Exit Coffee Day Enterprises, says Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "Coffee Day has a number of footfalls which are much higher than its competitors. Having said all this I think the funds that they raised in the IPO is largely to repay debt."She further added, "Currently the company is making huge losses. Even after they repay the debt in FY17 or FY18 even if they are able to turn around and make an EPS of about Rs 2-4, still I think the valuations are extremely expensive which will limit the upside from here on. So, it is better to switch."