Manpasand Beverages shares plummet 50% in 3 days; here's why
Investors have been pressing the sell button on Manpasand Beverages after the CGST and Customs arrested the company's MD Abhishek Singh and CFO Paresh Thakkar on allegation of creating fake company units and committing tax invasion

- May 29, 2019,
- Updated May 29, 2019 2:34 PM IST
Shares of Manpasand Beverages witnessed heavy selling pressure in the last three trading sessions, correcting by 50 per cent, after the fruit juice maker came under scrutiny over corporate governance, which led to arrest of its top executives. Investors have been pressing the sell button on Manpasand Beverages after the Commissioner of Central GST (CGST) and Customs on Friday arrested the company's managing director (MD) Abhishek Singh and Chief Financial Officer (CFO) Paresh Thakkar on the allegation of creating fake company units and committing tax evasion of Rs 40 crore.
Extending its losses for the third straight session, Manpasand Beverages share price locked at the 10 per cent lower circuit at Rs 63.40 on the Bombay Stock Exchange on Wednesday. The stock had tumbled 20 per cent to Rs 70.40 per share on Tuesday.
On the National Stock Exchange, Manpasand shares were locked at 10 per cent lower circuit at Rs 63.45 apiece against previous close level of Rs 70.50.
According to market experts, investors holding the stocks of Manpasand Beverages should cut their losses short and exit the scrip.
Shares of Manpasand Beverages witnessed heavy selling pressure in the last three trading sessions, correcting by 50 per cent, after the fruit juice maker came under scrutiny over corporate governance, which led to arrest of its top executives. Investors have been pressing the sell button on Manpasand Beverages after the Commissioner of Central GST (CGST) and Customs on Friday arrested the company's managing director (MD) Abhishek Singh and Chief Financial Officer (CFO) Paresh Thakkar on the allegation of creating fake company units and committing tax evasion of Rs 40 crore.
Extending its losses for the third straight session, Manpasand Beverages share price locked at the 10 per cent lower circuit at Rs 63.40 on the Bombay Stock Exchange on Wednesday. The stock had tumbled 20 per cent to Rs 70.40 per share on Tuesday.
On the National Stock Exchange, Manpasand shares were locked at 10 per cent lower circuit at Rs 63.45 apiece against previous close level of Rs 70.50.
According to market experts, investors holding the stocks of Manpasand Beverages should cut their losses short and exit the scrip.