Mumbai/IBNS, June 1 -- Shares of Coffee Day Enterprises surged nearly 10 percent on Monday after the company reported a sharp turnaround in its fourth-quarter earnings, boosting investor confidence in the operator of the Cafe Coffee Day chain.

Stock Gains Ahead Of Shivakumar's Swearing-In The rally in Coffee Day shares also came just ahead of senior Congress leader D.K. Shivakumar's swearing-in as the Chief Minister of Karnataka on June 3. Shivakumar's daughter, Aishwarya Shivakumar, is married to Amartya Hegde, the son of late Cafe Coffee Day founder V.G. Siddhartha. Strong Q4 Turnaround

The company's revenue rose 4.66 percent year-on-year to Rs. 280.51 crore from Rs. 268.03 crore.

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