INSUBCONTINENT EXCLUSIVE:
PC Jeweller jumped over 8 per cent on Friday ahead of its quarterly earnings later in the day.
The company is scheduled to report its
financial performance for the June quarter during the day
The conference call is coming up at 5 pm
The stock, which made a gap-up opening today, rose 8.01 per cent to hit a high of Rs 109.20 on the BSE
This was the third consecutive session of gains for the scrip, which has risen over 16 per cent in past three sessions.
BSE shareholding
data suggest that foreign portfolio investors offload their stake to 19.09 per cent in the June quarter, from 31.22 per cent in the March
Promoter stake in the company fell to 57.61 per cent, from 60.24 per cent earlier as one of the promoters reportedly gifted a part of his
stake to relatives.
Last month, the board failed to secure bankers' permission for its buyback proposal
The company said bankers appreciated the fact that the firm is keeping its commitment of reducing its interest cost as well as bank
exposure made at the time of declaration of annual results
They are also believed to have communicated that the company should continue to focus on growth and give priority to further bringing down
its interest expense to the maximum extent possible.
