look news india
Coffee Day Enterprises Limited Share: Shares of Coffee Day Enterprises Limited (CDEL), which operates the Cafe Coffee Day chain, have been suspended from today. The company, which is undergoing insolvency proceedings, on Tuesday (November 5) said stock exchanges have suspended trading in its securities under additional surveillance measures (ASM). This will come into effect from November 5, 2024. Let us tell you that on Monday the shares of the company closed at Rs 34.17. There was no trading in the company's shares today.
What did the company say?
As per the stock exchange filing, …We would like to inform you that as an additional surveillance (ASM) measure the stock exchanges have suspended trading in the securities of Coffee Day Enterprises Limited as it has gone into default due to insolvency and bankruptcy . The securities will be traded only once a week (every Monday or first trading day of the week) until the next review by the stock exchanges after a lapse of at least 1 month in IBC Phase I. Let us tell you that on August 8, 2024, the National Company Law Tribunal (NCLT) in Bengaluru is starting the Corporate Insolvency Resolution Process (CIRP) for CDEL.
what are the details
Let us tell you that the shares of the company were continuously falling. Shares of Coffee Day Enterprises Ltd have fallen 43% in six months. At the same time, the stock has fallen 47% so far this year and is down 30% in a year. The share price was Rs 348 on January 12, 2018, since then it has fallen by 90%. The company's stock reached its highest level in 52 weeks. 74.54 and 52 week low of Rs. It is 28.14. Its market cap is Rs. 722.06 crores.”,