Stocks

Coffee Day Enterprises plunges to fresh low on delayed results

Reuters August 5 | Updated on August 05, 2019 Published on August 05, 2019

Shares of Coffee Day Enterprises Ltd fell by 9.95 per cent daily limit to a record low of Rs 89.55. The company on Friday said it will not consider financial results for the June quarter at its August 8 board meet due to “certain unavoidable circumstances”.

The company says it does not expect preparation of quarterly financial results to be completed by the stipulated time, plans to extend date of submission with the stock exchanges.

The company said in a separate statement that independent director Sulakshana Raghavan had resigned due to personal reasons.

The Coffee Day stock is down for the ninth straight session; it has lost 64.3 per cent this year up to last close.

Published on August 05, 2019
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