Shares of Solar energy solutions provider Waaree Energies Ltd. fell up to 6% in early trading on Wednesday, November 19, after the company informed the exchanges that officials from the Income Tax Department visited some of the company’s offices and facilities in India to conduct an investigation under the Income Tax Act, 1961.

The announcement was made after market hours on Tuesday.

"We hereby inform that today certain officials of the Income Tax Department visited some of the Company’s offices and its facilities in India for conducting an investigation under the Income Tax Act, 1961," according to a stock exchange filing.

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The company said the proceedings are currently underway

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