Lexus Granito (India) plunges 12% as GST Dept conducts search

Lexus Granito (India)

14/07/2023 05:35

** Shares of Lexus Granito (India) Ltd  LEXU.NS  slump as
much as 11.5% to 43.35 rupees
    ** Ceramic tiles maker on Thursday said Goods and Services
Tax Department conducted a search at some of premises and plants
related to the company
    ** During the investigation, two directors and one
accountant were arrested
    ** If trends hold, stock on track to drop for fifth
consecutive session
    ** About 39,600 shares change hands by 9:50 a.m. IST, 2.2x
the 30-day avg - Refinitiv Data
    ** Stock last down ~10%, extending YTD losses to ~40%


 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com))