At 12:25 pm; PC Jeweller was trading 7% lower at Rs 103, falling 18% from intra-day high on the NSE, against 0.52% decline in the Nifty 50 index. The trading volumes on the counter jumped more than 30-fold. A combined 160 million equity shares representing 41% of total equity of PC Jeweller changed hands on the NSE and BSE so far.
In past six trading sessions, the stock tanked 67% from Rs 289 on April 24, 2018.
"The exchange has sought clarification from PC Jeweller Ltd on May 03, 2018 with reference to news appeared in Bloomberg TV dated May 03, 2018 quoting "CBI arrests owner of PC Jeweller". The reply is awaited." BSE said in a corporate announcement.
"The Company makes timely disclosures of all the events, information etc. that have a bearing on the operation / performance of the Company which include price sensitive information etc. Further, we wish to clarify that presently the Company is not having any such information, which requires disclosure as aforesaid. We do not find any justification or reason behind decrease in price of equity shares of the Company today" it added.
Meanwhile, PC Jeweller on Wednesday after market hours said funds under FMR LLC and its subsidiaries holding in the company has declined by more than one percentage points.
On April 27, 2018, Fidelity managed funds have sold 4.69 million shares (around 1.19% stake) of the company in open market taking the total holding to 7.04%. The name of buyers not ascertained immediately.
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