India's PC Jeweller jumps as lender accepts settlement proposal

PC Jeweller

08/07/2024 05:03

** Shares of India's PC Jeweller  PCJE.NS  jumps ~9%, set
for best day in six months
    ** Embattled ornaments seller says lender Punjab National
Bank (PNB)  PNBK.NS  approves one-time settlement proposal 
    ** Previously, State Bank of India  SBI.NS  and Karur Vysya
Bank  KARU.NS  had accepted its proposal to settle unpaid debts
    ** Stock climbs over 100-day moving avg for first time since
June 25; had closed in-line with 50-DMA on Friday
    ** 1.1 mln shares of PCJE changed hands in early trade 
    ** YTD stock has risen nearly 19% 

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