Income tax dept raids five Shree Cement locations in Rajasthan: Report

BENGALURU (Reuters) – India’s income tax department is conducting a survey at five sites of Shree Cement Ltd in the western state of Rajasthan, CNBC-TV18 reported on Wednesday, citing sources.

The Kolkata-based cement company and its IT department did not immediately respond to Reuters requests for comment.

Shares of Shree Cement fell 2.7% on the news, marking the biggest intraday percentage decline since May 24.

(Reporting by Indranil Sarkar in Bengaluru; Editing by Savio D’Souza)

(Only the title and image for this report may have been reworked by the Business Standard team; the rest of the content is generated automatically from a shared feed.)

First published: June 21, 2023 | 10:04 a.m ist