Polycab India Share Price Today: Company’s Stocks Dive 9% Amid Reports of Tax Evasion
The income tax (I-T) department conducted searches at a few of the company's locations and plants in December last year.
Amid suspicions of tax evasion, Polycab India Limited's shares saw a steep decline in trading on Tuesday, January 9. The stock fell 6.26% to close at Rs 4,850, the day's low. Approximately 2.44 lakh shares were traded today on the BSE. The amount was much more than the 16,000 share two-week average volume. With a turnover of Rs 122.70, the counter was valued at Rs 73,101.06 crore, or its market capitalization (m-cap). For the unversed, the income tax (I-T) department conducted searches at a few of the company's locations and plants in December last year. BluSmart Mobility Announces Pricing Structure and Introduces ‘Rush Hours’ and ‘Relaxed Hours’ Fees To Better Align With Your Travel Needs.
Polycab India Share Price Today
Sources say Income Tax Dept has claimed tax evasion of ₹200 cr in #Polycab. Company though denies any evasion, says it has received no communication from I-T Dept on outcome of search pic.twitter.com/S0IjNPCdaT
— CNBC-TV18 (@CNBCTV18Live) January 9, 2024
(The above story first appeared on LatestLY on Jan 09, 2024 04:19 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
