IT Searches at Prime Focus, Shares Fall Nearly 8 Percent
Income Tax officials searched the offices of Prime Focus in October 2026. The action took place over two days.
Prime Focus is the VFX company founded by Namit Malhotra. Its group company DNEG is handling the effects for Ramayana.
Following the searches, the company's shares fell nearly 8 percent. Investors reacted to the news of the tax action.
The company is linked to the Rs 4,000 crore Ramayana project. The two-part epic is among India's costliest films.
Officials have not shared details of the searches. The company has not issued a detailed statement so far.
Tax searches do not by themselves imply wrongdoing. They are part of the department's verification process.
Prime Focus has grown into a global VFX player. DNEG has won multiple Academy Awards for visual effects.
The market will watch for further disclosures. The share price movement reflects short-term investor caution.
The company is expected to clarify the matter to stock exchanges. Investors will watch for any official statement in the coming days.
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