Ramky Infrastructure, which had closed yesterday at Rs.189.65, opened itself today 5% lower at Rs.180,20, hitting the LC of the day.

The stock is reacting to the news that an Income Tax raid is currently underway on the Ramky group and its Hyderabad office was raided.

The news is that the raids were being conducted to check whether the losses shown by the group companies of Ramky were genuine or not.