Manpasand shares tank 48% in four days

New Delhi: Continuing its losing spree, Manpasand Beverages stock on Thursday fell nearly 10 per cent, taking its overall four-day loss to 48 per cent after some of the company's officials were taken under judicial custody following a search by the Commissioner of Central GST and Customs.

The scrip of the company tumbled 9.94 per cent to close at Rs 57.10 - its 52-week low as well as lower circuit limit - on the BSE on Thursday. On the NSE, stock nosedived 9.92 per cent to close at Rs 57.15 - its one-year low and also lower circuit.

In a statement on Saturday, Manpasand Beverages had said 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.

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