New Delhi: PC Jewellers stock gained over 5 percent today, i.e. March 13, as Mauritius-based FII bought a stake in the company. According to information available on the BSE, Unico Global Opportunities Fund Limited has acquired warrants of PC Jewellers Ltd. It has acquired 5,45,00,000 warrants.
The counter opened at Rs 13.30 today on the BSE against the previous closing price of Rs 13.17. It gained 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 scrip has given a multibagger 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.
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.
rom the Sensex pack, Tata Steel, Bajaj Finserv, ICICI Bank, Bajaj Finance, State Bank of India, Zomato, Bharti Airtel, PowerGrid, NTPC and Titan were among the gainers.
In contrast, IndusInd Bank, ITC, UltraTech Cement, Asian Paints, Tata Motors, Axis Bank, Mahindra & Mahindra, and Nestle India were the laggards.
Consumer Price Index (CPI)-based retail inflation slipped to a seven-month low of 3.61 per cent in February mainly due to easing prices of vegetables, eggs, and other protein-rich items, creating space for the RBI to go for another cut in interest rate next month.
With PTI inputs