Alkem Laboratories share price slumped over 14% following media reports claiming that income tax department has found widespread tax fraud of ₹1000 crores. Alkem Lab share price opened at an intraday high of ₹5,421.65 apiece on BSE . India Today TV, citing its sources, reported that the income tax department found that the company had made excessive and fraudulent deductions for its Sikkim manufacturing operations. Sources also claimed that the probe results would lead to heavy penalties for Alkem Labs," said India Today in its news report. Also Read: Stock market today: Gensol Engineering share price rebounds after retracing from 52-week high.

Source: India Today February 26, 2024 08:09 UTC