The Mindtree stake sale is not the caffeine kick Coffee Day needs
Coffee Day shares have fallen 7% despite the Mindtree stake sale to L&T coming at a better-than-expected valuation
A good outcome of the deal with L&T will be if the Mindtree stake sale is a stepping stone towards Coffee Day's restructuring
Coffee Day Enterprises Ltd’s shares should have got a boost after the company said it will sell its stake in Mindtree Ltd. But that hasn’t been the case. The stock has fallen 7% since the deal was announced on 18 March after market hours. This is despite the fact that the deal has come in at a better-than-expected valuation.
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