Blue Star shares gain despite Rs 3.39-cr penalty notice on stamp duty

The share touched a 52-week high of Rs 950.40 and a 52-week low of Rs 552.80 on 19 October, 2023 and 18 November, 2022, respectively.

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The Blue Star stock traded with marginal gains early on October 23 even after the company received a notice from the Collector of Stamps, Mumbai.

On October 19, the company has received a notice from the Collector of Stamps, Mumbai, imposing a penalty of Rs 3.39 crore, alleging a default in payment of stamp duty with respect to the scheme of amalgamation approved by the High Court of Bombay on May 2, 2008.

The Collector of Stamps has directed the company to pay the amount within seven days of the receipt of the notice.

The company is reviewing the sanctity of the demand made in the said notice and shall accordingly file a suitable reply with the office of the Collector of Stamps, Mumbai.

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The share touched a 52-week high of Rs 950.40 and a 52-week low of Rs 552.80 on October 19, 2023 and November 18, 2022. The stock is trading 3.04 percent below its 52-week high and 66.71 percent above its 52-week low.