Coffee Day surges over 2% after partnership with Uber

Coffee Day has entered into an agreement with peer-to-peer ride-sharing company Uber for a service called “UberEats.”

Jul 12, 2018 06:07 IST India Infoline News Service

Coffee Day has entered into an agreement with peer-to-peer ride-sharing company Uber for a service called “UberEats.” This will be a mobile application to enable the distribution of food products.

The contract will be valid for a period of five years.

The enterprise has diversified business interests and has derived 45% of revenue from the coffee business, 34% from the logistics business, and 15% from financial services. It is also the parent company of Café Coffee Day, which pioneered the coffee culture in the chained café segment in India.

It has a client base across Europe and Japan, making it one of the top exporters in the world. In India, it has branches in about 200 cities, with a portfolio that includes technology parks and SEZs, logistics, investments, financial services and hospitality.

The company is currently trading at Rs270 up by Rs5.95 or 2.25% from its previous closing of Rs264.05 on the BSE.

The scrip opened at Rs268.85 and has touched a high and low of Rs271.90 and Rs267.15 respectively. So far 1,53,285 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs5,578.10cr.

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