Business
Shares of this jewellery firm to remain in focus on Friday; check details
Shares of this jewellery firm to remain in focus on Friday; check details
About this update from Pc Jeweller Ltd.
Shares of Delhi-based PC Jeweller are expected to remain in focus on Friday after the company allotted 6.85 crore equity shares following the conversion of warrants.In an exchange filing, the Delhi-based jewellery firm said it has allotted 6,85,50,000 equity shares of face value Re 1 each pursuant to the conversion of fully convertible warrants. The allotment was approved by the board of directors through a circular resolution.The company said the conversion forms part of the larger issuance of 48,08,02,500 fully convertible warrants undertaken in late 2024. Upon the conversion, PC Jeweller has received about Rs 28.89 crore, representing the balance 75 percent of the issue price payable at the time of conversion.The company further said the warrants were adjusted to a face value of Re 1 per share from Rs 10 following a 1:10 stock split.Shares of PC Jeweller ended the previous trading session higher, rising 1.43 percent to close at Rs 10.67 on the BSE, as against the previous close of Rs 10.52. During the session, the stock touched an intraday high of Rs 10.73 and a low of Rs 10.50.Meanwhile, the benchmark equity indices Sensex and Nifty rebounded on Thursday after three sessions of losses, tracking gains in global markets after US President Donald Trump struck a conciliatory tone on Greenland and hinted at a good trade deal with India.Besides, a mild recovery in the rupee and a correction in global crude prices supported the domestic markets, traders said.Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.