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Grovy India Limited stock rises 4.13% as the Income Tax Appellate Tribunal deletes Rs 1.00 crore tax demand

(27-Oct-26   14:39)

Grovy India Ltd. rises 4.13% to Rs 63.0, building on recent momentum and up 4.39% over the last week.

Grovy India Limited announced that the Income Tax Appellate Tribunal, Delhi Bench “B”, has partly allowed the company’s appeal regarding Assessment Year 2020-21. The Tribunal’s order, dated October 9, 2026, received by the company on October 26, 2026, resulted in the deletion of a Rs 1,00,00,000 addition under section 68 related to a loan received from M/s Nandini Tradex Pvt. Ltd., effectively reducing the tax demand raised. The company noted that this decision has no operational impact and no violation or contravention was held against the company.

Trading volume reached 1755 shares today, a surge of 3715.22% compared to the average volume of the last one week. Grovy India Ltd registered a strong increase of 65.70% year-over-year, outperforming the 12.37% loss in the NIFTY50 index.