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Sobha slips 5%, nears 52-week low on raid by Income-Tax department

Sobha announced that a search by the Income Tax Department is being carried out at the registered office and other premises of the company

Sobha slips 5%, nears 52-week low on Income Tax department raids
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SI Reporter Mumbai
Shares of Sobha slipped 5.4 per cent to Rs 491.40 on the BSE in Wednesday's intra-day trade after the real estate company announced that a search by the Income Tax Department was being carried out at the registered office, and other premises of the company.

At 12:12 pm, Sobha was trading 5.2 per cent lower at Rs 492.60 on the BSE. It was also quoting close to its 52-week low of Rs 480.35, touched on June 20, 2022. In comparison, the S&P BSE Sensex was up 0.13 per cent at 58,152.

Sobha, however, said that as a responsible

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First Published: Mar 22 2023 | 12:44 PM IST

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