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  Business   Companies  01 Aug 2019  Coffee Day Enterprises shares tank another 10 pc; hit lowest trading for 3rd day

Coffee Day Enterprises shares tank another 10 pc; hit lowest trading for 3rd day

PTI
Published : Aug 1, 2019, 12:50 pm IST
Updated : Aug 1, 2019, 12:50 pm IST

In three days, the shares have fallen by over 42 per cent on the BSE, eroding Rs 1,723.16 crore from its market valuation.

The scrip tanked 10 per cent to Rs 110.95 -- its lower circuit limit as well as its 52-week low -- on BSE.
 The scrip tanked 10 per cent to Rs 110.95 -- its lower circuit limit as well as its 52-week low -- on BSE.

New Delhi: Shares of Coffee Day Enterprises further plummeted 10 per cent to hit its lowest trading permissible limit for the day on Thursday as investor sentiment remained hit for the third consecutive trade amid slew of negative news surrounding the company.

The scrip tanked 10 per cent to Rs 110.95 -- its lower circuit limit as well as its 52-week low -- on BSE. At NSE, shares dropped 10 per cent to touch its lowest trading permissible limit as also its one year low of Rs 110.50. In three days, the shares have fallen by over 42 per cent on the BSE, eroding Rs 1,723.16 crore from its market valuation.

 

The market cap of the company on Thursday stood at Rs 2,343.84 crore. VG Siddhartha, the chairman of Coffee Day Enterprises, was found dead on Wednesday.

Coffee Day Enterprises on Wednesday named independent director S V Ranganath as the interim chairman of the company to replace its founder VG Siddhartha, who was confirmed dead, days after he went missing. Meanwhile, the BSE on Wednesday revised the circuit limit of the company to 10 per cent.

Tags: coffee day enterprises, shares, revenue, café coffee day, vg siddhartha
Location: India, Delhi, New Delhi