PC Jeweller shares hit upper circuit as board approves allotment of 4.35 lakh equity shares

The counter opened in green at Rs 173.40 on the BSE against the previous close of Rs 168.45. The stock gained further to touch the high of Rs 176.85.

Shares of PC Jeweller hit upper circuit as the company informed exchanges that its board has apporved the the allotment of 4.35 lakh equity shares. According to the information shared with the exchanges, the new equity shares so allotted, shall rank pari-passu with the existing equity shares of the Company.

The allotment has been done upon receipt of the balance amount aggregating to Rs 1,83,76,219.80 at the rate of Rs 42.15 per warrant (being 75% of the issue price per warrant) pursuant to the exercise of their rights of conversion of warrants into equity shares.

The counter opened in green at Rs 173.40 on the BSE against the previous close of Rs 168.45. The stock gained further to touch the high of Rs 176.85. The 52-week high of the counter is Rs 186.80 and the 52-week low of the stock is Rs 27.66.
Meanwhile Gold prices on Wednesday increased Rs 380 to Rs 76,740 per 10 grams in futures trade as speculators created fresh positions on a firm spot demand.

On the Multi Commodity Exchange, gold contracts for December delivery traded higher by Rs 380 or 0.5 per cent at Rs 76,740 per 10 grams in a business turnover of 14,873 lots. Fresh positions built up by participants led to a rise in gold prices, analysts said.

Earlier, India’s gems and jewellery exports declined 18.79 per cent to USD 2.01 billion in August due to sluggish global demand, according to GJEPC data. The exports stood at USD 2.47 billion during August 2023, Gem Jewellery Export Promotion Council (GJEPC) said.

However, it said the shipments during the month under review improved from July, when it was USD 1.66 billion.

(Disclaimer: The information provided in this article is for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.)