Manpasand Beverages hit an intra-day high of Rs 128.55 on Wednesday, jumping almost 7 percent, continuing its stellar run from the last eight days. The smallcap FMCG stock has risen nearly 73 percent during the period.
The company that owns brands like MangoSip, Fruits Up, etc. had recently reported a 14.25 percent growth in revenue, which rose to Rs 164 crore in the quarter ended on December 2018. The company had reported Rs 143.13 crore in the corresponding period last year.
In the last one month, Manpasand Beverages shares have returned 58 percent. The FMCG stock was leading among gainers on BSE 500, which rose 0.25 percent.
However, the one-year return on Manpasand Beverages remains negative with the stock correcting by over 67 percent.
Manpasand Beverages had seen extreme selling in 2018 because of corporate governance concerns that arose after its auditor resigned unexpectedly. The company is placed under Stage 1 of the ASM Short Term framework as a pre-emptive surveillance measure by the market regulator SEBI.
At 9.43 am, Manpasand Beverages was quoted at Rs 127 per share, trading higher by 5.66 percent.
The S&P BSE Sensex was trading higher by almost 81 points, or 0.22 percent, at 37,616. The broader NSE Nifty50 also surged 22 points to trade at 11,323.
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