In three days, the scrip has fallen by 42.36 percent on the BSE after some of the company’s officials were taken under judicial custody following a search by the Commissioner of Central GST and Customs.
On Monday, the company also informed the bourses about the cancellation of its board meeting, which was scheduled to be held on May 28, “due to unavoidable circumstances and also due to want of quorum during the board meeting.”
SBI Mutual Fund and Motilal Oswal Mutual Fund have the highest exposure (5.401% and 5.273% respectively) in the beleaguered Manpasand Beverages as at the end of the March quarter, according to the data on Value Research.
Source: Value Research Online
Commenting on MF holding in the company, a mutual fund manager said: “We will have to wait and watch. It is a black swan event for us. It is an unprecedented event. We are in limbo and not touching the stock now.”