The shares of Penny Stock PC Jewellers saw a great lead of up to 5% on Thursday and reached ₹ 13.74. Behind this fast, there is news of purchasing a large stake of Unico Global Opportunity Fund Limited, a Foreign Institutional Investor at Mauritius.
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FII’s new deal in pc jewellers – what is details?
- Unico Global Opties Fund Limited has bought warrants of PC Jewellers.
- It has nothing to do with the promoters of the company.
- A total of 5,45,00,000 warrants were purchased.
- This is 5.757% of the company’s total equity share capital.
- The total equity shares of PC Jewellers have now increased to 946,746,396 with ₹ 10 face value.
According to exchange filing:
“Unico Global Opties Fund has invested in PC Jewellers, which can be a positive sign for the company’s stock.”
Recent boom in shares of pc jewelers
Stock performance on BSE on Thursday:
- Opening Price: ₹ 13.30
- Previous day’s closing price: ₹ 13.17
- Intrade High: ₹ 13.90 (gain of 5%)
Performance in the last few days:
- 13% rose in 5 sessions.
- A rise of 28% from March 4 till now.
PC Jewellers’s Stock Signs for Investors
- FII shopping may be positive signal for stock.
- A great rally has been seen in the last few days.
- However, investment in penny stocks is risky, so vigilance is necessary.
Will this bounce of PC jewellers intact or is it just a temporary boom? It will be interesting to see in the coming days!
