{"id":80081,"date":"2018-05-28T10:05:46","date_gmt":"2018-05-28T10:05:46","guid":{"rendered":"http:\/\/www.bnreport.com\/down-and-out-this-stock-hit-lower-circuit-for-25th-session-in-a-row\/"},"modified":"2018-05-28T10:05:46","modified_gmt":"2018-05-28T10:05:46","slug":"down-and-out-this-stock-hit-lower-circuit-for-25th-session-in-a-row","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/down-and-out-this-stock-hit-lower-circuit-for-25th-session-in-a-row\/","title":{"rendered":"Down and out! This stock hit lower circuit for 25th session in a row"},"content":{"rendered":"

NEW DELHI<\/a>: The ordeal of Mumbai-based technology company Vakrangee<\/a> just doesn't seem to get over. <\/p>\n

On Monday, the stock hit lower circuit limit for the 25th session in a row. The stock has lost over 70 per cent since it last closed in the green on April 20. <\/p>\n

On that day, the share price read Rs 135.75, which is now down to Rs 39.95 as of Friday's close. At 02:45 pm, the stock was locked in lower circuit limit of 5 per cent at Rs 38 on the BSE<\/a>. <\/p>\n

Earlier this month, auditing major Price Waterhouse quit audit<\/a> mandate of the firm. It flagged concerns to the corporate affairs ministry about the books of accounts, mainly related to the company's bullion and jewellery business. <\/p>\n

The e-service provider appointed AP Sanzgiri & Co as statutory Auditors for FY18 until the conclusion of the annual general meeting (AGM) to fill the casual vacancy caused due to the resignation of Price Waterhouse. <\/p>\n

For its retail outlets called 'Vakrangee Kendra' and billed as the 'One-stop shop' to avail of various services and products, the company was in talks with some big jewellers and banks, but many of those couldn't fructify, PTI reported. <\/p>\n

This apart, Vakrangee is being probed by the Securities and Exchange Board of India<\/a> (Sebi) about alleged disclosure and corporate governance lapses, regulatory and government officials said. <\/p>\n

<\/a><\/strong> <\/a><\/p>\n

Original Article<\/a><\/p>\n

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ET Markets<\/a><\/h5>\n

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