Manpasand Beverages shares continue to fall; tank 36 pc in two days after officials' arrest

Shares of Manpasand Beverages extended their losses for the second consecutive day, tumbling 36 per cent in two trading sessions after some of its officials were taken under judicial custody following search by the GST department.

On the BSE, shares of the company plunged 20 per cent to lock in at its lower circuit limit of Rs 70.40.

At the National Stock Exchange (NSE), the scrip tumbled 19.98 per cent to touch the lower circuit of Rs 70.50.

On Monday, the scrip dived 20 per cent to close at Rs 88 on the BSE.

In a BSE filing on Saturday, Manpasand Beverages had said that the Commissioner of Central GST and Customs carried out search and seizure proceedings at various premises of the company on May 23 and further inquiry was conducted on May 24 at GST Bhavan office of Vadodara.

"Mr Abhishek Singh, Whole Time Director, Mr Paresh Thakkar, Chief Financial Officer of the company and Mr Harshvardhan Singh are under judicial custody of Authority on May 24, 2019. The company is contesting ...