PC Jeweller up 58% in two days from 52-week low; down 52% in 1 month

PC Jeweller has moved higher by 24% to Rs 150 on the BSE on Friday in intra-day trade in an otherwise weak market. The stock of jewellery firm rallied 58% from its 52-week low of Rs 95 recorded on Thursday during intra-day trade after PC Jeweller denied reports of CBI search.
“We would like to clarify that the abovementioned news item published in "BTVI" dated 3rd May, 2018 is factually incorrect and Shri Balram Garg, Managing Director of the Company has already appeared on Zee Business for a live interview and clarified the position,” the company said with reference to news appeared in Bloomberg TV dated May 03, 2018 quoting "CBI arrests owner of PC Jeweller."

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.

Despite of over 50% rally from its 52-week low, the stock is still down 52% in one month from Rs 313 and down 75% from its 52-week high level of Rs 600 recorded on January 16, 2018.