Waaree Energies stock slips over 3% after IT raids

Income Tax officials conducted searches at multiple offices and facilities of Waaree Energies across India as part of an investigation under the Income Tax Act, 1961, the company said.

What did the company say?

In a filing to the exchanges, the solar equipment manufacturer said, “…certain officials of the Income Tax (IT) Department visited some of the company’s offices and its facilities in India for conducting an investigation under the Income Tax Act, 1961.”