Dishman Carbogen gains 10% after I-T dept concludes searches

Motilal Oswal Asset Management Company Limited sold 812,573 equity shares of the company at Rs 73.62 apiece on the BSE on Tuesday through bulk deal.

Shares of Dishman Carbogen Amcis Limited halted its losing run on Thursday to hit the 10 per cent upper circuit on the BSE at Rs 79.30, recovering 12 per cent from its early morning low after the company said the Income-Tax (I-T) department had concluded searches at its offices and manufacturing sites. The stock hit an all-time low of Rs 71 in intra-day trade today.

In a regulatory filing, the company today said the I-T department's search operation was concluded on Wednesday (December 25, 2019).

Earlier, in past three trading days, the stock of pharmaceutical company tanked 38