Shares of KEI Industries fell sharply by more than 3% during morning trade on Thursday after reports emerged that the Income Tax Department’s Investigation Wing had launched search operations against the company at multiple locations. As of 10 AM, the shares were trading 3.21% lower at Rs 4,983.10.
According to reports by Zee Business, Income Tax officials conducted coordinated raids at nearly half a dozen premises linked to KEI Industries, including locations in Delhi. The action has raised concerns among investors, triggering selling pressure in the stock during early trade.
Big action by the Income Tax Department on KEI Industries
The Investigation Wing of the IT Department has started search operations at KEI Industries.
IT officials have begun raids at around half a dozen locations linked to KEI, including premises in Delhi. @ZeeBusiness
— Tarun Sharma (@talktotarun) May 7, 2026
The searches were reportedly carried out by the Investigation Wing of the Income Tax Department, which is the specialised division responsible for handling serious tax evasion and undisclosed income cases.
Unlike routine tax surveys, search and seizure operations conducted by the Investigation Wing are generally launched after authorities gather credible intelligence related to possible concealment of income, undisclosed assets, or large-scale tax irregularities.
The simultaneous searches across multiple locations suggest that the operation was pre-planned and coordinated in advance to prevent destruction or movement of evidence.
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