Manpasand derails 20 per cent as auditor resigns
The stock of Manpasand Beverages extended its losing streak on Monday and has been losing for the last four days and has fallen by 22.67 per cent in the period. The fall was triggered by the resignation of its auditor Deloitte Haskins & Sells.
The stock touched a new 52-week low of Rs. 344.80 per share, which is also its lower circuit limit. The stock opened with a gap down of 19.95 per cent. The stock remain struck in lower circuit with no buyers at Rs. 344.80, down 20 per cent.
The company notified the exchanges that Deloitte Haskins & Sells, Chartered Accountants, Vadodara, who were the Statutory Auditors of Manpasand Beverages had resigned with effect from May 26, 2018 and the company has now appointed M/s. Mehra Goel & Company as auditors.
Earlier, the company had announced that the Board of Directors will be meet on Wednesday, May 30, 2018. This change of auditors comes just three days ahead of its full-year results declaration.
Manpasand Beverages is a pure-play fruit juice beverage company. The company's popular brands include Mango Sip, Fruits Up, X-Cite and ORS. The stock has been a favourite among small cap investors and brokerages.