Upper Circuit: Small-Cap Stock Below Rs 60 Jumps on One-Time Settlement Approval, Sharpest Move in Seven Months
On Monday, during the morning trade, over 26 lakh shares were traded on the NSE, with more than 21 lakh shares pending buy orders.
The week has started on a lackluster note for the Indian markets, with the BSE benchmark Sensex trading down by 0.08 percent and the NSE benchmark Nifty50 index trading down by 0.05 percent. However, the broader markets have shown promise, with the Small-Cap 100 index trading higher by 0.66 percent on Monday.
Amidst the buoyancy in the broader markets, a small-cap stock, PC Jeweller Ltd, has hit an upper circuit of 10 percent on Monday. PC Jeweller Ltd is engaged in the manufacturing, sales, and trading of gold jewelry, diamond-studded jewelry, and silver items, operating across various geographical areas.
The stock has recorded its highest single-day surge in almost seven months, driven by a recent exchange filing. The company announced that Punjab National Bank has approved its one-time settlement (OTS) proposal for outstanding dues. The approved OTS includes terms and conditions such as cash and equity components payable under the settlement, and the release of securities and mortgaged properties.
On Monday, during the morning trade, over 26 lakh shares of PC Jeweller Ltd were traded on the NSE, with more than 21 lakh shares pending buy orders.
Disclaimer: The article is for informational purposes only and not investment advice.