Business

MotoCorp Hero Shares Over 6% Tank Over Income Tax Raid Concerns


Shares of Hero MotoCorp rose 6.32 per cent to Rs 2,151.60 on the BSE.

New Delhi:

Shares of Hero MotoCorp on Friday fell more than 6 percent amid new concerns regarding the IT department detecting various irregularities after a raid on the company.

Shares of Hero MotoCorp rose 6.32 per cent to Rs 2,151.60 on the BSE.

On the NSE, it fell 6.28 per cent to Rs 2,150.

The Income Tax Department has found allegations of illegal business expenses exceeding Rs 800 crore, Rs 60 crore “uncounted” cash used to buy land in Delhi and the role of several shell companies after it raided Hero MotoCorp and two other groups, officials said on Thursday.

The raid was launched on March 23, and the country’s largest two -wheeler maker later said it gave full cooperation to tax authorities, who visited its offices in Delhi and nearby Gurugram, apart from the residence of its chairman and CEO Pawan Munjal.

Agrasmartcity

Welcome to India's Largest news platform, I assure you that we daily update on Global news which helps you to grow your knowledge.

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button
AllEscortAllEscort