CCD shares tank 20% as founder goes missing

CCD shares tank 20% as founder goes missing

The shares of the Bengaluru-based retail café outlet Coffee Day Enterprises have tanked by the lower circuit of 20% on the Bombay Stock Exchange, as its founder V G Siddhartha goes missing.

The shares of the company touched a 52-week low of Rs 154.05 per scrip within the first 45 minutes of trade on BSE, down 19.99% from the previous close.

There were pending sell orders of 2,124,708 shares of the company, with no buyers available.

Siddhartha was reported missing since the night of July 29. The police said it has begun search operations.

Siddhartha got off his car at a bridge near the Nethravati River, near Mangaluru. The driver alerted family members after he didn't return for an hour.