With founder Siddhartha missing, will Cafe Coffee Day get sold to PE firms?

Experts say the counter will remain under pressure in the short-term till there is clarity on who runs the business

Reports of V G Siddhartha, co-founder of Café Coffee Day, going missing sent the stock of Coffee Day Enterprises spiralling down to hit the lower circuit filter of 20 per cent on Tuesday. If the reports of his demise are proven true, there could be more pain in store for the counter in the days ahead, analysts say. 

"Coffee Day Enterprises was more of a promoter-driven outfit. This business prospects and the stock will take a hit in the short-to-medium term, at least till the time there is clarity on the news development and how the business will be managed