The company has been seen as low on governance. The stock is likely to remain under pressure,” said Abneesh Roy, senior vice-president-institutional equities at Edelweiss Securities.The stock listed on the bourses in July 2015 with its IPO price (adjusted) at Rs 160. The stock trebled to a lifetime high of Rs 511.83 in September 2017. Manpasand on its part had termed the timing of this event as purely coinciental.Baliga said the company’s turnover was under question even before Deloitte quit as auditor last year. One should invest in safer bets such as Hindustan Unilever , ITC, and Nestle India to bet on the consumer space, said Baliga.

Source: Economic Times May 28, 2019 02:48 UTC