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Waaree Energies Shares Dipped Following Tax Department's Office Visits

Waaree Energies Shares Dipped Following Tax Department's Office Visits

Post by : Bianca Haleem

On 19 November, Waaree Energies experienced a notable drop in shares after it announced that Income Tax Department officials had visited multiple offices and facilities. This information was made public through a filing with the exchange late Monday, where the company assured that it is fully cooperating with the ongoing proceedings.

Following the announcement, the stock faced immediate pressure when trading resumed on Tuesday. By 9:55 am, Waaree Energies had declined nearly 4% to Rs 3,156, even dipping as much as 6% during early trades. Despite this dip, the stock had shown a strong performance overall this year, achieving a 17% gain in 2025.

Market participants reacted with caution due to the ambiguity surrounding the visit, as the company has not provided additional specifics. Investors remained vigilant, anticipating further updates from official sources.

Currently, the acknowledgment of ongoing proceedings by the company has created a backdrop for potential short-term volatility, with the market closely monitoring any new developments.

Nov. 19, 2025 10:29 a.m. 1258
Global News UAE News Dubai

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