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I-T raids dampen sentiment on CSE
Dheer Kothari
Calcutta, March 10: News of income tax raids on five prominent brokers of Calcutta Stock Exchange together with the launch of I-T surveys on some other brokers acted as a major dampener, with pivotals beating a hasty retreat. Even the fancied software and entertainment stocks reacted on panic sales from operators. Satyam, Zee and and Himachal Futuristic closed lower at Rs 6276, Rs 1265 and Rs 2077 respectively. Efforts to contact income tax department officials proved futile, despite repeated attempts. Market feedback suggests that the raid is part of a broader gameplan to bring the big operators within the tax net.Following its success in Mumbai and Delhi , the net has now been spread to catch the big fish in Calcutta also. The department today targeted Sanjay Khemani, Mathran Securities, Pradeep Kumar Saraogi, Radhey Shyam Kanodia and Sanjay Taparia, according to market sources. In addition, the department launched surveys into the operations of Dalmia Securities, Kunj Bihari Kejriwal, Citizen Securities and Agbros Securities. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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