Shares of Coffee Day Enterprises, which owns the Cafe Coffee Day chain, on Monday jumped 20 per cent to hit its upper circuit limit after the National Company Law Appellate Tribunal (NCLAT) set aside the insolvency proceedings against the company. The stock of Coffee Day Enterprises Ltd (CDEL) zoomed 19.97 per cent each to INR 25.65 and INR 25.53 apiece — also its 52-week high — on the BSE and National Stock Exchange (NSE), respectively.
In the past four consecutive sessions, the stock has been locked at five per cent lower circuit.
The market is trading in the negative territory with the BSE Sensex declining 360.20 points or 0.49 per cent to…
