PC Jeweller stock plunges 30% on withdrawal of buyback plan
PC Jeweller shares plummeted 24.17% to Rs 90.95 -- its 52-week low -- on the BSE. On the NSE, the stock plunged 29.98% to hit a one year low as well as the lower circuit limit at Rs 83.95.
By Press Trust of India | Press Trust of India
PUBLISHED ON JUL 16, 2018 03:13 PM IST
Shares of P C Jeweller tumbled 30% on Monday, after the company decided to withdraw the proposed buyback of shares worth Rs 424 crore because it did not get approval from its bankers.
The stock plummeted 24.17% to Rs 90.95 -- its 52-week low -- on the BSE. On the NSE, it plunged 29.98% to hit a one year low as well as the lower circuit limit at Rs 83.95.
In a filing to BSE on Friday, the company said that “...in view of the non-receipt of the requisite NOC from the company’s bankers, the board of directors has decided to withdraw the buyback offer with immediate effect”.
In May, PC Jeweller’s board had approved buy-back of shares worth Rs 424 crore amid a sharp plunge in the stock price.
Topics
Centre releases ₹1.04 lakh crore GST compensation shortfall to states
PTI, New Delhi
PUBLISHED ON MAR 01, 2021 08:37 PM IST
The ministry on Monday released the 18th weekly instalment of ₹4,000 crore to 23 states and 3 Union territories with Legislative Assembly (Delhi, Jammu & Kashmir and Puducherry).
Mandatory FASTag to help save ₹20k crore per annum on fuel: Nitin Gadkari
PTI, New Delhi
PUBLISHED ON MAR 01, 2021 07:26 PM IST
To improve green plantation cover beside highways, e-tagging of plants will be done, Gadkari added.
Mobile retailers write to PM Modi for Amazon probe
Reuters, New Delhi
PUBLISHED ON MAR 01, 2021 06:46 PM IST
AIMRA urged the government to "suspend all Amazon activities in India" until there is an investigation into the company's practices.
GST collections rise 7 pc to ₹1.13 lakh crore in February
PTI, New Delhi
PUBLISHED ON MAR 01, 2021 06:11 PM IST
The gross GST revenue collected in February 2021 is ₹1,13,143 crore, of which CGST is ₹21,092 crore, SGST is ₹27,273 crore, IGST is ₹55,253 crore (including ₹24,382 crore collected on import of goods) and Cess is ₹9,525 crore (including ₹660 crore collected on import of goods).
A taper tantrum around 2024 polls could be Modi govt’s biggest economic trial
By Roshan Kishore, Hindustan Times, New Delhi
UPDATED ON MAR 01, 2021 06:17 PM IST
While most of the economic analysis around the pandemic’s impact on the Indian economy has focused on domestic factors, there is merit in looking at the impact of a near-certain economic disruption to the Indian economy in the next few years
Spectrum auction begins, 5G not included: All you need to know about bidding
By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
UPDATED ON MAR 01, 2021 04:14 PM IST
Here is what all you need to know about the much-awaited auction.
Abolition of GST annual audit requirement could save up to ₹30K crore annually
By Rajeev Jayaswal
PUBLISHED ON MAR 01, 2021 04:03 PM IST
The Budget proposes removing the mandatory requirement of getting the accounts audited and reconciliation statement submitted by specified professionals, such as chartered accountants
Gasoline sales record slowest growth in six months, diesel sales falls 5.3%
Reuters
PUBLISHED ON MAR 01, 2021 04:02 PM IST
Gasoline and gasoil prices in India have risen to record highs, mirroring global markets. Taxes account for about 61% of retail gasoline prices and about 56% of diesel prices.
Rupee slips 8 paise to settle at 73.55 against US dollar
PTI, Mumbai
PUBLISHED ON MAR 01, 2021 03:56 PM IST
At the interbank forex market, the local unit opened at 73.76 against the greenback and witnessed an intra-day high of 73.19 and a low of 73.76.
Sensex surges 750 points to end trading at 49,850; Nifty closes above 14,750
PTI, Mumbai
UPDATED ON MAR 01, 2021 04:06 PM IST
- Meanwhile, the global oil benchmark Brent crude was trading 0.88 per cent lower at USD 65.39 per barrel.
Bitcoin rises after Chinese region declares war on crypto mining
Bloomberg
PUBLISHED ON MAR 01, 2021 03:46 PM IST
- Chinese officials first outlined proposals in 2018 to discourage crypto-mining
India’s biggest oil retailers are focusing on rural revival
Bloomberg
PUBLISHED ON MAR 01, 2021 03:30 PM IST
- The increasing economic importance of India’s hinterlands is influencing business expansion plans and accelerating a trend of more service stations being opened in the countryside.
Contract farming will increase farm incomes, says PM Modi
By HT Correspondent | Edited by Zara Khan
PUBLISHED ON MAR 01, 2021 02:17 PM IST
The webinar, which was attended by agriculture minister Narendra Singh Tomar, focussed on effective implementation of budgetary allocations with regard to the agriculture and farmers’ welfare ministry
Power sector: 7 more states implement reforms, earn more borrowing capacity
By Rajeev Jayaswal
PUBLISHED ON MAR 01, 2021 01:59 PM IST
On May 17, 2020, the Union government had raised states’ borrowing limit by 2% of GSDP for 2020-21, but 1% of the additional borrowing limit was available on implementation of four reforms with a 0.25% value each
LPG cylinder prices hiked for fourth time in a month. Check latest rates here
By hindustantimes.com | Written by Kanishka Sarkar, Hindustan Times, New Delhi
UPDATED ON MAR 01, 2021 01:44 PM IST
The rates were earlier revised by ₹25 on February 4, ₹50 on February 15 and then again by ₹25 on February 25.