations are unaffected, and financial impact is undetermined.
- Who
- Goods & Service Tax Department, Mumbai, Maharashtra.
- What
- Goods & Service Tax Department conducted Search & Seizure operations.
- When
- June 11, 2025
- Where
- Office premises of Ashoka Buildcon in Nashik, Maharashtra.
- Why
- Information not available in the provided articles.
- Company
- Ashoka Buildcon
- Stock Drop
- 4.15%
- Previous Close
- Rs 217.85
- Current Price
- Rs 208.80
- Market Cap
- Rs 5,854 crore
- Notice Served By
- Goods & Service Tax Department, Mumbai, Maharashtra
- Legal Basis
- Section 67 of MGST Act, 2017