 "PC Jewellers")
Sebi lens on PC Jeweller
Market regulator, Securities and Exchange Board of India (Sebi) has launched a probe into PC Jeweller, whose shares saw a huge plunge and some recovery in the past two trading sessions amid inter-se transfer of shares by the promoters. The drop in the stock price was triggered by founder, PC Gupta’s move to “gift” shares of the company to a family member through off-market transactions. “Sebi is probing the disclosure and governance practices followed by the jeweller. It has asked exchanges for relevant data,” said a source.
Shrimi Choudhary
Associated Alcohols on a high
Associated Alcohols & Breweries, a brewery and distillery company, is seeing good action for the past few months. Reports suggest that the company has big expansion plans that are attracting investors. In addition, Chennai-based well-known investor, Dolly Khanna has bought over one per cent in the company, as of March 2018. This has further fuelled investor interest. The stock has risen from Rs 194 to Rs 372 in the past six months – a rise of 92 per cent.
Joydeep Ghosh
Tepid premium for FY19’s first IPO
IndoStar Capital Finance’s Rs 18-billion initial public offering (IPO) –first for the current fiscal—is receiving a lukewarm response from grey market investors. Sources say, the shares of the non-banking finance company are quoting at a premium of just seven per cent in the unofficial market. “The premium had dropped from 15 per cent to just three per cent and now has stabilised at seven per cent. The issue seems to be aggressively priced to provide an attractive exit to private equity investors,” said a broker.
Pavan Burugula
