New Delhi, Oct. 19 -- Shares of multibagger CCL Products fell another 2% in Monday's intraday trade on 19 October, dropping to Rs.983, their lowest level in seven months, as the earnings-led sell-off extended into its second day.

The losses have pushed the stock into negative territory for October, with shares declining 3.4% so far this month and falling 11% from the monthly high. The company reported its September-quarter results on Thursday, with the numbers coming in below Street estimates as weak coffee prices weighed on performance.

The company reported 7.5% year-on-year revenue growth, driven by double-digit volume growth of 10-15%, although lower coffee prices weighed on realizations.

Gross margin expanded by 339 basis points to...