Dilip Buildcon plunges 14.5%

There is a sense of disquiet among traders following the resignation of statutory auditors of Manpasand and prior to that, of Vakrangee. Rumour mongers are busy and today there was unconfirmed news that even the auditors of Dilip Buildcon have resigned. The stock price slumped 14.5% to Rs.901.10; it has recovered but remains in the deep red, despite clarifications from the company.

The company did issue a statement saying that there was no truth in this rumour, yet the market remained suspicious and refused to accept the company’s clarification.

The company has stated, “The company has already declared Audited Financial Results for the Financial Year 2017-18 on May 30, 2018 and M/s Mukund M. Chitale & Co., Chartered Accountants, Mumbai and M/s MSG & Associates, Chartered Accountant, Bhopal, Joint Statutory Auditors of the Company have issued the Auditors' Report for the Financial year ended March 31, 2018 with unqualified opinion in respect of the Standalone and Consolidated Financial Results, the copies of which has already been submitted to the Stock Exchanges. 

We therefore wish to confirm that there is no truth in the matter and the rumors are baseless. We further attach the confirmation received from our Joint Statutory Auditors regarding continuing as Statutory Auditors of the Company uninterruptedly.”