Sensex falls 300 pts, all sectoral indices in red; Coffee Day tanks 10%

CafeCoffeeDay

Equity benchmarks continued to reel under under pressure as the Sensex was down 322.87 points or 1.01 percent at 31,599.57, and the Nifty down 107.50 points or 1.08 percent at 9,856.90.

Weakness in Coffee Day Enterprises, the operator of Café Coffee Day chain, continued as the stock fell over 10.5 percent intraday. Investors turned cautious of the stock on the back of a media report, which hinted to issues relating to undisclosed income.

According to a media report, Income Tax (I-T) Department has detected undisclosed income worth over Rs 650 crore linked to the group after four-day raids.

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