India's PC Jeweller hits over 1-wk low after reports of bankrupcty proceedings

PC Jeweller

28/07/2023 05:32

** Shares of PC Jeweller  PCJE.NS  fall as much as 4.9% to
30.50 rupees, their lowest since July 20
    ** Media reports said on Wednesday that State Bank of India
 SBI.NS  had initiated corporate insolvency proceedings against
PCJE
    ** PCJE on Thursday denied the media reports saying it has
not received any official communication from National Company
Law Tribunal (NCLT) regarding initiation of insolvency
proceedings by SBI against co
    ** Over 3.2 mln shares change hands by 09:54 a.m. IST, 1.1x
the 30-day moving avg
    ** As of last close, stock down ~62% so far this year


 (Reporting by Kashish Tandon in Bengaluru)
 ((Kashish.tandon@thomsonreuters.com))