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Polycab India shares fall after I-T dept conducts raids on 50 locations

Shares of Polycab India Ltd slipped 3% in early trade after the investigation wing of the Income Tax Department carried out searches at nearly 50 locations linked to the firm across the nation on Friday. The residences and offices of the top management linked to the cables and wire maker were also being raided, according to reports. Polycab India shares slipped 3% to Rs 5450 on BSE. The stock closed at Rs 5620.60 in the previous session.

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