Shares of PC Jeweller on Wednesday tumbled over 5 per cent after markets regulator Sebi ordered impounding of alleged unlawful gains of more than Rs 8 crore made by two promoters and related entities of the company in an insider trading case.
The scrip tumbled 5.41 per cent to close at Rs 24.50 on the BSE. During the day, it dived 7.14 per cent to Rs 24.05.
At the NSE, it cracked 4.83 per cent to close at Rs 24.60.
In traded volume terms, 10.75 lakh shares of the company were traded on the BSE and 73 lakh shares on the NSE.
The two promoters are Shivani Gupta and Sachin Gupta, and others are Amit Garg and Quick Developers Pvt Ltd (QDPL).
The latest ruling comes after a probe into the movement of share price of PC Jeweller during the April-July 2018 period. The watchdog looked at whether entities had traded in the scrip on the basis of unpublished price sensitive information (UPSI) pertaining to the company's buyback of shares.
Disclaimer: No Business Standard Journalist was involved in creation of this content