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PC Jeweller shares continue recovery, shares gain 44%

Loknath Das May 7, 2018 Business Comments Off on PC Jeweller shares continue recovery, shares gain 44%
PC Jeweller shares continue recovery, shares gain 44%

PC Jewellers is up nearly 84% from its 52-week low price of Rs 95.05 which it hit  on BSE on Thursday.

Shares of PC Jeweller skyrocketed nearly 44% Friday, extending its rally for the second straight session, as value buying continued at the counter.

The stock soared 43.72% to end at Rs 174.55 on the BSE. Intra-day, it zoomed 48.41% to Rs 180.25.

At the NSE, shares of the company rose sharply by 43.80% to close at Rs 174.65.

In terms of equity volume, 175.23 lakh shares of the company were traded on the BSE and over 18 crore shares changed hands on the NSE during the day.

The stock is up nearly 84% from its 52-week low price of Rs 95.05 which it hit on BSE on Thursday.

Shares of PC Jeweller made a smart recovery to cut short an eight-day falling streak, surging nearly 10%.

The BSE had sought clarification from the company on Thursday with reference to news reports that CBI has arrested owner of PC Jeweller.

Later, in a clarification issued to BSE the company 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.

 

 

[“source=hindustantimes”]

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