PC Jeweler's Stock Puts Up 44%, the news of the arrest of the owner is false
On
Friday, a company made an investment of Rs 1 lakh to Rs 1.44 lakh. Such a
return was given by such stocks which was going through difficulties till two
days ago. We are talking about the PC Jeweler's stock here, which had been
down for 8 consecutive days by Wednesday. Good bidding was also benefited
after the company's stock got false news of the arrest of the
owner. Earlier, on Thursday, the stock was up 10 per cent.
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2,000 crores increase Market Cap
PC
Jeweler is the fastest growing stock on the Bombay Stock Exchange (BSE), which
climbed nearly 44 percent to close at Rs 174.55. Talking of intra-day, the
stock touched 48.41 per cent and touched a high of Rs 180.25 per
day. Compared to Rs. 121.45 a day before the closing price of the stock,
the stock is open at Rs. 127 on BSE. With this, the market cap of the
company increased by about Rs 2 thousand crore in one day.
The recovery of 84 percent of the Recovery
PC Jeweler's stock , seen in 2 days, was also noticeable. On the BSE, where the company's 1.75 crore shares were trading, the NSE recorded trading in 18 million shares.
The stock had touched 52-week low levels of 52.05 on BSE on Thursday, compared to 84 percent of the stock in stock.
In the
stock of PC Jewelers, the decline of nearly 63 per cent during the 8th
consecutive session before Thursday, thereby decreasing its market valuation by
Rs 7,364.46 crore.
Owner's arrest was reported News
One
day ago The news of the PC Jeweler's arrest was reported, after which
the statement issued immediately after the company's news was
rejected. From this news on Thursday, the company's stock was witnessed a
big boost. The effect continued even today, the stock rose 46% to Rs
180. The stock closed at Rs 121.45 on Thursday.
BSE had sought clarification
on
the closing of the 10 per cent increase on Thursday that the BSE
had asked for clarification from the company. In response, the
company had said, "The company delivers the discretion of all avents, information,
etc. on time, whose effect falls on the operation and performance of the
company. It also includes Price Sensitive Information. We want to
make it clear that at present the company does not have any information about
which it needs to be disconnected. "
The
company said in its filing, "We want to rely on investors, shareholders
and other stakeholders that there is nothing wrong with the company and its
operation. The fundamentals of the company remain strong and will continue
to grow on the path of growth.
At
the same time, Managed Fund reduced its holding to half of this week in PC
Jeweler by Fidelity International. Fidelity Subsidiaries reduced their
holding to 3.51 per cent by selling the company's 3.53 per cent stake on
Monday. By 20th April, Fidelity Fund had 9.58% stake in the company.
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