Manpasand Beverages zooms post increase in FII investment limit
Tanay Loya / 14 Dec 2017
Manpasand Beverages was soaring on the bourses on Thursday after RBI allowed the FIIs to increase stake in the company. The stock added almost 10 per cent intraday Thursday on NSE.
Manpasand Beverages was soaring on the bourses on Thursday after RBI allowed the FIIs to increase stake in the company. The stock added almost 10 per cent intraday Thursday on NSE.
Reserve Bank of India has increased the foreign investment limit for the investment by Foreign Portfolios Investors in the company to 49 per cent from the earlier 24 per cent of its paid up capital.
Manpasand Beverages Limited is engaged in the business of manufacturing of fruit drink products with a primary focus on mango fruit. It owns brands such as MangoSip, Fruits Up, Manpasand ORS, and Pure Sip.
At 10:15 hours, Manpasand Beverages was trading at Rs. 404.20, up Rs. 32.25, or 8.67 per cent on the NSE. The scrip opened at Rs. 389.50 and touched a high and low of Rs. 409.00 and 388.00, respectively. The share touched its 52-week high of Rs. 511.83 and 52-week low of Rs. 265.53 on 15 September, 2017 and 26 December, 2016, respectively. The stock attracted a traded volume of 9,94,003 shares on NSE.
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