Shares of Himatsingka Seide Ltd fall after promoter named in Swiss Federal Gazette

Shares of Himatsingka Seide Ltd fell in today's trading to Rs. 169.80 in BSE, down by Rs. 23.85 or 12.32%. The stock hit an intraday low of Rs. 157 and intraday high of Rs. 193.35.

Shares fell after news spread that Dinesh Kumar Himatsingka, Executive Chairman of Bangalore-based Himatsingka group was one among the Indians with Swiss bank accounts whose names have been made public in Switzerland's Federal Gazette. This was part of the ongoing probe into offshore accounts by the Income Tax authorities.

The name of Dinesh Kumar Himatsingka, brother of Ajoy Kumar Himatsingka have also been made public after their details were sought by the Indian authorities.

Source : Equity Bulls

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