NSE: COROMANDEL · 28 October 2026
- Coromandel International Ltd. (COROMANDEL) dropped 2.01% on Tuesday, closing at ₹1,703.50 after moving between an intraday high of ₹1,768.00 and a low of ₹1,703.50.
- The company reported an Order-in-Original from the Additional Commissioner, Vadodara-II Central GST, confirming a tax demand of ₹2,50,82,496 plus equivalent penalty and applicable interest for fiscal years 2021-22 to 2024-25. The demand stems from alleged wrongful availment and utilisation of ITC. Coromandel stated it plans to file an appeal before the Commissioner (Appeals).
- Trading volume was 0.38 times the 20-day average daily volume.
Why is Coromandel International share price falling on 28 October 2026?
Coromandel International Ltd. (COROMANDEL) dropped 2.01% on Tuesday, closing at ₹1,703.50 after moving between an intraday high of ₹1,768.00 and a low of ₹1,703.50.
The broader market and sectoral benchmarks saw mild weakness, with the Nifty down 0.22% and the Nifty Metal sector declining 0.32%. Coromandel underperformed both benchmarks during the session while extending a broader pullback, having posted a 5-day return of -4.92% and a 20-day return of -10.30%, bringing the stock closer to its 52-week low of ₹1,651.10 compared to its 52-week high of ₹2,499.00.
Company disclosures showed that Coromandel recently received an Order-in-Appeal from the Deputy Commissioner (Appeal), Chennai North, under Section 73 of the GST Act involving a tax demand of ₹1,78,56,068, interest of ₹2,08,43,168, and a penalty of ₹17,85,606 related to alleged ineligible Input Tax Credit for fiscal 2019-20. While the company stated it plans to appeal before the GSTAT and maintains that the matter has no significant financial impact, the regulatory filing coincided with the ongoing weakness in the stock.
75,811 shares traded by 28 October 2026 · 03:30 PM IST. This compares with a 20-day average daily volume of 2.00 lakh shares (0.38 times). The five-day average daily volume was 1.10 lakh shares. Separately, the NSE report for 28 October 2026 showed 28,470 shares delivered, representing 37.55% of that day’s traded volume. The same report recorded 11,081 trades.
Coromandel fell 2.01% in a weak session with low cash volume, continuing a multi-week correction toward its 52-week low. Recent GST tax order disclosures provide backdrop context, though no direct causal trigger was established for the day's specific drop.
Latest Company Developments
The company reported an Order-in-Original from the Additional Commissioner, Vadodara-II Central GST, confirming a tax demand of ₹2,50,82,496 plus equivalent penalty and applicable interest for fiscal years 2021-22 to 2024-25. The demand stems from alleged wrongful availment and utilisation of ITC. Coromandel stated it plans to file an appeal before the Commissioner (Appeals).
Highlights multi-year tax scrutiny regarding input tax credits across manufacturing units.
Coromandel executed an agreement with its wholly-owned subsidiary, Coromandel Chemicals Limited, to convert an outstanding loan including accrued interest amounting to ₹108.07 Crores into 2,70,52,132 equity shares at ₹39.95 per share. The transaction was approved by the board and executed on an arm's length basis.
Restructures the capital and debt obligations within the subsidiary holding structure.
a press release dated July 23, 2026, titled "Coromandel International Limited Posts Q1 FY27 Results".
'Press Release – Dhaksha Unmanned Systems inaugurates new manufacturing facility in Kancheepuram, strengthens indigenous drone capabilities'.
Ownership & Transaction Activity
Mutual Fund Holdings
Mutual funds held 14.97% on 30 September 2026. This compares with 14.57% on 30 June 2026, a change of +0.40 percentage points.
The filing reported 36 MF/UTI holders.
What to Watch Next
- Outcome and filings regarding appeals filed against the Chennai and Vadodara GST tax demands
- Delivery volume trends relative to the 20-day average volume of 38% participation
- Performance near the 52-week low level of ₹1,651.10
- Quarterly financial results and operational updates from the agri-inputs business
More Coromandel International news and dated analysis →
Frequently Asked Questions
What is the latest Coromandel International company news?
The company reported an Order-in-Original from the Additional Commissioner, Vadodara-II Central GST, confirming a tax demand of ₹2,50,82,496 plus equivalent penalty and applicable interest for fiscal years 2021-22 to 2024-25. The demand stems from alleged wrongful availment and utilisation of ITC. Coromandel stated it plans to file an appeal before the Commissioner (Appeals).
How strong was Coromandel International’s trading volume?
75,811 shares traded, 0.38 times the 20-day average daily volume. The price and volume data are dated 28 October 2026 · 03:30 PM IST.
Do the mutual-fund figures show buying today?
They show holdings on 30 September 2026. Quarterly holdings do not identify purchases made on the article date.
Research & analysis: WittyTrades Research Desk
Reviewed by: Mohanish Sanghavi — SEBI Registered Research Analyst
Disclaimer: Investments in securities markets are subject to market risks. Registration with SEBI and NISM certification do not guarantee performance or returns. This article is for information and education, not personalised investment advice or a recommendation to buy, sell or hold.