India's Aditya Vision slides after state tax authority searches stores, warehouses
09/04/2024 09:54
** Shares of consumer electronics retailer Aditya Vision
ADIV.BO down 4.5% at 3,253.3 rupees, trimming losses after a
session-low 5.4% drop
** Co said Uttar Pradesh state tax authority conducted
searches at all of co's showrooms and warehouses in the state
** Added tax authority issued order for seizure of seven
temporary warehouses and order of prohibition for three stores
** Financial impact limited to sales from the three stores,
blocking of stocks at seven temporary warehouses - co
** ADIV set to snap three straight sessions of gains
** YTD stock has shed ~6% after a ~128% jump in 2023
(Reporting by Hritam Mukherjee in Bengaluru)
((Hritam.Mukherjee@thomsonreuters.com;))
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