Dishman Carbogen tanks 11%, hits 52-week low after I-T dept's search ops

The Income Tax Department conducted day-long 'search and survey operation' at the properties of the pharma major

Shares of Dishman Carbogen Amcis slumped 11 per cent to hit a 52-week low of Rs 104 on the BSE on Friday after the Income Tax Department conducted day-long 'search and survey operation' at the properties of a pharma major. The stock has thus fallen below its previous low of Rs 110, touched on October 25, 2019.

“The officials of Income-Tax Department have visited the company’s Head Offices and Manufacturing sites in connection with search under Section 142 of the Income-Tax Act on 19th December, 2019 and search enquiry is continuing. As a law abiding corporate, the company is