Mauritius-based FII buys stake in LIC-owned penny stock under ₹20. Stock jumps 5%

Stock Market today: Mauritius-based FII buys stake in LIC-owned penny stock under ₹20. The PC Jewellers share price gained more than 5% in the morning trades on Thursday.

PC Jewellers- Details of stake being bought by a fund

As per the intimation on the exchanges UNICO GLOBAL OPPORTUNITIES FUND LIMITED has acquired warrants of PC Jewellers Ltd. The intimation on the exchanges clarified that the acquirer is not part of the Promoter or the Promoter group.

The target company PC Jewellers shares are listed on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Before the said acquisition of warrants and Unico Global Opportunities Fund held no warrants, convertible securities, voting rights, encumbrances, or shares in PC Jewellers which is the target company. However now , the Unico Global Opportunities Fund has acquired 5,45,00,000 warrants. The acquired warrants by Unico Global Opportunities Fund represent 5.757 per cent of the equity share capital being held in PC Jeweller Ltd. As per the exchange filings the equity share capital of PC JEWELLER LIMITED remains at 946,746,396 equity shares of face value ₹10 each after the acquisition by Unico Global Opportunities fund

PC Jeweller share price movement

PC Jeweller share price opened at ₹13.30 on Thursday on the BSE, The PC Jewellers share price at the time of opening was slightly higher than previous days closing price of ₹13.17. The PC Jeweller share price however gained further to highs of ₹13.90. This translated into intraday gains of ₹more than 5% for the PC Jewellers share price on Thursday.

PC Jewellers share price has been rebounding of late after significant corrections seen in the markets. The PC Jewellers share price is up more than 13% in last 5 sessions and is up more than 28% since closing levels on 4 March

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