Stock Market

Everest Kanto Cylinders plunges 12% on fraud allegation by ex-CFO

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Shares of Everest Kanto Cylinders plunged over 12 per cent after CNBC TV18 reported that the company’s lenders have moved towards conducting forensic audit into its books after allegations of fraud or siphoning of fund levelled by ex-CFO. The scrip closed 12.29 per cent down at Rs 41.05, whereas BSE Sensex closed 0.39 per cent down at Rs 35,599. The company in its clarification to the exchanges said: “We have not received any communication from any lender with respect to forensic audit.” “The exchange has advised the company to provide clarification or confirmation on the news item in detail including the following: a) Whether you/company are aware of any information that has not been announced to the exchanges which could explain the aforesaid movement in the trading.

The response from the company is awaited,” NSE notification had said earlier.




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Category: Stock Market


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