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25-Sep2017

Coffee Day Enterprises tumbles after IT department detects Rs 650 crore undisclosed income

Coffee Day Enterprises is currently trading at Rs. 207.70, up by 24.20 points or 10.44% from its previous closing of Rs. 231.90 on the BSE.

The scrip opened at Rs. 220.60 and has touched a high and low of Rs. 220.60 and Rs. 204.65 respectively. So far 49,000 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 276.85 on 16-May-2017 and a 52 week low of Rs. 190.50 on 27-Dec-2016.

Last one week high and low of the scrip stood at Rs. 246.90 and Rs. 204.65 respectively. The current market cap of the company is Rs. 4,278.00 crore.

The promoters holding in the company stood at 52.62%, while public held 47.38% respectively.

The Income Tax (IT) Department has concluded its search on the Coffee Day Group companies and detected undisclosed income worth over Rs 650 crore after four-day raids. The IT department is expecting the undisclosed income figures to be higher.

Search operations was conducted at premises of Cafe Coffee Day and its group companies across 25 locations in Bengaluru, Chikmaglur, Mumbai and Chennai, including the residence of Chairman and Managing Director V G Siddhartha.

Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India.



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