Sunday, May 06, 2018

Free Stock Tips | PC Jeweler's Stock Puts Up 44%, the news of the arrest of the owner is false


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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