 "Coffee Day Enterprises falls 12% after I-T raid")
Coffee Day Enterprises slipped 12% to Rs 205 on BSE in intra-day trade after the income tax (I-T) department conducted search operations at company’s promoter and chairman V G Siddhartha house. The stock was trading close to its 52-week low of Rs 191 touched on December 27, 2016 on BSE in intra-trade deal.
“The Search/Survey under section 132/133A was carried out by the Income Tax authorities on the Company & its subsidiaries starting 21st September 2017 & ending 24th September 2017,” Coffee Day Enterprises said in a regulatory filing.
We have extended full co-operation to the Income Tax Authorities. Further, we submit that there is no information discovered which would have a significant impact on the financial position of Coffee Day Enterprises and its subsidiaries, it added.
At 02:06 PM; the stock was trading down 10% at Rs 208 on BSE, as compared to 1.35% decline in the S&P BSE Sensex. A combined 607,905 shares changed hands on the counter on BSE and NSE.
“The Search/Survey under section 132/133A was carried out by the Income Tax authorities on the Company & its subsidiaries starting 21st September 2017 & ending 24th September 2017,” Coffee Day Enterprises said in a regulatory filing.
We have extended full co-operation to the Income Tax Authorities. Further, we submit that there is no information discovered which would have a significant impact on the financial position of Coffee Day Enterprises and its subsidiaries, it added.
At 02:06 PM; the stock was trading down 10% at Rs 208 on BSE, as compared to 1.35% decline in the S&P BSE Sensex. A combined 607,905 shares changed hands on the counter on BSE and NSE.
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