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PC Jeweller Banned on F&O List After Wiping 83% of Investors' Wealth
Amidst the downward movement in share price, stock exchanges have place d PC Jeweller on the futures and options ban list as its derivatives contracts crossed 95 percent of market-wide position limit.
In the middle of disclosure norms controversy, PC Jewellers share price fell as much as 7 percent in early market trade on Thursday.
It is the stock's ninth straight fall session wiping off 83 percent of the investor's wealth from its January high. It dropped from a market capital of Rs 23,138.80 crore on January 17, 2018, to Rs 3,817 crore at market opening on May 3.
On Sunday, PC Jeweller's told stock exchanges that it will have a meeting on May 25 to consider the proposal of buying back and declare the dividend (if any) for 2017-18.
Amidst the downward movement in share price, stock exchanges have placed PC Jeweller on the futures and options ban list as its derivatives contracts crossed 95 percent of market-wide position limit.
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