Indiabulls Group Shares Fall On Reports Of Tax Raids

Shares of Indiabulls group companies Indiabulls Wholesale Services, Indiabulls Housing Finance, Indiabulls Ventures and Indiabulls Real Estate fell between 5 per cent and 10 per cent on report that the Income Tax Department has raided Indiabulls offices across the country.

Meanwhile, the Bombay Stock Exchange has sought for clarification from Indiabulls on report of tax raids at its offices.

As of 11:26 a.m., shares of Indiabulls Real Estate (down 8.45 per cent to Rs 87.80), Indiabulls Ventures (down 8 per cent to Rs 31.50), Indiabulls Housing Finance (down 5.8 per cent to Rs 701) and Indiabulls Wholesale Services (down 4.86 per cent to Rs 28.40) were underperforming the Nifty, which was down 0.26 per cent.

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