BUSINESS & FINANCE
PC Jeweller continues to gain; shares skyrocket 44%
Shares of PC Jeweller skyrocketed nearly 44 per cent today, extending its rally for the second straight session, as value buying continued at the counter.
The stock soared 43.72 per cent to end at Rs 174.55 on BSE. Intra-day, it zoomed 48.41 per cent to Rs 180.25.
At NSE, shares of the company rose sharply by 43.80 per cent to close at Rs 174.65.
In terms of equity volume, 175.23 lakh shares of the company were traded on BSE and over 18 crore shares changed hands at NSE during the day.
The stock is up nearly 84 per cent from its 52-week low price of Rs 95.05 which it hit yesterday on BSE.
Shares of PC Jeweller yesterday made a smart recovery to cut short an eight-day falling streak, surging nearly 10 per cent.
Prior to yesterday, in the last eight trading sessions, the stock plunged nearly 63 per cent, wiping out Rs 7,364.46 crore from its market valuation.
BSE had sought clarification from the company yesterday with reference to news reports that CBI has arrested owner of PC Jeweller.
Later, in a clarification issued to BSE the company yesterday said:"We would like to clarify that the news item is factually incorrect."
"We would like to assure our investors, shareholders and other stakeholders that there is nothing wrong with the company and its operations, the fundamentals of the company remain strong and it continues to move ahead on growth path," the filing added.
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