Investor Porinju Veliyath has bought 6.6 lakh shares of Manpasand Beverages (approximately 0.58% of traded shares) in a bulk deal. Veliyath prefers stocks that are undervalued smallcaps or microcaps, but his portfolio took a hit in recent quarters due to his penchant for riskier investments. Three of Manpasand Beverages' directors resigned earlier this week, and the company's auditors resigned yesterday. 

Update: Porinju Veliyath clarifies on stock exchange filing, says bulk deal "could have been triggered" by a variety of factors including "fat finger"

Photo: Porinju on Twitter