Sical and CCD in the limelight

Some good news from the CCD or Café Coffee Day and its holding company.

Tanglin Realty, a group company of CCD holds majority stake in Sical Logistics. In 2010, CCD owner, V.G. Siddhartha acquired majority control in Sical from the AC Muthiah’s SPIC group for around Rs200 crore. The news is that Tangling Retail has released pledge on 4.72% shares pledged. Promoters stake in Sical stands at 62.20% wherein Tanglin holds 52.83% stake.

On the other hand, in CCD or Coffee Day Enterprises as it is listed, pledged 2.61% stake. This was one of the group companies, Coffee Day Consolidation, which has a 5.96% stake.

The market is happy with the release of pledge in both the companies and does not seem too perturbed about the pledged shares in CCD. Sical Logistics went up almost 3% to Rs.209.40 and CCD rose over 2% to Rs.202.50 but is now barely holding onto the green, less than 0.5% up.