Mankind Pharma Share: After the income tax raid, the company’s stock fell heavily
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The department’s search is on at the Delhi office of the company. The company has been listed in the stock market two days back. Quoting sources, it is reported that Income Tax officials are conducting raids at the Delhi office of the company since Thursday morning.
Condom maker Mankind Pharma’s stock is witnessing a decline in the stock market on Wednesday. The country’s biggest pharma company Mankind Pharma has been raided by Income Tax. The department’s search is on at the Delhi office of the company. Let us tell you that the company has been listed in the stock market two days back. Quoting sources, it is reported that Income Tax officials are conducting raids at the Delhi office of the company since Thursday morning. Since the news of the raid came, the shares of the company saw a decline. The stock was trading at Rs 1,358 per share, down 1.79%.
Mankind Pharma’s IPO opened on 25 April. In this, the application was made till 27 April. The stock listed at a 20% premium to the issue price. The IPO was closed by filling more than 15 times. There was a bumper listing of Mankind Pharma in the stock market. The scrip was listed at Rs 1,300 on both BSE and NSE with a premium of 20.4 per cent. The price band for Mankind Pharma’s IPO was set at Rs 1026 to Rs 1080 per share.
Let us tell you, Mankind Pharma manufactures many types of generic medicines. Along with this, it is also taking rapid steps towards making patented drugs. Mankind Pharma has created many different brands in condoms, pregnancy detection, emergency contraceptives, antacid powder, vitamins, mineral supplements and anti-acne categories.
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