Coffee Day Enterprises hit a 5% upper circuit to Rs 76.40 at 15:26 IST, extending recent gains.Shares of Coffee Day Enterprises surged 21.36% in four trading sessions to its current market price of Rs 76.40, from a recent closing low of Rs 62.95 on 16 August 2019.
The recent rally was triggered by rumors that ITC may purchase stake in Coffee Day Enterprises. However, ITC clarified after the market hours yesterday, 21 August 2019, that on an ongoing basis it receives enquiries from market participants which are suitably evaluated. One such enquiry was also received from an intermediary on Cafe Coffee Day. However, no progress has been made on the matter.
On BSE, 7.3 lakh shares were traded in Coffee Day Enterprises counter, compared to a 2-week average of 5.34 lakh shares. The stock hit an intraday high of Rs 76.40 and an intraday low of Rs 75.
It hit a 52-week high of Rs 325 on 21 September 2018 and a 52-week low of Rs 62.95 on 16 August 2019.
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