Waaree Energies Shares Plunge After Income Tax Department Investigates Offices, Facilities

Waaree Energies reported that its offices and facilities received visits from the Income Tax Department to conduct investigations under the Income Tax Act, 1961. (Image: X proflie) Show Quick Read Summary is AI Generated. Newsroom Reviewed

Shares of Waaree Energies Ltd. have plunged in trade on Wednesday after the company was subjected to investigations from the income tax department on Tuesday.

The stock is currently trading at Rs 3,138, which accounts for a fall of more than 4%. Waaree Energies shares reached an intraday low of Rs 3,075, which compares to Tuesday's closing price of Rs 3,281.

The intense pressure on Waaree Energies' shares likely comes on the back of an unprecedent investigation from Income Tax officials, who have searched the company's offices and facilities, acc