Aarti Industries share price slipped more than 4 percent intraday on January 10 after the income tax department carried out searches at the company's premises.
The investigation wing of the income tax department was conducting searches at the offices and manufacturing plants of Aarti Industries, a source told Moneycontrol.
The Mumbai headquartered company has 16 manufacturing units, including Vapi, Tarapur, Dahej and Silvasa, spread along the western coast of India.
The reason for searches could not be immediately ascertained.
At 1335 hours, Aarti Industries was quoting at Rs 880.65, down Rs 39, or 4.24 percent, on the BSE.
The share touched its 52-week high of Rs 949.50 on May 28, 2019 and 52-week low of Rs 650.78 on February 20, 2019.It is trading 7.61 percent below its 52-week high and 34.79 percent above its 52-week low.