Manpasand Beverages locked in 20% lower circuit after co cancels Board meet, changes auditor

Manpasand Beverages was locked in 20 percent lower circuit as investors reacted to two corporate developments—resignation of its auditor and Board meeting on May 30 being cancelled.

The stock touched an intraday high of Rs 345.00 and an intraday low of Rs 344.80.

The company on Monday informed the NSE that a Board meeting, scheduled on May 30, 2018, which was supposed to consider results as well as dividend issue, was cancelled.

Additionally, the company also told BSE on Sunday that its auditor Deloitte Haskins and Sells had resigned from the firm with immediate effect. It subsequently appointed M/s Mehra Goel and Co as the auditor of the firm.

At 10:38 hrs Manpasand Beverages was quoting at Rs 344.80, down Rs 86.20, or 20.00 percent. It touched a 52-week low of Rs 344.80.