Coffee Day’s share price fell more than 19% on Monday after the corporate dispute tribunal National Company Law Tribunal (NCLT) ordered the start of bankruptcy proceedings against Coffee Day Enterprises Ltd, the parent company of Coffee Day Group, which operates the Cafe Coffee Day chain of coffee houses.
The BSE opened today’s Coffee Day share price at Rs 38. The stock saw an intraday low of Rs 37.55 and a high of Rs 41.05 per share. Coffee Day’s stock was among the worst performances on the Sensex.
As per Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Coffee Day’s share price has been an underperformer and has fallen further today, sinking more than 14% at the opening on high trading volume.
As of 10:55 am, Coffee Day Enterprises shares were trading 16.33 lower at Rs 38.99 on the NSE.
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