BENGALURU (Reuters) -India’s Income Tax Department is conducting a survey at Exide Industries’ offices and manufacturing units, the battery maker said on Thursday.
Exide said it is cooperating with authorities and that the move has not had any material impact on its business operations.
The company, which was scheduled to release its second-quarter results on Thursday, has postponed its board meeting and will announce a new date later, it said.
The company’s shares, which fell as much as 1.8% after the news, were last down 0.5%.
(Reporting by Nishit Navin in Bengaluru; Editing by Sonia Cheema)
