Eveready shares crack 5%, hit lower circuit

NEW DELHI: Shares of Eveready Industries India (EIIL) cracked 5 per cent to hit lower circuit limit at Rs 76 in morning trade on Monday after Price Waterhouse & Co Chartered Accountants LLP resigned as auditor of the firm.

Price Waterhouse & Co Chartered Accountants LLP, a network firm of PwC India, has resigned as the auditor of EIIL citing few transactions relating to inter-company deposits.

ET reported, quoting sources, that PwC had sought details of certain deposits and questioned EIIL about how the company wishes to recover these.


These transactions would now be scrutinised by the incoming auditor and will have to question EIIL about the same. This, unless the company makes the required adjustments in their books before the financial results are declared.

EIIL on Saturday told the capital markets that Singhi & Co, Mumbai based audit firm, has replaced PwC as the auditor.