Latest News | 360 ONE WAM Stock Declines over 5 Pc After I-T Dept Search Ops

New Delhi, Jan 28 (PTI) Shares of 360 One WAM declined more than 5 per cent on the bourses on Tuesday amid reports of the income tax department's search operations at IIFL Group offices on tax evasion concerns.

The scrip of 360 One WAM depreciated 5.72 per cent to close at Rs 1,015 apiece on the National Stock Exchange (NSE).

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On the BSE, it fell 5.17 per cent to finish at Rs 1,019.60 per piece.

During the day, 360 One WAM shares plunged more than 12 per cent to hit an intraday low of Rs 944.25 and Rs 945 apiece on the BSE and NSE, respectively.

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IIFL Finance's stock fell 2.24 per cent to settle at Rs 349.85 apiece on the NSE, while it went lower by 2.04 per cent to end at Rs 349.80 apiece on the BSE.

In addition, IIFL Capital Services scrip declined 2.23 per cent to close at Rs 227.90 apiece on the BSE.

On the NSE, it slipped 1.48 per cent to finish at Rs 229.45 apiece.

The 30-share Sensex climbed 535.24 points or 0.71 per cent to settle at 75,901.41 and the broader 50-share NSE Nifty appreciated by 128.10 points or 0.56 per cent to close at 22,957.25.

According to reports, the Income Tax (I-T) Department on Tuesday conducted search operations at the offices of three IIFL group companies -- IIFL Finance, 360 One Wam and IIFL Securities. These searches were linked to allegations of tax evasion.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)