Uflex drops 4%, hits 52-wk low on report of Income-Tax raid at Noida office

Shares of Uflex India declined 4.4 per cent, hitting a fresh 52-week low of Rs 466 apiece, on the BSE in Tuesday's intra-day trade amid reports of Income Tax raid at the company's Noida office. At 10:00 AM, shares of the company were down 3 per cent to Rs 473.3 as against an unchanged S&P BSE Sensex.

According to several media reports, the Income Tax department was conducting a raid at the office of Uflex in Noida, alleging that the company has issued several bogus bills in the recent past which were under scanner. Business Standard couldn't independently verify the