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PC Jeweller spurts after buyback approval

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surged 8.16% to Rs 226.05 at 09:18 IST on BSE, after the company's board approved the proposal of of equity shares at Rs 350 per share.

The announcement was made after market hours yesterday, 10 May 2018.

Meanwhile, the Sensex was up 83.25 points or 0.24% at 35,329.52.

On the BSE, 11.64 lakh shares were traded on the counter so far as against the average daily volumes of 1.28 crore shares in the past two weeks. The stock had hit a high of Rs 247 and a low of Rs 229.90 so far during the day. The stock had hit a record high of Rs 600.65 on 16 January 2018. The stock had hit a 52-week low of Rs 95.05 on 3 May 2018.

PC Jeweller's board approved the proposal for of upto 1.21 crore equity shares, comprising of 3.07% of the total paid-up equity capital of the company, for an aggregate amount not exceeding Rs 424 crore, at Rs 350 per share, on a proportionate basis through the tender offer route. The board noted that the promoters and promoter group of the company shall not participate in the proposed

PC Jeweller's net profit rose 52.1% to Rs 162.71 crore on 25.63% rise in net sales to Rs 2644.89 crore in Q3 December 2017 over Q3 December 2016.

is one of the leading jewellery companies in in the organized

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 11 2018. 09:22 IST