Shares of Brainbees Solution-operated FirstCry fell by 4.5 per cent to their day’s low of Rs 597.80 on the BSE
Shares of Brainbees Solution-operated FirstCry fell by 4.5 per cent to their day’s low of Rs 597.80 on the BSE after the company informed that the GST department of Mumbai has initiated an investigation at the company’s head office and a warehouse in Pune.
“We wish to inform you that the Assistant Commissioner of State Tax, Mumbai has initiated a search/inspection on 6th November 2024 at the head office of the Company in Pune and at one of its warehouses located at Bhamboli in Maharashtra,” said Brainbees Solutions in a stock exchange filing.
The company said the inspection happened under sub-section (1) / search under sub-section (2) of Section 67 of MGST Act 2017.
The company said it is co-operating with the officials and is responding to all the clarifications and details sought by them and that this has not impacted the operations of the company, which are continuing as usual.
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“We would like to emphasise that the company has always maintained high standards of integrity, corporate governance, and compliance in all aspects of its operations, including the prompt payment of applicable taxes. We remain committed to upholding these standards. The company will provide material updates on this matter to the stock exchanges, as applicable,” said the company.
In another filing to the exchanges today, the company has informed that its board meeting will take place on November 14 wherein they will consider and approve their second quarter results.
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“This is to inform you that a meeting of Board of Directors of the Company is scheduled to be held on Thursday, November 14, 2024, inter alia, to consider and approve the Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter and half year ended September 30, 2024,” the filing said.
In the last one month, the shares of FirstCry have fallen by 4.2 per cent and by 6 per cent in the last 2 weeks, according to the BSE analytics.
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