From Business Standard: 2024-07-26 05:34:00

Shares of PC Jeweller surged 5% to Rs 85.83, hitting a 19-month high with heavy volumes. Stock has rallied 28% in five days, bouncing back 95% from June’s low. Finance Minister reduced basic customs duty on gold and silver from 10% to 6%, boosting demand. Company approved one-time settlement with several banks to settle outstanding dues. Board approved raising funds up to Rs 2,705 crore through preferential issue and rights issue. In Q4FY24, company saw a decline in turnover due to litigations affecting customer sentiments. PC Jeweller is revamping operations, preparing to launch new collections, and aims to regain market share and showcase good performance in upcoming quarters.



Read more at Business Standard: This jewellery stock hit the 5th straight upper limit; up 95% from June low | News on Markets