After continuous decline, a rise of more than 13 percent was seen in the shares of Balu Forge Limited on Tuesday. Earlier, the company’s shares had registered a decline only during 8 consecutive trading days. Let us tell you, today is the first day in 2026 when a jump has been seen in the prices of the company’s shares. In 2026, the company’s share price had fallen by 26 percent.
Big relief from Income Tax Department
In the information given to the stock exchange, Balu Forge Limited had said that some of their offices and manufacturing units were investigated under the Income Tax Act 1961. This investigation started on January 7. Ended on 12 January. In a statement issued by Balu Forge, it said, “The company, promoters and important officials cooperated fully in the investigation. The documents, clarifications and details sought by the department have been shared. During this period, no wrongdoing was found. Nor has anything been seized.” Balu Forge said that this investigation has had no impact on business operations and production. The company has said that if needed, more information will be shared in the future.
rapid buying of shares
This stock opened at the level of Rs 455.10 in BSE. During the day, the company’s share price rose 13 percent to an intra-day high of Rs 499.40. This multibagger stock has been struggling in the stock market for the last one year. During this period, the company’s share prices have declined by 23 percent. However, even after this, the company has given returns of more than 70 percent to positional investors in two years. Let us tell you, in three years, the share prices of Balu Forge Limited have registered a jump of 529 percent.
