PC Jewellers shares hit a 52-week high on September 26, 2024, rising by 5% after Bank of India approved the company’s One-Time Settlement (OTS) proposal. The approval, conveyed via email, marks a significant step for the company, which had opted for the OTS to settle outstanding dues.
Key Points:
- The OTS proposal includes terms involving cash and equity components, release of securities, and mortgaged properties.
- All fourteen consortium member banks have approved the OTS proposal, finalizing the settlement.
- As of 9:38 am, PC Jewellers’ shares were trading 5% higher at ₹169.69 on the NSE.
This development signifies a positive turn for the company’s financial restructuring, contributing to the surge in share price.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
