Days Mover: Coffee Day emerges as the biggest gainer in ‘A Group

The stock enters the list of multibaggers for 2022.

Taking a cue from global markets, the domestic bourses witnessed positive sentiment. At the closing bell on September 13, the Sensex ended at 60,571.08, up by 0.8 per cent or 456 points. 

Coffee Day Enterprises zoomed 20 per cent in today’s session to emerge as the biggest gainer in BSE 'A' Group.

The shares of the company opened at Rs 55.95 and driven by strong momentum, quickly surged 20 per cent in the intra-day trades and was locked in the upper circuit for the rest of the trading session.

Coffee Day Enterprises is the parent company of the Coffee Day Group, which houses Cafe Coffee Day that pioneered the coffee culture in the chained cafe segment in India. The debt-laden company has taken steps to reduce the debt burden significantly. As on March 31, the consolidated debt stands reduced at Rs 1693 crore from the levels of Rs 7214 crore in FY 2018-19 as reported in the annual report.

However, the company has made certain defaults in repayments of principal and interest of the loans and certain lenders have exercised their rights including recalling the loans.

At today’s closing price of Rs 66.45, the stock has rallied 138 per cent on BSE with a 52-week high and low of Rs 86.70 and Rs 27.40, respectively.