Manpasand Beverages stocks crash 20% after auditor's resignation ahead of Q4 result

Shares of Manpasand Beverages crashed on Monday after Deloitte Haskins and Sells resigned as auditor ahead of the company’s quarterly results scheduled to be released on Wednesday.

The scrip tumbled 20 per cent to Rs 344.80.

“Subsequent to resignation of Deloitte Haskins & Sells, Chartered Accountants, Vadodara, the Statutory Auditors of the Company with effect from May 26, 2018, the Board of Directors of the company upon the recommendation of the Audit Committee, have appointed M/s. Mehra Goel & Co., Chartered Accountants, New Delhi, as Statutory Auditor of the Company with effect from 27th May 2018 to fill the casual vacancy in the office of Statutory Auditors,” the company in BSE filing said.

Shares of the company had scaled 52-week high of Rs 511.83 on September 15, 2017 and 52-week low of Rs 344.80 on May 28, 2018.

The BSE Sensex was trading 265 points, or 0.76 per cent, up at 35,190 in the afternoon trade on Monday.