Manpasand surges on dividend hopes

The stock of Manpasand Beverages surged on Thursday as the company's board considers dividend payout for FY18. The company's Q4 results will be announced on June 27.

Manpasand Beverages rose steadily during the morning half and was struck in its upper circuit limit in the afternoon session, after the company announced the date for its board meeting. The company's board meeting will approve Q4FY18 and full year 2018 results.

Due to resignation of its auditor in the end of May, the stock has seen very bad days off late. The company's auditor, Deloitte Haskins & Sells India had resigned before the declaration of results. The auditor cited lack of information as a reason for resignation.

The stock fell more than 60 per cent in a month. On Thursday, the stock closed at Rs. 142.35 per share, up by 4.98 per cent. It gained after four consecutive days of fall. Also, during the day, the stock touched a new 52-week low of Rs. 128.85, which was also its opening price.