Moser Baer finally settled with a decline of 1.6% to Rs 83. The stock touched a high of Rs 86 and a low of Rs 79 during the day. The counter witnessed trades of around 1.3 million shares as against its two-week average traded quantity of 993,470 shares.
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(Updated 1039 hrs)
Moser Baer has slipped in early trades on SC notice on tax evation.
The stock opened at Rs 83 and touched a high of Rs 87. However, it dropped 7% from there to a low of Rs 81. The stock is trading near the day's low at Rs 82 - down 3.5%. The stock has slipped 8.5% in the past week. Over 315,397 shares have been traded on the BSE so far.
The Supreme Court has issued a notice to the company asking it to show reason why they should not be asked to pay income tax of Rs 2,978 crore. The income tax department has alleged that the company had evaded tax in 2000-01. The department further said that Moser Baer was not entitled to tax deduction.
