134 per cent return in year: This jewellery stock in action as FIIs buy stake - Check details
The stock has given a return of 134 per cent in one year. The counter has gained 15.05 per cent in one week and 23.35 per cent in two weeks.
Shares of PC Jewellers gained over 5 per cent on Thursday, i.e. March 13, as Mauritius-based FII bought stake in the company. As per the information shared with exchanges, Unico Global Opportunities Fund Limited has acquired warrants of PC Jewellers Ltd. It has acquired 5,45,00,000 warrants.?
Shares of PC Jeweller started the session at Rs 13.30 on Thursday against the previous closing price of Rs 13.17. The stock surged further to touch a high of Rs 13.90 - 5.54 per cent higher than the previous close.?
Last seen, the counter held firmly in green and was trading at Rs 13.68.?
The stock has given a return of 134 per cent in one year. The counter has gained 15.05 per cent in one week and 23.35 per cent in two weeks.?
Earlier, the company settled a case related to alleged non-disclosure of information about loan default with the markets regulator Sebi with a payment of Rs 7.23 crore.
This came after the jewellery retailer proposed to settle the instant proceedings initiated against it, "without admitting or denying the findings of facts and conclusions of law", through a settlement order.
The Securities and Exchange Board of India (Sebi) initiated adjudication proceedings against PC Jeweller for the alleged violation of various provisions of LODR (Listing Obligations and Disclosure Requirements) Regulations and issued a show cause notice on February 29, 2024.
The show cause notice was issued to PC Jeweller due to allegations of failing to disclose or delaying the disclosure of important information about loan defaults, according to the settlement order.
This included not sharing quarterly reports, classifying loans as non-performing assets (NPAs), submitting a Resolution Plan to lenders, and the failure of the plan.
Equity market benchmarks Sensex and Nifty climbed in early trade on Thursday driven by buying in index heavyweights ICICI Bank and Reliance Industries amid a robust domestic macroeconomic data and firm trend in the global peers.
Meanwhile, the 30-share BSE Sensex climbed 192.32 points or 0.26 per cent to 74,222.08 in the morning trade. The NSE Nifty rose 21.75 points or 0.1 per cent to 22,492.25.