CCD investors lose Rs 813 crore in markets

CCD investors lose Rs 813 crore in markets

V G Siddhartha. AFP file photo

The investors of Coffee Day Enterprises have lost Rs 813.3 crore during the day’s trade, as its founder, V G Siddhartha has gone missing in Mangaluru and is suspected to have committed suicide.

The company’s market capitalisation fell to Rs 3,254.33 crore from during the day’s trade, from yesterday’s  Rs 4,067.7 crore, a drop of 20%.

Coffee Day Enterprises' stock price formed a gap down chart pattern today and started the day at a loss of 19.99% or 38.50 points at Rs 154.05 on BSE, also the stock's all-time and new 52 week low.

There are only sellers in the stock with pending sell orders worth 23,39,298 shares on BSE and 85,99,029 shares on NSE and no buyers standing. Volume-wise, 108,414 shares (including BSE and NSE) trade on the bourses.

VG Siddhartha's stake in Cafe Coffee Day stands at 32.75%, of which 71.4% or 4.93 crore shares are pledged. Debt-wise, the borrowings of CCD have spiked by 63.54%, from Rs 4,003.47 crore on March 18 to Rs 6547.38 crore in March 2019.