Kwality surges 5% despite deferring Q2 earnings

Shares of Kwality were trading 5 per cent higher in early trade on Thursday even as the company said it could not finalise financial results within the stipulated period due to change of auditors caused by resignation of statutory auditors M/s MSKA & Associates Chartered Accountants.

The board of directors have filled the casual vacancy, by inducting B. Rattan & Associates, Chartered Accountants, who require a reasonable time for completion of audit works, the company said.

The scrip was trading 5 per cent up at Rs 9.66 at around 09.35 am, while the benchmark BSE Sensex was up 0.36 per cent at 35,327.59.

The shares of Kwality opened at Rs 9.49 on BSE against its previous closing of Rs 9.20.