Welspun Corp opened lower today morning, going down 4% intra day to Rs.105 levels. It has recovered and is now barely holding on to the green, less than 0.5% up.

The company informed the exchanges yesterday that it has received provisional Assessment Orders along with demand notices from the Assistant Commissioner of Commercial Tax, Gandhidham.

This is for the period starting from February 01, 2014 and ending on September 30, 2015 and is for its manufacturing unit at Anjar (Gujarat). 

The demand notice is for Rs.1000 crore and this includes tax amount of Rs.37.53 crores and interest and penalty amount of Rs.62.9 crore.