Income Tax Raids Conducted at 50 Locations Connected to Polycab India in Mumbai

The Income Tax Department's investigation wing carried out searches at around 50 locations associated with Polycab India in Mumbai on Friday. 

The raids included residences and offices of top management officials connected to the company. 

Polycab India Limited, the largest manufacturer of wires and cables in the country, operates through 23 manufacturing facilities, over 15 offices, and more than 25 warehouses across India.

In September, the company disclosed a 59 percent increase in profits, reaching Rs 426 crore.

By December 11, Polycab's market capitalization neared the Rs 85,000 crore milestone, surpassing Havells India.

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