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Continuing its sharp rally for the third straight session today, shares of PC Jeweller soared over 153 per cent from its 52-week low hit late last week.
The company shares surged 37.90 per cent to end at Rs 240.70 on the BSE. Intra-day, it skyrocketed 39.78 per cent to Rs 244. On the NSE, shares of the company rose sharply by 37.56 per cent to close at Rs 240.25.
The stock jumped over 153 per cent from its 52-week low price of Rs 95.05 hit on May 3 this year. On the volume front, 196.12 lakh shares were traded on the BSE and over 18 crore shares changed hands on the NSE during the day. The company’s market capitalisation (m-cap) rose Rs 5,129.13 crore in three trading sessions.
Shares of PC Jeweller had on Thursday made a smart recovery to cut short an eight-day falling streak. The company had on Saturday in a BSE filing announced that a board meeting will be held on May 10, 2018, inter-alia, to consider the proposal for buyback of fully paid-up equity shares.
BSE had sought clarification from the company on May 3, 2018 with reference to news reports that the CBI has arrested the owner of PC Jeweller. Later, in a clarification issued to the 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 had said.
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