Coffee Day brews up gains on reports Coca Cola may buy stake

The Coffee Day stock saw a smart rally in trade on reports Coca-Cola, has begun intial talks for a substantial stake buy in Cafe Coffee Day . While a Coca-Cola India spokesperson said the news about a possible acquisition was speculative in nature, Cafe Coffee Day also declined to comment. Coca-Cola has been looking to plug into the Rs 2,500-crore domestic coffee retail market and it had acquired UK-based Costa Coffee for $5.1 billion a few months back.