Shares of Tilaknagar Industries rose 6% after the company issued a clarification on media reports alleging its involvement in a liquor kickback scheme in Andhra Pradesh.
According to NDTV Profit and Informist, the Andhra Pradesh Police has reportedly named Tilaknagar Industries in a chargesheet, alleging the company paid approximately ₹218 crore in kickbacks to a liquor syndicate in exchange for securing orders worth ₹1,472 crore between 2019 and 2024.
In response, the company stated that it has not received any communication or notice from any regulatory or enforcement authority regarding the matter. It also emphasized its commitment to ethical business practices and its focus on building strong, trusted brands.
Tilaknagar Industries shares opened at ₹425.00 and moved between a high of ₹449.55 and a low of ₹424.80 during the trading session. The stock stayed close to its 52-week high of ₹457.00, while the 52-week low remains at ₹199.53. The stock has seen strong movement in recent sessions, staying in focus among investors. As of 11:16 AM, the shares were trading 6.92% higher at Rs 447.80.
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