Waaree Energies stock drops over 3 pc

Shares of Waaree Energies declined over 3 per cent on Wednesday after the company said Income Tax officials have conducted investigations at offices and facilities of the firm.

The stock dropped 3.29 per cent to settle at Rs 3,175.10 on the BSE. During the day, it tanked 6 per cent to Rs 3,085.

At the NSE, the stock lost 3.27 per cent to Rs 3,174.40.

In a filing to exchanges on Tuesday, the company said it is extending full cooperation to the IT officials.

''...certain officials of the Income Tax (IT) Department visited some of the company's offices and its facilities in India for conducting investigation under the Income Tax Act, 1961,'' Waaree Energies said.

The proceedings are underway and full cooperation is being extended to the officials, it said.