- Coffee Day Enterprises shares fall 20%
- The body of company chairman VG Siddharth was found in the Netravati river in Mangalore, missing on Monday.
Mumbai. The stock market ended trading on Wednesday after day-long fluctuations. The Sensex gained 83.88 points to end at 37,481.12. It had touched an upper of 37,576.37 and a low of 37,128.26 in intra-day. The Nifty closed 32.60 points up at 11,118. During the business, it had reached a high of 11,145.30 and a low of 10,999.40.
Sensex’s 21 and 30 of the Nifty’s 50 stocks ended with gains. 8 out of 11 sector indices were on the NSE. The metal index gained the most by 2.3%. On the other hand, the media index was the biggest loser at 2.9%.
Nifty’s top-5 gainer
Nifty’s top-5 losers
On the BSE, the stock of Coffee Day Enterprises fell lower circuit to 19.12% at Rs 123.25. It was down 19.98% at Rs 122.75 on the NSE. Trading was stopped due to the lower circuit limit being applied on both exchanges. The sale of the stock has increased due to the case of company chairman VG Siddharth. Siddharth’s body was found in the Netravati river in Mangalore on Wednesday morning. They went missing on Monday. On 27 July, in a letter to the staff, he said that despite the best efforts, he failed to develop a profitable business model. Struggled for a long time but could not bear the pressure anymore. The Siddharth letter also mentioned the pressure from an equity partner, lenders and the Income Tax Department. In 2017, Siddharth had 20 income tax raids. His shares were also attached this year. However, the Income Tax Department said in a press release on Tuesday that action was taken against Siddharth as per rules.