Coffee Day Enterprises arm to acquire majority equity stake in cos

India Infoline News Service | Mumbai | May 15, 2017 11:23 IST

Coffee Day Enterprises’ subsidiary Sical Logistics Limited in its Board Meeting held on 12 May 2017 have approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 Cr and to execute necessary agreements to proceed further in this regard, said Coffee Day Enterprises in a BSE filing on 13 May 2017.

Logistics storehouse
Coffee Day Enterprises’ subsidiary Sical Logistics Limited in its Board Meeting held on 12 May 2017 have approved the proposal to initiate the process to acquire majority equity stake in a company in the express logistics business with an annual revenue of Rs 40 Cr and to execute necessary agreements to proceed further in this regard, said Coffee Day Enterprises in a BSE filing on 13 May 2017.

The Board of Directors of the subsidiary also approved the proposal to initiate the process to acquire a majority stake in a company in warehousing and distribution business with an annual revenue of Rs 20 Cr and to execute necessary agreements to proceed further in this regard, it also said.

The stock of Coffee Day Enterprises is trading up by nearly 2% on Monday, 15 May 2017 on the BSE.
 
Stock view -
 
Coffee Day Enterprises Ltd is currently trading at Rs 263.95, up by Rs 6.3 or 2.45% from its previous closing of Rs 257.65 on the BSE.
 
The scrip opened at Rs 258 and has touched a high and low of Rs 267 and Rs 258 respectively. So far 90354(NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs 5307.63 crore.
 
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 276.9 on 20-May-2016 and a 52 week low of Rs 190.5 on 27-Dec-2016. Last one week high and low of the scrip stood at Rs 269.9 and Rs 248 respectively.
 
The promoters holding in the company stood at 52.62 % while Institutions and Non-Institutions held 6.35 % and 41.03 % respectively.
 
The stock is currently trading above its 50 DMA.


***Note: This is a NSE Chart

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