Café Coffee Day share price plunges 20 percent

Café Coffee Day share price plunges 20 percent

Agency News

Shares of Café Coffee Day(CCD) Enterprises plunged 20% for second straight day after the body of Coffee Day Enterprise MD and Chairman VG Siddhartha was recovered from Netravathi river on Wednesday morning. The market sentiment was overwhelmed with the fear over the confirmation of the departure of VG Siddharta who found and led the company to newer heights. The shares opened on Wednesday at Rs 154.05 and shredded 20% more to hit another all-time low of Rs 123.25 on BSE.

On NSE, the stock has hit Rs 122.75.Hitting a historical low for the stock, the overall loss in 2 consecutive days were 37%. The market capitalisation has reduced to Rs 2,603.68 crore from Rs 3,254.33 crore on Tuesday. On Monday, the market capitalisation of Coffee Day Enterprises stood at Rs 4067.65 crore, prior to reports of Siddhartha going missing. Coffee Day's market capitalisation was at its peak on September 19, 2018, at Rs 6,678 crore.