InvestorQ : With VG Siddhartha missing, what is the future of Cafe Coffee Day(CCD)?
Chandralekha Desai made post

With VG Siddhartha missing, what is the future of Cafe Coffee Day(CCD)?

Answer
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Neha Samdani answered.
1 year ago


Cafe Coffee Day(CCD) stock has drastically sloped nearly 37% in two days. The capitalisation of the company is sloped from 4067.65 crore on the first day of the missing event. It continued to reduce from to Rs 2,603.68 crore from Rs 3,254.33 crore (approx.) on the 2nd day of the incident i.e., 30th July 2019.

Coffee Day Enterprises' share is trading low. Stocks fall over 50% in the last 6 months and over 38% in a week on both the bourses.

Eventually, after serious investigation and government intervention in the case, Coffee Day Enterprise MD and Chairman VG Siddhartha's has been declared dead after the body was recovered from Netravathi river today.
VG Siddhartha was known for his best times as an entrepreneur. However, the company faced its worst time due to repetitive dues and unpaid debt.

Coming to your question of the company's chairman take over. CCD has appointed SV Ranganath as the interim chairman of the board.
Nitin Bagmane was named as an interim chief operating officer of the company but currently kept on hold with the board for approval.

I would conclude, by recommending all the CCD investors do not panick and sell your shares. If you are planning to buy, I would not suggest to buy now as the management decision is yet to be declared.