Real estate firm Sobha Ltd became the latest firm to find itself under the taxman's scrutiny, adding to investors' woes. The stock tumbled over 5 percent to Rs 493 on Wednesday after the company informed the exchanges about the tax department’s action.
The Unit 1 of Padra plant was shut for 3-4 weeks owing to planned regular maintenance schedule and associated equipment upgradation work. Exxaro Tiles announced that the plant restarted from Wednesday, 28 December 2022, on a regular basis after necessary equipment up-gradation and maintenance. Exxaro Tiles makes ceramic tiles. Through its two main product categories—double-charge vitrified tiles and glazed vitrified tiles—it offers vitrified floor tiles. The company currently sells its goods to over 10 countries and has more than 2,000+ touch points across 25 states, mostly in South and West India. Net profit of Exxaro Tiles declined 75.62% to Rs 1.37 crore on 18.90% decline in net sales to Rs 72.54 crore in Q2 September 2022 over Q2 September 2021.