Sunil Hitech plunges 20% on IT raids at office premises
Shares of Sunil Hitech Engineers crashed 20 percent intraday Thursday following IT raids at its office premises.
The engineering and construction company says income tax authorities are carrying out search proceedings at its premises on December 16 and December 17, 2015.
The company is in process of collating and responding to all queries raised by the income tax authorities and are extending all co-operations in this regard, it adds.
Sunil Hitech clarifies that it has no impact on routine operations.
At 15:20 hours IST, the scrip of Sunil Hitech Engineers was quoting at Rs 262.50, down Rs 63.20, or 19.40 percent amid high volumes on the BSE.Posted by Sunil Shankar Matkar
Read full article: Money Control
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