India's Unichem Labs falls after tax demand appeal rejected

Shares of India's Unichem Laboratories fell 2.51% to 532 rupees after the company said a tax authority rejected its appeal in a case involving a penalty of 870.7 million rupees and interest liability of 65.9 million rupees. The case relates to alleged delayed payment of tax on supplies. Unichem said it will take appropriate remedial steps, adding the order will have no material impact on its financials or operations.