PC Jeweller hits all-time low as CRISIL downgrades rating to default grade

CRISIL downgraded PC Jeweller's long term and short terms ratings to the bank loan facilities of the Company to CRISIL D.

Shares of PC Jeweller continued to trade under pressure and slipped 5 per cent to hit a fresh all-time low level of Rs 23.50 on the BSE on Tuesday, after rating agency CRISIL downgraded its long-term and short-term ratings to the company's bank loan facilities to CRISIL D. The instruments with this rating are in default or are expected to be in default soon, as per the rating agency.

The jewellery company's stock has thus fallen below its previous low of Rs 24.15 touched on August 23, 2019. In the past four trading days, it slipped 16 per cent,