“We would like to clarify that the abovementioned news item published in "BTVI" dated 3rd May, 2018 is factually incorrect and Shri Balram Garg, Managing Director of the Company has already appeared on Zee Business for a live interview and clarified the position,” the company said with reference to news appeared in Bloomberg TV dated May 03, 2018 quoting "CBI arrests owner of PC Jeweller."
The Company makes timely disclosures of all the events, information etc. that have a bearing on the operation / performance of the Company which include price sensitive information etc. Further, we wish to clarify that presently the Company is not having any such information, which requires disclosure as aforesaid. We do not find any justification or reason behind decrease in price of equity shares of the Company today, it added.
Despite of over 50% rally from its 52-week low, the stock is still down 52% in one month from Rs 313 and down 75% from its 52-week high level of Rs 600 recorded on January 16, 2018.
Between April 20 and 30, funds managed by Fidelity International reduced their holdings in PC Jeweller by 6.02 percentage points.
Direct and indirect subsidiaries of Fidelity and funds managed by the global asset manager sold 3.53 percentage points (13.9 million shares) stake of PC Jeweller on the stock market on Monday, April 30, cutting their stake to 3.51%. Fidelity funds held 9.58% stake in the company as of April 20.
Till 11:41 am; a combined 96.57 million equity shares representing 24% of total equity of PC Jeweller changed hands on the counter on the NSE and BSE.