Coffee Day rises as promoter hikes stake

Coffee Day Enterprises rose 1.27% to Rs 322.50 at 10:47 IST on BSE after promoter Malavika Hedge purchased bulk shares of the company yesterday, 26 February 2018.

Meanwhile, the S&P BSE Sensex was down 31.96 points or 0.09% at 34,413.79. The S&P BSE Mid-Cap index declined 0.12%, underperforming the Sensex.

On the BSE, 45,000 shares were traded on the counter so far as against average daily volumes of 50,999 shares in the past one quarter. The stock had hit a high of Rs 326.10 and a low of Rs 315.40 so far during the day. The stock had hit a record high of Rs 374.60 on 22 January 2018 and a 52-week low of Rs 204.65 on 25 September 2017.

The stock had underperformed the market over the past one month till 26 February 2018, sliding 7.78% compared with the Sensex's 4.45% fall. The stock had, however, outperformed the market over the past one quarter, advancing 38.55% as against the Sensex's 2.28% rise. The scrip had also outperformed the market over the past one year, surging 37.12% as against the Sensex's 19.22% rise.

The mid-cap company has equity capital of Rs 211.25 crore. Face value per share is Rs 10.

KKR Mauritius PE Investments II offloaded 1.25 crore shares of Coffee Day Enterprises at an average price of Rs 324.36 per share in a bulk deal on the NSE on 26 February 2018. Promoter Malavika Hedge bought 55 lakh shares at Rs 324 per share.

Malavika Siddhartha Hedge owned 1.44% in Coffee Day Enterprises while KKR Mauritius PE Investments II controlled 10.33% stake end December 2017.

On a consolidated basis, Coffee Day Enterprises' net profit rose 56.8% to Rs 31.20 crore on 26.5% growth in net sales to Rs 965.30 crore in Q3 December 2017over Q3 December 2016.

Coffee Day Enterprises is the parent company of the Coffee Day Group which houses the coffee selling restaurants CafCoffee Day.

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