Firstcry Shares Fall After GST Department Investigation

The shares of Firstcry dropped significantly following news that the GST Department has initiated an investigation into the company’s tax practices. The probe focuses on allegations of tax evasion and discrepancies in the company's GST filings. The investigation has raised concerns among investors about the financial stability and regulatory compliance of Firstcry. The potential outcomes of the investigation could range from heavy penalties to stricter regulatory scrutiny, which could impact the company's market position and financial performance. The market reaction has been swift, reflecting investor anxiety about the potential findings and their implications for the company’s operations.