Greenply Industries shares declined sharply by more than 3% in early trade on February 27 after a media report stated that the Income Tax (IT) Department conducted a raid on the company over alleged tax evasion. The development was reported by Zee Business.

As of 10:26 AM IST, Greenply Industries stock touched an intraday low of ₹215.01, compared to the previous close of ₹223.55. The stock opened at ₹223.45 and climbed to a high of ₹225.78 before witnessing selling pressure. Trading volume stood at 5,69,847 shares at the time of reporting.

The sharp intraday decline follows the report of an IT raid linked to alleged tax evasion. However, no official statement from the company was available at the time of writing.

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TOPICS: Greenply Industries