The stock of Coffee Day Enterprises is up 70% in the last 7-days. On Monday, the stock began the week with robust gains of 6% during the course of trading day, following from the previous weeks gains.
Shares now close to 52-week high
The company's shares are now at Rs 72.35, very close to its 52-week high. The stock gained on Monday by a whopping 6% and was up another 3% on Tuesday morning.
The shares had plunged a to a 52-week low of Rs 20 and has now more tripled in value since then. Café Coffee Day is a very popular Indian multinational chain of coffeehouses. It is a subsidiary of Coffee Day Enterprises.
What's leading the stock higher?
Well, for starters we do not know what is leading the stock of Coffee Day Enterprises higher. "We hereby inform/confirm you that to the best of our knowledge that we do not have any events, information etc that have a bearing on the operation/performance of the company or any other price sensitive information. Therefore, the movement in price of shares of the Company is purely due to market conditions and absolutely market driven and the Management of the Company is in no way connected with any such movement in price of share," the management said recently in a clarification to the BSE.
The company according to unconfirmed reports is managing to reduce its debt and the present people at the helm are working hard to turnaround the company.
The shares are doing well and the shareholders too seem to be gaining.
Investing in equities is risky and investors must therefore understand the risk. The author and Greynium Information Technologies Pvt Ltd would not be responsible for any losses caused based on the article. The author and is family do not hold shares in the above company viz: Coffee Day Enterprises.