Shares of Akums Drugs and Pharmaceuticals fell over 6% on January 22 following the company’s disclosure of an Income Tax Department search at its offices and manufacturing units. In an exchange filing, Akums stated it fully cooperated with the authorities and has provided the necessary clarifications. The company emphasized its adherence to corporate governance practices and assured investors that business operations continue as usual, apart from minor disruptions.
Akums has committed to comply with all legal disclosure obligations and provide updates as required. The development has raised investor concerns, contributing to the stock’s decline during trading hours.
As 11:03 am the shares were trading 6.11% lower to ₹587.40 on NSE.
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