The tax demand comprises a GST of ₹208.02 crore, ₹200.22 crore as interest, and penalties of ₹20.80.

Despite closing higher for the ninth consecutive day on Tuesday, the markets do not exhibit a bullish sentiment, with indices indicating the possibility of consolidation.

Technical outlook: The current upward trend is expected to continue as long as the Nifty stays above the key level of 24,980. 

The Nifty 50 closed just 7 points up at 25,017.75, while the Sensex ended 14 points up at 81,711.76.

Though technology stocks abroad have fallen, the Nifty IT sector saw a morning gain of 0.5%.

The Nifty has resistance in the 25080-25100  area on the upper side; the bullish momentum might continue today if the Nifty moves above this area.

New concerns cool market enthusiasm; tech stocks dip; crude oil surpasses $81; Asian markets slide

The company receiving a SEBI show-cause notice is not a new development, Paytm said in an exchange filing on Monday.

Zerodha's Nithin Kamath speaks on the surge of fake trading app scams and warns that they are designed to make people who invest money believe that they will make profits, but these are limited to the initial trades.

The Nifty ended 187 points, or 0.76 percent, higher at 25,010.60; the Sensex closed with a gain of 612 points, or 0.75 percent, at 81,698.11.