The income tax department has conducted a search operation on Mumbai-based Kanakia Group. The raids were conducted early morning, in Mumbai and Lucknow, for alleged tax evasion pursued by Kanakia Group, reports CNBC-TV's Ashwin Mohan quoting sources.
Cinemax India touched an intraday high of Rs 44.25 and an intraday low of Rs 40.15. At 11:12 hrs the share was quoting at Rs 40.70, down Rs 3.45, or 7.81%.