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OMAXAUTO Omax Autos News Story

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Consumer CyclicalsSpeculativeMicro CapSuper Stock

India's Omax Autos rises after tax penalty dropped

** Shares of sheet metal parts maker Omax Autos OMXA.NS rise as much as 5% to 96 rupees, snapping five-day losing streak

** Tax authority drops penalty demand of 1.26 billion rupee ($14.21 million)

** YTD, OMXA down 18%

($1 = 88.6700 Indian rupees)

 (Reporting by Komal Salecha)

 ((Komal@thomsonreuters.com;))

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