Man Industries Share Price Rises Over 3% After I-T Search Ends With No Business Impact

Man Industries (India) share price (NSE: MANINDS) rose sharply in Tuesday’s session after the company clarified that recent Income Tax (I-T) search operations had no impact on its business. The update helped the stock rebound in an otherwise weak market.

Man Industries Share Price Movement

The stock gained as much as 3.62% to ₹414.50 during the day. It later pared some gains and was trading around ₹409, up nearly 1.9%, even as the Nifty 50 slipped about 0.1%. In calendar year 2025, the stock is up over 26%.

Man Industries is currently trading close to its 52-week high of ₹491, which it touched in November. The stock had hit a 52-week low of around ₹201.55 in early March this year.

Why Did Man Industries Share Price Rise?

The rally came after the company informed exchanges that the Income Tax Department concluded its search operations on December 22. Man Industries said that business operations continued as usual and that there was no material impact from the search.

Background: Regulatory Concerns

The update provided relief to investors, as the company is also dealing with regulatory issues. In September, SEBI barred Man Industries and 3 senior executives from the capital markets for 2 years and imposed ₹25 lakh fines on each over alleged misstatement of financial results.

Read More, GRM Overseas Bonus Issue Record Date is Tomorrow, December 24! 

Relief From SAT

Later, in October, Man Industries said that the Securities Appellate Tribunal (SAT) had stayed SEBI’s order, subject to payment of 50% of the penalty amount. SEBI has alleged that the company’s financial statements between FY16 and FY21 were deliberately misstated.

Conclusion

Man Industries’ clarification on the Income Tax search has eased immediate concerns, leading to a strong bounce in the stock. However, investors may continue to track developments related to Sebi’s case and further regulatory updates.

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