NEW DELHI: Shares of Coffee Day Enterprises fell 1 per cent in Mondays trade after ET NOW reported that Cafe Coffee Day (CCD) was planning to restructure its business by demerging all non-coffee businesses into a separate arm.
The restructuring may be announced along with the Q2 earnings, ET Now reported.The company is expected to announce its results for September quarter on November 14.The stock fell 0.93 per cent to hit a low of Rs 283 on the BSE.The restructuring will be aimed at ensuring better valuations for the coffee business, ET NOW reported.At present, logistic, IT, financial services and hospitality businesses of the company come under one business.
The non-coffee businesses could be housed and listed as a separate entity.