Balu Forge Shares Rally After Income Tax Search Concludes; Company Assures No Adverse Impact

Balu Forge shares surged 13% after an income tax department search concluded, snapping a nine-day losing streak. The company stated it fully cooperated, no incriminating documents were seized, and operations were unaffected, projecting no material adverse financial impact. Investor Ashish Kacholia holds a significant stake in the company, which has seen substantial long-term gains.