PC Jeweller tanks 43% in one week on withdrawal of buyback offer

PC Jeweller dipped 13% to Rs 68 on the BSE in intra-day trade, was trading at its lowest level since August 18, 2014.

Shares of PC Jeweller hit nearly four-year low of Rs 68 per share, falling 13% on the BSE in intra-day trade. In past one week, the stock tanked 43% from Rs 122 on July 12, as the company announced the withdrawal of proposed buyback offer due to the non-receipt of the NOC from its bankers. The stock was trading at its lowest level since August 18, 2014.

The stock plunged 89% from its 52-week high level of Rs 457 recorded on January 16, 2018 in intra-day trade. Investors have seen their market cap erosion of Rs 204 billion to