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Coffee Day Enterprises falls 12% after I-T raid

The stock slipped 12% to Rs 205 on BSE in intra-day deal, trading close to its 52-week low of Rs 191.

Girls sit at the window of a Cafe Coffee Day outlet in Mumbai,
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Girls sit at the window of a Cafe Coffee Day outlet in Mumbai,

SI Reporter Mumbai
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