India's PC Jeweller hits upper circuit after lender's nod to settlement deal

PC Jeweller

09/09/2024 08:33

** Shares of India's PC Jeweller  PCJE.NS  gain 5% and hit 
upper limit of exchange-mandated trading band 
    ** The ornaments maker said lender Kotak Mahindra Bank
 KTKM.NS  has accepted its one-time settlement proposal for
outstanding dues
    ** Earlier, a slew of banks including IndusInd Bank
 INBK.NS , Punjab National Bank  PNBK.NS , SBI  SBI.NS  had
accepted co's proposals to settle unpaid debts
    ** YTD, stock has surged 177% 

    

 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com;))