UltraTech Cement on Saturday said it has received a demand notice of Rs 782.2 crore from GST authorities and plans to challenge the order before the appropriate forum, according to PTI.In a regulatory filing, the Aditya Birla Group company said it is reviewing the order and considering all legal options. “The Company is reviewing the Order, considering all legal options, and accordingly would be contesting the demand,” UltraTech Cement said, PTI quoted.The demand pertains to the period 2018-19 to 2022-23 and has been raised on account of alleged short payment of Goods and Services Tax (GST), improper utilisation of Input Tax Credit (ITC) and related matters, the company said.UltraTech added that the order was passed “without due consideration of the Company’s submissions”.According to the filing, the order upholds a tax liability of Rs 3,90,95,58,194, along with applicable interest on the tax demand, additional interest of Rs 27,68,289, and a penalty of Rs 3,90,95,58,194.The company said the order was issued by the Joint Commissioner, Central Goods and Services Tax and Central Excise, Patna, on Friday.UltraTech Cement is India’s largest cement manufacturer, with a production capacity nearing 200 million tonnes per annum.

Last Updated:December 20, 2025, 14:58 IST

RRP Semiconductor Ltd.’s spectacular stock rally is making headlines, but the company isn’t what its name suggests.

The stock market can be full of surprises, but few stories are as bizarre as this one. An Indian company, RRP Semiconductor Ltd., has seen its stock soar by a mind-blowing 55,000% in just 20 months, all this while reportedly having just two employees. What makes the story even stranger is that, despite its name, the company does not manufacture semiconductors at all.

The sheer absurdity of such a small company seeing this kind of surge makes it one of the most surreal episodes in recent Indian stock market history.

Trading Restricted By Stock Exchanges

Trading in RRP Semiconductor Ltd. has now been restricted by stock exchanges. On the BSE, the stock’s page displays the notice, “Trading Restricted – on account of Surveillance Measure.” RRP Semiconductor has been placed under Stage 1 of the Long-term Additional Surveillance Framework and Stage 0 of the GSM framework, reported CNBC-TV18.

A 55,000% Rally That Defies Fundamentals

The over 55,000% in the 20 months till December 17 is by far the biggest gain worldwide among companies with a market value above $1 billion, reported Bloomberg. This is despite the company posting negative revenue in its latest financial results.

The jaw-dropping stock market story is also doing the rounds on Instagram. According to a reel, “Rs 10,000 invested in it would have grown to Rs 55 lakhs during this window.”

Name Change Sparks Frenzy

Until 2024, RRP was a little-known real estate firm called GV Trading and Agencies. Things changed when Rajendra Chodankar, the founder of RRP, struck a deal to take over GD Trading and Agencies by repaying a Rs 8 crore loan owed to its founders. Chodankar renamed the company RRP Semiconductor. That single word, semiconductor, proved to be a powerful magnet for retail investors.

As the reel explains, “The moment the word ‘semiconductor’ entered this company’s name, retail investors went crazy.”

The timing was perfect. Global chipmakers like NVIDIA were soaring, AI was dominating headlines and India had no listed pure-play semiconductor manufacturing companies. For many investors, this stock seemed like a rare entry point into a hot global theme.

Hype, Rumours, Star Power

Fuel was added by unverified claims swirling on social media, including false rumours of cricket great Sachin Tendulkar being associated with the company and talk of 100 acres of land being allotted.

The real driver of the dizzying rally lay elsewhere. According to September shareholding data, Chodankar and a few of his close associates hold over 90% of the shares, leaving very little free float in the market.

Myths Busted

The reel also busts the biggest myths outright. “The talks of Sachin Tendulkar, 100 acres of land, all of that is completely fake.”

The episode has become a cautionary tale for investors caught in the fear of missing out. The narrator says. “NVIDIA is up, AI is everywhere and India has no semiconductor stocks. But this is a classic example of that desperation being exploited.”

SEBI Launches Investigation

The Securities and Exchange Board of India (SEBI) has launched a probe into the company. The market regulator is examining the sharp rise in RRP’s shares for possible wrongdoing.

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