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PC Jeweller turns volatile; zooms over 140% from Friday's low

The stock surged 29% to Rs 471, bouncing back 141% from its Friday's intra-day low of Rs 195.

SI Reporter  |  Mumbai 

PC Jewellers
PC Jewellers. Photo: PC Jewellers twitter handle

turned volatile by surging 29% to Rs 471 on in early morning trade on Monday in otherwise weak market. The stock of jewellery Company zoomed 141% from its Friday’s intra-day low of Rs 195. At 09:42 AM; the stock was trading 16% higher at Rs 423 on on back of heavy volumes.

On comparision, the S&P Sensex was down 0.89% at 34,755 points. As many as a combined 22.25 million shares changed hands on the counter in first half-an-hour of trading on and Shares of came under heavy selling pressure on Friday, crashing nearly 60% in intra-day trade, but later recovered most of the lost ground after management's commentary that "the fundamentals of the company remain strong" “The Company is not aware of reason of sudden decrease in price of equity share of the Company today. However, we would like to assure our investors, shareholders, etc. that the fundamentals of the Company remain strong,” said on a clarification with reference to decrease in price. We affirm that none of our promoters has diluted its stake in the Company and none of their shares are pledged as collateral with any institution, it added. Meanwhile, locked in lower circuit for the fourth straight trading sessions, down 10% at Rs 237 on The stock tanked 53% in past six trading days from Rs 505 on January 25, 2018.

First Published: Mon, February 05 2018. 09:51 IST