The stock of Coffee Day Enterprises is up 70 per cent in the last 7-days. On Monday, the stock began the week with robust gains of 6 per cent during the course of trading day, following from the previous week’s gains, Good Returns reported.
The company’s shares are now at Rs 72.35, very close to its 52-week high. The stock gained on Monday by a whopping 6 per cent and was up another 3 per cent on Tuesday morning.
The shares had plunged to a 52-week low of Rs 20 and has now more tripled in value since then. Cafe Coffee Day is a very popular Indian multinational chain of coffeehouses. It is a subsidiary of Coffee Day Enterprises.
“We hereby inform/confirm you that to the best of our knowledge that we do not have any events, information, etc., that have a bearing on the operation/performance of the company or any other price sensitive information. Therefore, the movement in price of shares of the Company is purely due to market conditions and absolutely market driven and the Management of the Company is in no way connected with any such movement in price of share,” the management said recently in a clarification to the BSE.